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Librarian Capital
Interesting thought experiment on Altria $MO
If you just look at the "Marlboro Price Gap" chart below, with the gap widening since 17Q2 trough, to what level you think Marlboro's market share has fallen by 24Q1?
(Hint: 17Q2 share was 43.5%)
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Interesting thought experiment on Altria $MO
If you just look at the "Marlboro Price Gap" chart below, with the gap widening since 17Q2 trough, to what level you think Marlboro's market share has fallen by 24Q1?
(Hint: 17Q2 share was 43.5%)
Probably not sustainable for $MO . . .
If you are long the stock here, how do you not worry about this? https://t.co/qGKqfsFFO1 tweet
Dimitry Nakhla | Babylon Capital®
RT @DimitryNakhla: 15 Quality Stocks Double-Digit EPS Growth 2025-2026 | LTM ROIC | FFO Int Coverage 💵
🖨️ ASML Holding $ASML
•2025E: $29.85 (58.7% YoY)
•2026E: $34.61 (16.0% YoY)
•LTM ROIC: 39.7%
•FFO Int Coverage: 33.92x
💳 Mastercard $MA
•2025E: $16.57 (16.1% YoY)
•2026E: $19.33 (16.7% YoY)
•LTM ROIC: 64.1%
•FFO Int Coverage: 19.79x
📈 S&P Global $SPGI
•2025E: $16.15 (12.7% YoY)
•2026E: $18.16 (12.5% YoY)
•LTM ROIC: 9.0%
•FFO Int Coverage: 12.58x
💸 Visa $V
•2025E: $11.08 (11.7% YoY)
•2026E: $12.56 (13.4% YoY)
•LTM ROIC: 35.7%
•FFO Int Coverage: 31.19x
📊 Salesforce $CRM
•2025E: $11.01 (11.2% YoY)
•2026E: $12.60 (14.4% YoY)
•LTM ROIC: 9.0%
•FFO Int Coverage: 413.45x
🖱️ Alphabet $GOOG $GOOGL
•2025E: $8.73 (14.0% YoY)
•2026E: $9.95 (14.0% YoY)
•LTM ROIC: 31.7%
•FFO Int Coverage: 341.10x
📸 Meta Platforms $META
•2025E: $23.19 (14.4% YoY)
•2026E: $26.28 (13.3% YoY)
•LTM ROIC: 30.1%
•FFO Int Coverage: 147.42x
🧬 Thermo Fisher Scientific $TMO
•2025E: $24.09 (10.8% YoY)
•2026E: $26.97 (11.9% YoY)
•LTM ROIC: 9.0%
•FFO Int Coverage: 6.38x
🏦 Intercontinental Exchange $ICE
•2025E: $6.68 (11.2% YoY)
•2026E: $7.41 (11.0% YoY)
•LTM ROIC: 7.7%
•FFO Int Coverage: 4.47x
📑 Intuit $INTU
•2025E: $19.20 (13.8% YoY)
•2026E: $22.09 (15.1% YoY)
•LTM ROIC: 15.0%
•FFO Int Coverage: 21.24x
🚛 Old Dominion Freight $ODFL
•2025E: $6.66 (16.8% YoY)
•2026E: $7.56 (13.6% YoY)
•LTM ROIC: 40.1%
•FFO Int Coverage: 3,381x
🚘 Copart $CPRT
•2025E: $1.63 (13.2% YoY)
•2026E: $1.80 (10.5% YoY)
•LTM ROIC: 21.7%
•FFO Int Coverage: n/a (nominal debt)
🌐 MSCI Inc $MSCI
•2025E: $16.76 (13.1% YoY)
•2026E: $19.06 (13.7% YoY)
•LTM ROIC: 36.3%
•FFO Int Coverage: 7.10x
🧾 PayPal $PYPL
•2025E: $4.58 (10.2% YoY)
•2026E: $5.08 (11.0% YoY)
•LTM ROIC: 15.7%
•FFO Int Coverage: 16.16x
🥤 Monster Beverage $MNST
•2025E: $2.03 (14.7% YoY)
•2026E: $2.29 (12.9% YoY)
•LTM ROIC: 24.0%
•FFO Int Coverage: 5,136x
___
The FFO (Funds From Operations) interest coverage ratio is a financial metric that measures a company's ability to pay its interest expenses from its cash flow. It's calculated by dividing the company's FFO by its interest expenses. FFO is a measure of a company's cash flow from its core business operations, excluding non-cash items like depreciation and amortization.
A higher FFO interest coverage ratio is considered good because it indicates that a company has sufficient cash flow to cover its interest expenses, making it less likely to default on its debt obligations. A higher ratio also suggests that a company has more flexibility to take on additional debt, invest in growth opportunities, or return capital to shareholders. Generally, a ratio of 4.00x or higher is considered healthy, but the ideal ratio can vary depending on the industry and company-specific factors.
