Thanks for the write up! The company seems to be worth having a deeper look.
Have you checked Nordic Transport Group? Same business model, serial acquirer (hence faster growth), a decentralized org structure and large insider ownership. Probably too expensive now, but I like the business quality, so watching it closely.
Judging by the earnings & revenue trend, I think the company might have over-earned in the past 2 years. Hence, I believe we might see an interim peak in earnings. What are your thoughts?
definitely. Such a company doesnt trade at less than 10x trailing earnings. 2023 will see a drop in earnings. But I hope that it will stabilize in 2024. The stock went up a bit too fast since I bought it in May. May not be a good entry at the 89 euros. Was better at 77 and much better at 65 in May.
Inflation proof is a strong point I did not considered. Thanks. This is a new company for me.. so will keep a small position which might grow over the years as I get more and more confident.
Thanks for the write up! The company seems to be worth having a deeper look.
Have you checked Nordic Transport Group? Same business model, serial acquirer (hence faster growth), a decentralized org structure and large insider ownership. Probably too expensive now, but I like the business quality, so watching it closely.
Here is my write up on NTG: https://equitysearch.substack.com/p/nordic-transport-group-an-efficient
Thanks for the good comments. I will have a look at Nordic transport this week
Merci de trouver des joyaux de petites entreprises et merci pour toutes ces magnifiques analyses très claires et bien structurées.
Merci pour ces beaux mots! Je suis ravi que ces analyses vous plaisent
Good find & a well-written thesis.
Judging by the earnings & revenue trend, I think the company might have over-earned in the past 2 years. Hence, I believe we might see an interim peak in earnings. What are your thoughts?
definitely. Such a company doesnt trade at less than 10x trailing earnings. 2023 will see a drop in earnings. But I hope that it will stabilize in 2024. The stock went up a bit too fast since I bought it in May. May not be a good entry at the 89 euros. Was better at 77 and much better at 65 in May.
Very interesting - never heard of this company! A nice addition to my "inflation-proof-asset-light" watchlist.
Merci de partager ces petits joyaux cachés et surtout de partager ton "thought process".
Cheers
Inflation proof is a strong point I did not considered. Thanks. This is a new company for me.. so will keep a small position which might grow over the years as I get more and more confident.