Stock Pitches
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$IEI.V – Imperial Equities
Imperial Equities is an industrial real estate developer, purchaser and lessor headquartered in Edmonton, Alberta and whose properties are mostly all located in the greater Edmonton area. The stock trades at roughly 40% of their property values net of debt, and a nearly 30% FFO yield. This is the stock price for the last 20…
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$MARS.L – Marston’s Plc.
Marston’s manages roughly 492 pubs/bars, and tenants or leases another 976, for a total of 1468 locations. Almost all of these are neighbourhood pubs operating under all sorts of names. The company also owns a 40% stake in Carlsberg Marston Brewing Company, which they received in 2020 when they sold Marston’s Beer Company Ltd to…
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$MNRO – Monro Inc.
Monro is a tire & auto service company. They own the following brands: Monro’s strategy has been to roll up this fragmented aftermarket car service industry in the US. As of June 24, 2023 they had 1299 company-operated locations in 32 states, as well as 76 franchised locations (under the Car-X brand). At the time…
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$6123.HK – YTO International Express and Supply Chain Technology Ltd
YTO is an express shipping & supply chain logistics company. When $6123.HK went public, it was under the name On Time Logistics Holdings Ltd. and was incorporated in the Cayman Islands. In 2017, Shanghai-based YTO Express Group Co., Ltd. bought a controlling stake (62%, now 64%) of On Time, and renamed the company YTO International…
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$DOO.TO – BRP inc.
Bombardier Recreational Products was originally a subsidiary of Bombardier, until 2003 when the Recreational Products Division of Bombardier Inc. was spun-off and sold to a group of investors. Ten years later, BRP was taken public with an IPO priced at $21.50/share. Share count started around 120,000,000 and is now around 80,000,000. The cannibalizing of shares…
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$PIER.L – Brighton Palace Pier PLC
This diversified entertainment nanocap owns the world-famous Brighton Pier, as well as several bars/nightclubs, indoor minigolf sites and a theme park in Yorkshire. Brighton Palace Pier: The pier is the Group’s flagship attraction. It is the most visited free attraction in England, with over 4.3 million visitors in 2021. The pier is home to a…
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$FOI-B.ST – Fenix Outdoor International AG.
This Swedish company owns these outdoor apparel brands: As well as running retail outdoor shops under five brands: Fjällräven’s iconic Kånken bag (the backpack that probably pops into your head when you hear the name Fjällräven) was first developed in 1978, and is basically unchanged since. The product is still extremely popular today. in 2010, Fjällräven was…
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$SHM.AX – Shriro Holdings Inc.
$SHM.AX – Shriro Holdings Inc. This company is the exclusive distributor of Casio products in Australia & New Zealand. They’ve used cash flows to acquire appliance brands Omega, Robinhood and Everdure. Shriro has an ROE of around 20% & most earnings get paid as dividends Let’s start with the balance sheet for once! In H2…
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$SOM.L – Somero Enterprises Inc.
This company manufactures concrete spreading/levelling equipment used by large industrial builders. Somero is the leader in its industry with insanely high margins & returns on capital and a great balance sheet! Somero pioneered the laser screed technology used in all of their machines – they are the big innovators in this space. In 2018 they…
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$Y.TO – Yellow Pages
Okay yeah I know, Yellow Pages, but just hear me out! This shrinking business has: – Cash > 3x total debt – Net cash = 40% of market cap – ROIC/ROCE > 25% – 27% FCF margin – A 27.5% FCF yield (EV/FCF is only 2.25) Interested yet? Read on! Yellow Pages is Canada’s business…
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$EQB.TO – Equitable Bank.
Warren Buffett has said banks are commodities. While there might be small moats related to switching your main bank, people shopping for big loans will seek the bank offering the cheapest interest rate. So how can any bank stand out? Equitable Bank is fully online. There are no bank branches or ATMs with Equitable Bank…
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$CJT.TO – Cargojet
Cargojet is Canada’s cargo airline. They operate a next-day overnight fulfilment network which covers 90% of Canada’s population & do not carry passengers. This co has long-term contracts with Amazon, DHL, UPS, Canada Post, Purolator and other shippers. They have something like a monopoly domestically, though really they do face competition from WestJet and Air…
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