Quick Value #285 - A look at the Aumovio spin
Recent spin-off trading at 2x EBITDA and large net cash position (40% of market cap)
Today’s post:
Recently completed spin-off from Continental AG
Trades on Frankfurt exchange with soon-to-be-listed ADR
Overcapitalized balance sheet with €1.5bn net cash (40% of current market cap)
Shares trading at 2x EBITDA with limited insight into capital allocation plans
Quick reminder — For newer subscribers, my write-ups are meant to be a “jumping off point” for the idea generation process (i.e. a surface level review). Check out past write-ups here and my home base page here.
Recent write-ups include:
09/09/25 — Deleveraging catalyst at Synchronoss ($)
09/02/25 — Special situation in Pitney Bowes (PBI)
08/25/25 — A look at Greenlight’s stake in Fluor (negative EV?) ($)
08/18/25 — Atleos a 20% EPS grower at 10x earnings
08/11/25 — Sangoma Technologies turnaround-to-growth transition ($)
08/04/25 — My sourcing list and watchlist process
07/21/25 — ATN International high-quality small-cap telco ($)
07/14/25 — Babcock & Wilcox (BW) option-like upside
06/02/25 — Mid-year review of recommended ideas ($)
05/24/25 — Guide to reviewing a 10-K