Thanks for the link, I just got around to reading it. First of all: interesting company in an industry where a lot of efficiency improvements are certainly still possible/necessary. The approach of automation is perspectively inevitable with the demographics in the western countries and the resulting shortage of skilled workers. Nevertheless, I would question a few points: 1. Valuation: a quick and dirty research brings me to a KUV of about 27. That's pretty sporty I must say. 2. Ratios: some ratios to understand the profitability/customer retention I would still research: ROCE or ROIC and net retention rate. Are there any maintenance contracts of the customer with AutoStore after the sale of the cubes? 3. Debt: what about the debt to cash/EBITDA ratio? 4. Dilution: are shared based compensations (employee shares) issued on a large scale and/or capital increases? In general, these would be things that would interest me in such a company. In addition, the business model seems to me to be very capital intensive and relatively cyclical, since expensive products have to be sold to customers in the form of high one-time investments. Nevertheless, it is worth taking a closer look. Personally, I would continue to watch it and see how the company can sustain/grow now in a weaker economy. The boom years for e-commerce/goods sales during Corona have of course brought some growth. It remains to be seen how sustainable the growth is now and where it settles.@ccf
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@RealMichaelScott 👌 gold, thank you! I will have a look. Are exactly the kind of tips that bring me further 👍
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•@Fabzy You're welcome 😉 An important point is of course also the uncertainty due to the ongoing proceedings. This should also be taken into account and a small / medium discount priced.
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