$NU (-1.66%)

Nu is a leader in digital banking in Brazil and Latin America

1. Nu reaches around 53% of the adult population in Brazil.

2. Customer acquisition cost (CAC) of USD 7, and service cost per customer around 85% lower than traditional banks.

$ASML (+1.51%)

World leader in lithography equipment, ASML is a key player in the semiconductor industry.

1. ASML has a worldwide monopoly on systems (extreme ultraviolet lithography)

2.31% ROIC and 51% EBITDA margin above industry standards

$GTT (+0.07%)

Major player in cryogenic technologies applied to the transport and storage of liquefied gases

1. Key market for the energy transition, growing by CAGR 27% 2024-2032

2. Exceptional EBITDA margin of 54.9

3. Portfolio of 3,295 active patents

$SNOW (-1.55%)

Leader in cloud-based data management

1. Premium customer base: 542 customers generating over $1m and high net retention (127% in Q3 FY2025).

2. Multi-cloud architecture with advanced capabilities for secure data collaboration

$JD (+0.07%)

A key player in logistics and technology services for e-commerce

1. Same-day or next-day delivery to over 90% of the Chinese population thanks to its logistics park

2. Attractive valuation (PER 11.52x)

$MNSO (+0%)

International retailer specializing in lifestyle and design products

1. Rapid growth in key regions such as Latin America (+18.7%) and North America (+89% by 2024).

2. Innovation: 940 new products introduced every month

$RHM (+0.22%)

European leader in defense and mobility technology.

1. Visibility of revenues: order book of 38.3 billion euros

2. Diversification between defense and civil mobility

$OSIS (+0%)

Global Leader in Security, Healthcare and Optoelectronics Technologies

1. Technological advantage with products such as CertScan® or RTT® 110

2, 40% recurring revenue from turnkey solutions and maintenance

$WHD (+0%)

Specialized in drilling and pressure control technologies for the oil and gas industry

1. Market leader in the United States

2. Return on Equity > 30

$TGLS (-0.06%)

Company specializing in the manufacture and installation of glass for the construction industry

1. Sector leader in the US where construction will benefit from D. Trump's policies

2. EBITDA margin > 25% and 2-figure growth over the last 3 years

Out on the high seas with a cash cow. 💸

After my last post about GATX was pretty well received, I'd like to introduce you to another player from my professional life.

What does GTT do?

$GTT (+0.07%) is a developer of equipment for the transport and storage of gases. We are all familiar with tank membranes. They are mainly used in shipbuilding. They are the world leader in the field of cryogenics (refrigeration), especially in the field around liquefied natural gas - LNG.

What is the business behind it?

It should be understood beforehand that they themselves are not involved in the production of your equipment. They pass on this activity to contract manufacturers under license. They are a project developer, i.e. an engineering service provider, for innovative storage solutions in the field of gas transport.

They currently own about 2000 patents and are continuously developing their portfolio. Their focus is not on a specific technology, but on diversifying their own portfolio so that almost all important gases can be used for transport.

However, their key technology is membrane development to such fine porosity that not even the smallest molecular gases, such as hydrogen, can suffer high transport losses. One thus significantly supports the efficiency during transport.

Their segment is thus based on future trends, such as ammonia, hydrogen, LNG or various biogases.

It is therefore not necessary to rely on individual groups in the technology, such as Linde, Air Liquide or Air Products, because gas transport by ship is likely to increase in general. I already presented the substance for this thesis in my contribution to the Deloitte hydrogen study.

In addition, there are already strong cooperations with Shell $SHEL (+1.11%) or CMA CGM for shipbuilding, with regard to engine development based on CNG (compressed natural gas). But the segment of storage capacities should not be ignored either, especially since hydrogen tends to be seen more as a storage medium. There may still be some well-known companies lurking in the background that are convinced of this membrane technology.

What are the risks behind it?

You are, of course, dependent on a cycle that cannot yet be calculated, since the upswing in the entire gas industry is currently being supported by massive subsidies. At present, every company wants to achieve rapid success in the markets of the future, and correspondingly high investment sums are naturally released. Of course, this is followed by overcapacity in the transportation sector as well, so that plant construction will also experience sustained downward cycles. It therefore also depends on how strongly non-European countries will push the expansion of hydrogen, so that they will profit from its export.