________
#stocks #investing
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RT @DimitryNakhla: 15 Quality Stocks Double-Digit EPS Growth 2025-2026 | LTM ROIC | FFO Int Coverage 💵
🖨️ ASML Holding $ASML
•2025E: $29.85 (58.7% YoY)
•2026E: $34.61 (16.0% YoY)
•LTM ROIC: 39.7%
•FFO Int Coverage: 33.92x
💳 Mastercard $MA
•2025E: $16.57 (16.1% YoY)
•2026E: $19.33 (16.7% YoY)
•LTM ROIC: 64.1%
•FFO Int Coverage: 19.79x
📈 S&P Global $SPGI
•2025E: $16.15 (12.7% YoY)
•2026E: $18.16 (12.5% YoY)
•LTM ROIC: 9.0%
•FFO Int Coverage: 12.58x
💸 Visa $V
•2025E: $11.08 (11.7% YoY)
•2026E: $12.56 (13.4% YoY)
•LTM ROIC: 35.7%
•FFO Int Coverage: 31.19x
📊 Salesforce $CRM
•2025E: $11.01 (11.2% YoY)
•2026E: $12.60 (14.4% YoY)
•LTM ROIC: 9.0%
•FFO Int Coverage: 413.45x
🖱️ Alphabet $GOOG $GOOGL
•2025E: $8.73 (14.0% YoY)
•2026E: $9.95 (14.0% YoY)
•LTM ROIC: 31.7%
•FFO Int Coverage: 341.10x
📸 Meta Platforms $META
•2025E: $23.19 (14.4% YoY)
•2026E: $26.28 (13.3% YoY)
•LTM ROIC: 30.1%
•FFO Int Coverage: 147.42x
🧬 Thermo Fisher Scientific $TMO
•2025E: $24.09 (10.8% YoY)
•2026E: $26.97 (11.9% YoY)
•LTM ROIC: 9.0%
•FFO Int Coverage: 6.38x
🏦 Intercontinental Exchange $ICE
•2025E: $6.68 (11.2% YoY)
•2026E: $7.41 (11.0% YoY)
•LTM ROIC: 7.7%
•FFO Int Coverage: 4.47x
📑 Intuit $INTU
•2025E: $19.20 (13.8% YoY)
•2026E: $22.09 (15.1% YoY)
•LTM ROIC: 15.0%
•FFO Int Coverage: 21.24x
🚛 Old Dominion Freight $ODFL
•2025E: $6.66 (16.8% YoY)
•2026E: $7.56 (13.6% YoY)
•LTM ROIC: 40.1%
•FFO Int Coverage: 3,381x
🚘 Copart $CPRT
•2025E: $1.63 (13.2% YoY)
•2026E: $1.80 (10.5% YoY)
•LTM ROIC: 21.7%
•FFO Int Coverage: n/a (nominal debt)
🌐 MSCI Inc $MSCI
•2025E: $16.76 (13.1% YoY)
•2026E: $19.06 (13.7% YoY)
•LTM ROIC: 36.3%
•FFO Int Coverage: 7.10x
🧾 PayPal $PYPL
•2025E: $4.58 (10.2% YoY)
•2026E: $5.08 (11.0% YoY)
•LTM ROIC: 15.7%
•FFO Int Coverage: 16.16x
🥤 Monster Beverage $MNST
•2025E: $2.03 (14.7% YoY)
•2026E: $2.29 (12.9% YoY)
•LTM ROIC: 24.0%
•FFO Int Coverage: 5,136x
___
The FFO (Funds From Operations) interest coverage ratio is a financial metric that measures a company's ability to pay its interest expenses from its cash flow. It's calculated by dividing the company's FFO by its interest expenses. FFO is a measure of a company's cash flow from its core business operations, excluding non-cash items like depreciation and amortization.
A higher FFO interest coverage ratio is considered good because it indicates that a company has sufficient cash flow to cover its interest expenses, making it less likely to default on its debt obligations. A higher ratio also suggests that a company has more flexibility to take on additional debt, invest in growth opportunities, or return capital to shareholders. Generally, a ratio of 4.00x or higher is considered healthy, but the ideal ratio can vary depending on the industry and company-specific factors.
________
#stocks #investing
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Brandon Beylo
RT @marketplunger1: Capital Returns is a must-read for any investor that wants to up their game.
The book teaches you how changes in an industry's supply side can affect competitive positioning, economics, and more.
You can read it in a weekend!
Here are my 5 Favorite Lessons from the book ... 🧵 https://t.co/iVu5n88I9z
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RT @marketplunger1: Capital Returns is a must-read for any investor that wants to up their game.
The book teaches you how changes in an industry's supply side can affect competitive positioning, economics, and more.
You can read it in a weekend!
Here are my 5 Favorite Lessons from the book ... 🧵 https://t.co/iVu5n88I9z
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Bamboo
Bamboo is on the lookout for a Customer Experience Analyst to shape user interactions, drive product improvements, and elevate customer satisfaction.
Think you’re perfect for the role?
Apply now via this link:
https://t.co/QTdfAhXEhG https://t.co/iw0qo8w92I
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Bamboo is on the lookout for a Customer Experience Analyst to shape user interactions, drive product improvements, and elevate customer satisfaction.
Think you’re perfect for the role?
