Companies
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Build it and they will come – growth stories and high multiples
Joseph Kim
September 10, 2018
One of the fundamental aspects of price discovery in the market is the speed at which participants are willing to price in future expectations for a business, adjusted for potential risks in execution. continue…
by Joseph Kim Posted in Companies.
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Was the Wesfarmers full year result as bad as the headline numbers indicated?
Roger Montgomery
September 3, 2018
On 15 August, Wesfarmers (ASX:WES) reported their full year earnings result. The result came in slightly higher than consensus, primarily as a result of a stronger performance from the discount department store businesses. continue…
by Roger Montgomery Posted in Companies.
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Strong results for IDP Education
Stuart Jackson
September 3, 2018
English language testing and international student placement company IDP Education released another strong set of result for the 12 months to June 2018. Net profit after tax increased 24 per cent while earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 30 per cent relative to the prior year. continue…
by Stuart Jackson Posted in Companies, Stocks We Like.
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An Online bellweather thanks to TradeMe
Roger Montgomery
August 30, 2018
Recently, New Zealand-based TradeMe (ASX:TME) reported its FY18 results. Think of this business as a combination of Ebay, Seek, Realestate.com.au and Carsales.com.au. continue…
by Roger Montgomery Posted in Companies, Stocks We Like.
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What can Origin’s earnings result tell us about the importance of cash-flow conversion?
Joseph Kim
August 29, 2018
One area of investing that is often overlooked or underappreciated by the market is a company’s ability to generate cash-flow rather than earnings in a Profit and Loss statement. This fact may seem obvious to small business owners, but it is cash-flow that is the lifeblood of a business that allows a company to make profit, reinvest into the business and provide a return to the owners and shareholders. continue…
by Joseph Kim Posted in Companies.
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Retailers could soon feel the heat from a cooling property market
Roger Montgomery
August 28, 2018
Recent reporting season results tell a story of falling property prices and rising indebtedness. This is starting to hurt property speculators, lenders and builders, and could soon impact many retailers due to the negative ‘wealth effect’ on consumer sentiment. continue…
by Roger Montgomery Posted in Companies, Property.
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Kogan’s profit soars, but its share price still looks pricey
Roger Montgomery
August 24, 2018
Between March and July this year, the share price of Australian e-tailer, Kogan (ASX: KGN), plummeted from $9.85 to under $5.00. The share price is now rebounding on the back of an impressive profit result. So, how should value investors view this fast-growing business? continue…
by Roger Montgomery Posted in Companies.
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How REA benefits from a weakening property market
Roger Montgomery
August 22, 2018
With this weakening property market comes a decrease in auction clearance rates, credit availability and home prices. So how does REA Group (ASX:REA) benefit from this? REA’s revenues have little to do with real estate prices and everything to do with listings volume and advertising yields (pricing and mix shift). continue…
by Roger Montgomery Posted in Companies, Stocks We Like.
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Are Kogan shares now a ‘hot deal’?
Roger Montgomery
August 16, 2018
Online retailer, Kogan.com (ASX:KGN), advertises thousands of ‘hot deals’ on its website. With its share price plunging in recent months, many investors could be wondering: is KGN also going cheap? We’re about to find out. continue…
by Roger Montgomery Posted in Companies.
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JB Hi-Fi and Good Guys report
Roger Montgomery
August 13, 2018
We’re keeping a very close eye on electronics retailers like JB Hi-Fi (ASX:JBH). Not only are they exposed to any slowdown in the economy, but they are also exposed to changes in conditions for real estate & renovation demand (especially The Good Guys) as well as credit conditions. continue…
by Roger Montgomery Posted in Companies.
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