Category: New
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Analyzing Crocs Market Share on Amazon for the Rubber Clogs Category
This is post 3 in a series about CROX. Here are posts 1 and 2. I wanted to measure the extent of Crocs’ dominance of the rubber clog footwear category. To do this I used Jungle Scout to check the top best selling Amazon listings for the term “rubber clogs.” I took the top 19…
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Calculating an Earnings Power Value for CROX
This is part 2 in a series of blogs valuing CROX. See my valuation of CROX’s asset replacement value in part 1 here. We can calculate Earnings Power Value (EPV) with the following formula: EPV = ((EBIT – one time gains or losses + reported depreciation – capex)(1-effective tax rate))/wacc In this case according to…
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The Net Asset Replacement Value of CROX
I valued CROX using Greenwald’s asset replacement value method. This is the first post in a series of 3. According to their 10-K for 2023 Book Value (M) Adjustment Adjusted Value (M) Cash and cash eq 149 100% 149 Accounts receivable* 306 80% 245 Inventories** 385 75% 289 Income taxes receivable 4 100% 4 Other…
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Securities Analyses that I Found Interesting in December 2024
Date 12-18-24 DHCNL : Investing in distressed debt in a turnaround REIT https://valueinvestorsclub.com/idea/DIVERSIFIED_HCR_6.25_SR_2046/5127682322 I have been interested in distressed debt situations and this one was an interesting case study. The author looked at the 6.25% Baby Bonds due 2/1/46 for the Diversified Health Trust REIT. These are senior unsecured bonds. All bonds are bound by…
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UEC: Valuation of Pre-Production Uranium Miner
UEC is consistently overvalued, and I don’t get why. EC owns mineland but has no developed mines or significant current production. Valuing this company seems simple. I just assess the value of their uranium (in the ground) to work out the company value. UEC’s owned uranium resources The following is according to their press releases…
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A Valuation of Boston Omaha Corporation: A Curious Holding Company
I first valued BOC when I was researching DFH. I appreciated the fact that they captured most of the upside of DFH having been invested in it pre-IPO. Another positive indicator of management quality is that they are currently invested heavily in SKYH. BOM is a holding company similar to Berkshire and it operates with…
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Sky Harbour: A Supply-Side Advantaged Business Selling at a Reasonable Price
A lot of credit goes to AlexB91 for his writeup of this business. I originally found this company in one of my stock screeners when it was briefly selling below NCAV (on paper). But it quickly became apparent that this is not a cigar butt company. And Alex’s writeup explained why that is very well.…
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What’s the Deal With LGL?
LGL is a unique situation, a US company still trading below net-net liquidation value. LGL is a publicly traded holding company engaged in services, merchant investment and manufacturing businesses. It has sold 11 and spun off 3 businesses, culminating with the spin off of M-tron industries, inc in October 2022. As their annual report states,…
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Dream Finders Homes, INC: A Home Builder with a Competitive Advantage
DFH is a home builder that utilizes an asset-light business model which is very similar to NVR, written up perfectly by charlie479 in June 2001. Like NVR in 2001 stock offers competitive advantages and growth opportunities at an attractive price. – Since 2008 DFH has compounded shareholder equity, earnings, and revenue by 40% annually. DFH…
