This post is coming at a weird schedule this week thanks to a hectic travel schedule. I’ll get back to the normal routine starting next week. Also, the pipeline includes a long overdue portfolio recap, another “investing field guide” (3 more to go!), and a special project I’m working on!
Thanks for your support! 🫡
Today’s idea:
IPO’d in 2021 at a ~C$1bn valuation — now a ~C$140m microcap with more than half the market cap in net cash
Announced $19m cost saving plan (20% of market cap) expected to yield 25% FCF margins by FY2027
For new subscribers — these write-ups are meant to be a “jumping off point” for the idea generation process (i.e. a surface level review). Each write-up includes: (1) company background; (2) why the idea is interesting; and (3) fair value estimate.
Check out past write-ups here and my home base page here.
Recent write-ups include:
10/01/26 — Field guide for investing in turnarounds
09/28/26 — Gentherm RMT transaction ($)
09/21/26 — A look at the Corteva / Vylor spin-off
09/15/26 — Guide to investing in M&A situations ($)
09/09/26 — Deckers Outdoor busted GARP story
