Andrew Stolz

JANUARY 17, 2022

Leading role in EV and hydrogen to reclaim market share. China is by far the strongest and fastest-growing market for heavy duty trucks in the world. It is the primary market for the company to realize future growth opportunities. Leading role in EV and hydrogen to reclaim market share. Download the full report as a PDF.

Marketability 52

Marketability Dividends Net Debt Start-ups 52

Andrew Stolz

FEBRUARY 7, 2022

Highlights: End markets mature, no opportunities to grow. End markets mature, no opportunities to grow. ROEC’s revenue is mainly dependent on the growth of the end markets such as computers, phones, and tablets. A mature market for smartphones translates into low demand for displays and ROEC’s backlights.

Dividends 52

Dividends Net Debt EBIT Marketability 52

Andrew Stolz

FEBRUARY 4, 2022

Strong ROE and ROIC might be overlooked by the market. Strong ROE and ROIC might be overlooked by the market. Given the strong demand outlook, I believe that the market should be more optimistic about the profit growth. The company started to reduce its long-term debt. Costs cuts to drive sustainably higher margins.

Start-ups 52

Start-ups Net Debt Beta Equity 52

Andrew Stolz

JANUARY 28, 2022

Domestic market still not fully penetrated yet. Gazprom’s major export market is Europe, which committed to an ambitious transition to green energy. Domestic market still not fully penetrated yet. Continued expansion and further penetration of the Russian market results in a similar ratio over the next years as well.

Risk-free Rate 52

Risk-free Rate Net Debt Start-ups Marketability 52

Andrew Stolz

FEBRUARY 1, 2022

The management expects 5-8% growth rate for this end market, which seems realistic. Networking end market could become 2nd largest segment. I think it’s a great opportunity for TTM to beat current market expectations. Fundamentals, Valuation, Momentum, and Risk (FVMR). Its net-debt to equity ratio stood at 0.3x

Technology 52

Technology Net Debt Marketability Equity 52

Andrew Stolz

JANUARY 28, 2022

I think that the market is too pessimistic about the long-term outlook. Its net-debt to equity ratio stood at 0.9x By 2030, the company plans to increase its renewable capacity to 4 Gigawatt from currently 0.2 In addition, it shifts from coal production to gas. Attractive dividend yield could rise to 2x Japanese average.

Dividends 52

Dividends Risk-free Rate Net Debt Equity 52

Andrew Stolz

JANUARY 23, 2022

In 2020, the global bearings market was about SEK390bn. In 6 years, the market value could reach SEK690bn, a 77% increase from 2020. The company did not significantly increase its LT-debt during the pandemic. Net debt-to-equity is likely to stay around 0.2x High single-digit industry growth mainly driven by Asia.

Net Debt 52

Net Debt Marketability Equity Business Valuation 52