Garrett Motion ($GTX) - Post-reorg turbocharger maker at < 7x FCF
This deserves a closer look. With a capital structure that complicated, it's no wonder the market doesn't want to touch it. Lots of work...but the more complicated it is, the more chance there is value inside. Time to take a dive
Looks very inexpensive, thanks for the idea. Capex has been around $130 mil so with an EV of ~US$2 billion, looking at EV/EBIT of 5x roughly speaking.
In Asia, I know that Mitsubishi Heavy has exposure to turbochargers and trades at a much higher multiple.
This deserves a closer look. With a capital structure that complicated, it's no wonder the market doesn't want to touch it. Lots of work...but the more complicated it is, the more chance there is value inside. Time to take a dive
Looks very inexpensive, thanks for the idea. Capex has been around $130 mil so with an EV of ~US$2 billion, looking at EV/EBIT of 5x roughly speaking.
In Asia, I know that Mitsubishi Heavy has exposure to turbochargers and trades at a much higher multiple.