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Hidden Value Gems
RT @HiddenValueGems: $AER should be a big beneficiary here too…leading owner of airplanes and jet engines…trading at c 1x P/B, but if asset value is 10-20% higher and with 75% of assets financed with debt, its market value of equity could be 60% higher.
Trading at c. 10x PE, close to 10% buyback yield.
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RT @HiddenValueGems: $AER should be a big beneficiary here too…leading owner of airplanes and jet engines…trading at c 1x P/B, but if asset value is 10-20% higher and with 75% of assets financed with debt, its market value of equity could be 60% higher.
Trading at c. 10x PE, close to 10% buyback yield.
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Hidden Value Gems
An interesting chart: Somehow I felt that prices at Starbucks have increased way more than at McDnalds… https://t.co/tYacFhoDkX
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An interesting chart: Somehow I felt that prices at Starbucks have increased way more than at McDnalds… https://t.co/tYacFhoDkX
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Hidden Value Gems
As some big tech names have come off their all-time highs, I thought it is worth reminding of the points raised by @JohnHuber72 earlier this May.
$QQQ
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As some big tech names have come off their all-time highs, I thought it is worth reminding of the points raised by @JohnHuber72 earlier this May.
$QQQ
A great post by @JohnHuber72 on the rising capital intensity of the Big Tech and the implications for earnings quality and future returns.
1/ Capex [of Big 4 Tech companies] is now over 3 times depreciation expense.
2/ This spending hasn’t yet hit the income statement, but it will in the next few years as depreciation expenses are set to triple in the coming years as D&A catches up with today’s capex spending.
3/ If the returns on these investments are good, then sales growth will be able to absorb these much higher expenses. But this is not a sure thing.
4/ While the P/E ratios range from 25 to 35, the P/FCF ranges from 40-50.
5/ “I’m not predicting a poor result, but I’m mindful of how difficult it will be given how different the companies are today.”
6/ They used to grow with very little capital invested, but now they have a mountain of capital to deploy, which is obviously much harder at 7 times the size. tweet
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Hidden Value Gems
$AXL.L
Another excellent results from the 2nd horizontal well.
$110m Mkt Cap, $11m net cash. Could be easily $50-60m FCF next year at $80 oil price. https://t.co/fPpJwrVfyB
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$AXL.L
Another excellent results from the 2nd horizontal well.
$110m Mkt Cap, $11m net cash. Could be easily $50-60m FCF next year at $80 oil price. https://t.co/fPpJwrVfyB
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iinvested
2Q'24 White Falcon Capital Management on $RTO
Read the full letter here:
https://t.co/WRGkdL2eBG https://t.co/xL7rAuqOJX
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2Q'24 White Falcon Capital Management on $RTO
Read the full letter here:
https://t.co/WRGkdL2eBG https://t.co/xL7rAuqOJX
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Invest In Assets 📈
Small miss on Cloud sends Microsoft down -6% in the after-hours.
Rough market $MSFT https://t.co/a2b2xboRuK
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Small miss on Cloud sends Microsoft down -6% in the after-hours.
Rough market $MSFT https://t.co/a2b2xboRuK
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