Apply now via this link:
https://t.co/QTdfAhXEhG https://t.co/iw0qo8w92I
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Offshore
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Hidden Value Gems
An interesting case on $NDAQ by Oakmark:
✅ “Over the past decade, under the leadership of CEO Adena Friedman, Nasdaq has transformed from a traditional equity exchange into a collection of fast-growing, high-quality software and data businesses with the majority of revenue coming from non-exchange segments.”
✅ “Nasdaq’s recent acquisition of Adenza led some investors to question management’s capital allocation discipline. However, we believe the subsequent share price reaction more than compensates for the risk that Nasdaq overpaid for Adenza.”
✅ “More importantly, the experience seems to have catalyzed a renewed focus on organic growth, debt paydown, and capital return. Despite Nasdaq’s potential for faster than average growth, high mix of recurring revenue, and impressive operating margins, the stock trades at a P/E multiple in line with the broader market.”
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An interesting case on $NDAQ by Oakmark:
✅ “Over the past decade, under the leadership of CEO Adena Friedman, Nasdaq has transformed from a traditional equity exchange into a collection of fast-growing, high-quality software and data businesses with the majority of revenue coming from non-exchange segments.”
✅ “Nasdaq’s recent acquisition of Adenza led some investors to question management’s capital allocation discipline. However, we believe the subsequent share price reaction more than compensates for the risk that Nasdaq overpaid for Adenza.”
✅ “More importantly, the experience seems to have catalyzed a renewed focus on organic growth, debt paydown, and capital return. Despite Nasdaq’s potential for faster than average growth, high mix of recurring revenue, and impressive operating margins, the stock trades at a P/E multiple in line with the broader market.”
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Offshore
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Invest In Assets 📈
Mastercard is up +2.5% after its Q2 earnings $MA
• Revenue +13% (CC)
• Op. margin +1%
• Net Income +24%
• Earnings per share +27%
Great business 💎 https://t.co/WtHBYGc416
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Mastercard is up +2.5% after its Q2 earnings $MA
• Revenue +13% (CC)
• Op. margin +1%
• Net Income +24%
• Earnings per share +27%
Great business 💎 https://t.co/WtHBYGc416
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Finding Compounders
Low Risk, High Uncertainty
During his recent talk, Mohnish Pabrai (@MohnishPabrai )talks about how he came across Consol Energy which currently is 14% of his US portfolio .
The story starts in 2003/04 with IPSCO.
IPSCO is a tubular steel manufacturer in the US and Canada and when Pabrai came across it had no debt, had $15 per share in cash and was selling for around $40/ share.
IPSCO , because they had purchase orders , had extreme clarity with what the earnings of the next two years would be and they were going to be $15 for each year for the next two years .
So if you look at the cash and the next two years of earnings you are sitting on $45/ share for a stock selling for $40/share.
The market however didn’t see the value as it was wary of the uncertainty as they didn’t know what will happen to earnings in Year 3.
Mohnish bought in and a year later IPSCO announced another year of $15/ share of earnings.
Mohnish ended up exiting at around $154 /share after a Swedish company offered to buy IPSCO at $160/share
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Low Risk, High Uncertainty
During his recent talk, Mohnish Pabrai (@MohnishPabrai )talks about how he came across Consol Energy which currently is 14% of his US portfolio .
The story starts in 2003/04 with IPSCO.
IPSCO is a tubular steel manufacturer in the US and Canada and when Pabrai came across it had no debt, had $15 per share in cash and was selling for around $40/ share.
IPSCO , because they had purchase orders , had extreme clarity with what the earnings of the next two years would be and they were going to be $15 for each year for the next two years .
So if you look at the cash and the next two years of earnings you are sitting on $45/ share for a stock selling for $40/share.
The market however didn’t see the value as it was wary of the uncertainty as they didn’t know what will happen to earnings in Year 3.
Mohnish bought in and a year later IPSCO announced another year of $15/ share of earnings.
Mohnish ended up exiting at around $154 /share after a Swedish company offered to buy IPSCO at $160/share
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Librarian Capital
Pernod Ricard $RI likely doesn't have LATAM & Caribbean issue as Diageo $DGE
RI reports US and LATAM in single "Americas" region
Americas sales -7% organic in FY24Q1-3
Also -7% organic in H1 when US also -7%
So LATAM decline likely -7%
US is 19% of sales; Americas 28% (FY24H1) https://t.co/OIGdAwZzWb
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Pernod Ricard $RI likely doesn't have LATAM & Caribbean issue as Diageo $DGE
RI reports US and LATAM in single "Americas" region
Americas sales -7% organic in FY24Q1-3
Also -7% organic in H1 when US also -7%
So LATAM decline likely -7%
US is 19% of sales; Americas 28% (FY24H1) https://t.co/OIGdAwZzWb
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Hidden Value Gems
RT @HiddenValueGems: Quote of the day #54
#Stocks #Investing #StockMarket https://t.co/u44TuCok4B
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RT @HiddenValueGems: Quote of the day #54
#Stocks #Investing #StockMarket https://t.co/u44TuCok4B
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