Offshore
Photo
Hidden Value Gems
Things are going to plan at $WOSG.L
“Based on current trading, confidence of supply in both markets, increased certainty on the timing of key showroom projects, and visibility of new product launches, we have confidence in delivering our FY25 guidance as set out at the FY24 results.”
FY25 targets:
✅ Revenue growth: +9-12% (constant cncy)
✅ EBIT margin: 9-9.4%
✅ FCF conversion : 70%
If my math is correct, they are trading at 15.5% FCF yield (excluding growth capex).
9x fwd P/E based on consensus estimates with plans to double sales and profits by 2028.
tweet
Things are going to plan at $WOSG.L
“Based on current trading, confidence of supply in both markets, increased certainty on the timing of key showroom projects, and visibility of new product launches, we have confidence in delivering our FY25 guidance as set out at the FY24 results.”
FY25 targets:
✅ Revenue growth: +9-12% (constant cncy)
✅ EBIT margin: 9-9.4%
✅ FCF conversion : 70%
If my math is correct, they are trading at 15.5% FCF yield (excluding growth capex).
9x fwd P/E based on consensus estimates with plans to double sales and profits by 2028.
tweet
Offshore
Photo
Librarian Capital
John Hempton (Bronte) on perils of top-down stockpicking with metrics like ROIC:
"Good results are always visible .. and the stock is priced for it"
"Miss a break of whatever it was that made the wonderful business"
French Connection >20% ROIC in 1998-2004, before losing 90% https://t.co/BtYsKXsWGi
tweet
John Hempton (Bronte) on perils of top-down stockpicking with metrics like ROIC:
"Good results are always visible .. and the stock is priced for it"
"Miss a break of whatever it was that made the wonderful business"
French Connection >20% ROIC in 1998-2004, before losing 90% https://t.co/BtYsKXsWGi
tweet
Offshore
Photo
Stock Analysis Compilation
Ariel Investments on Emaar Properties $EMAAR UH
Thesis: Emaar Properties is capitalizing on Dubai's post-COVID real estate boom, with strong growth across key sectors poised to drive substantial financial performance
(Extract from their Q2 letter) https://t.co/Z6ILQctKau
tweet
Ariel Investments on Emaar Properties $EMAAR UH
Thesis: Emaar Properties is capitalizing on Dubai's post-COVID real estate boom, with strong growth across key sectors poised to drive substantial financial performance
(Extract from their Q2 letter) https://t.co/Z6ILQctKau
tweet
Offshore
Photo
Invest In Assets 📈
RT @InvestInAssets: My investing strategy summarized 🧠
Buy high-quality companies:
- Growth +10%
- ROC +15%
- Margins above industry
- Cash conversion +75%
- Interest coverage +10x
- FCF yield > Risk-Free Rate
- Low dilution
Let's continue👇🏼 https://t.co/qXdCL5ZFbX
tweet
RT @InvestInAssets: My investing strategy summarized 🧠
Buy high-quality companies:
- Growth +10%
- ROC +15%
- Margins above industry
- Cash conversion +75%
- Interest coverage +10x
- FCF yield > Risk-Free Rate
- Low dilution
Let's continue👇🏼 https://t.co/qXdCL5ZFbX
tweet
Offshore
Photo
Librarian Capital
Example of misunderstanding around nicotine pouches
Guardian columnist: "I knew them by the name of “snus”. I lived in Sweden for a while, where ... these nicotine pouches ... unlike the products in Britain, contain tobacco"
False. Snus & nicotine pouches are DIFFERENT products https://t.co/0oorMudRUq
tweet
Example of misunderstanding around nicotine pouches
Guardian columnist: "I knew them by the name of “snus”. I lived in Sweden for a while, where ... these nicotine pouches ... unlike the products in Britain, contain tobacco"
False. Snus & nicotine pouches are DIFFERENT products https://t.co/0oorMudRUq
I (regrettably) tried a nicotine pouch. It made me question what I think about addiction | Imogen West-Knights https://t.co/Rx8edQZPFe tweet
Offshore
Photo
Hidden Value Gems
I think there are a few things the UK could learn from Ireland 👇🏽
One has a rapidly falling Debt/GDP and a surplus budget, EU member, just 12.5% corporate income tax.
The other: rising Debt/GDP (over 100% now), rising budget deficit, not EU member any longer, 25% corporate income tax
'Ireland’s luxury problem: what to do with its €8.6bn surplus" - @FT
tweet
I think there are a few things the UK could learn from Ireland 👇🏽
One has a rapidly falling Debt/GDP and a surplus budget, EU member, just 12.5% corporate income tax.
The other: rising Debt/GDP (over 100% now), rising budget deficit, not EU member any longer, 25% corporate income tax
'Ireland’s luxury problem: what to do with its €8.6bn surplus" - @FT
tweet
Offshore
Photo
Quality Stocks
🇵🇱 Dino Polska $DNP One Pager
🏆 Score 6.1/10
🎯 My fair price estimation is around 380PLN
🐂 Bull case
- Growing fast
- Gaining market share
- Great capital efficiency
🐻 Bear case
- Margin decrease due to price war to increase market share
- Slowing growth
- 100% dependent on the Polish market
tweet
🇵🇱 Dino Polska $DNP One Pager
🏆 Score 6.1/10
🎯 My fair price estimation is around 380PLN
🐂 Bull case
- Growing fast
- Gaining market share
- Great capital efficiency
🐻 Bear case
- Margin decrease due to price war to increase market share
- Slowing growth
- 100% dependent on the Polish market
tweet
Offshore
Photo
Librarian Capital
Smithson $SSON: No portfolio changes in Aug-24
NAV +0.4% but share price -0.7% in Aug (£)
NAV growth just 8.7% p.a. since inception and <1% above benchmark (msci smid)
spirax $spx listed #2 in top detractors as expected https://t.co/w0msnuzucu
tweet
Smithson $SSON: No portfolio changes in Aug-24
NAV +0.4% but share price -0.7% in Aug (£)
NAV growth just 8.7% p.a. since inception and <1% above benchmark (msci smid)
spirax $spx listed #2 in top detractors as expected https://t.co/w0msnuzucu
tweet