Stocks I watch in no particular order including back of the envelop price targets.
Fair Isaac Corporation
Issuer of FICO scores
Owner of M-Pesa leading mobile cash-less payment system in Africa
Chocoladenfabrik Lindt & Sprüngli
Iconic Franchise justifies premium sales prices
The AA plc
Leading British roadside assistant (think ADAC)
Trusted Brand and superior Roadpatrol network to ensure quick service
14x 2017 GPB 315 mm EBIT equates to GBP 4.6 bn EV. Deducting GPB 2.9 bn in net debt results in a per share value of 280p.
Seller of luxury sport cars
Arguably one of the most exclusive brands
Conservative FV of around 80€ per share
Money transfer agent
Brand recognition (translates into superior pricing-power), features by far the most send and receive countries compared to competition.
Buy @USD 15 per share for IRR of >20%
Largest Online hostel-booking platform
Strong Hostelworld.com brand, superior number of low budget accomodations
EUR 25 mn of FCF in 2018. A 17x multiple (12% CoE – 6% growth) translates into a PT of EUR 425 mn.
Leases IT Infrastructure to SMEs
Lowest cost, proprietary credit scoring model, access to cheap financing via Grenke Bank deposits and ABS market.
20x 2017 net income of € 115 mn. or 156 € per share
Sells Lubricants under the WD40 brand
Niche Market, stellar WD40 brand not replicateable for competitors
At 15x EPSe of 3.60 WDFC is worth USD 54 per share
Sells online ads
more costumers of search means more data means better results means more costumers
At 20x FWD EPS of 41 USD Google is worth USD 820 per share
facilitates payments through American Express cards and unlike VISA and MasterCard holds credit card loans on its balance sheet.
at 15x FY2018 EPS of 6.28 shares are worth USD 94.2 per share
Largest US. Retailer
Economies of Scale, Purchasing Power, Lowest Cost
At 15x FY2017e EPS of 4.32 Wal-Mart is worth USD 64.8 per share
Sells auto spare parts.
Narrow Moat despite large Branch Network, Everything in Stock, Service, Purchasing Power
at very conservative 10x FY2018 EPS of 47 shares are worth USD 470
Owns and runs Vienna Airport
Infrastructure asset that cannot be replicated by competition, gate to Eastern Europe.
€ 180 mn FCFe at 4% cap rate translates into a valuation of around 50€ per share.
Holds concession for Eurotunnel connecting France and the UK via rail.
Infrastructure asset that cannot be replicated by competition, 25% of UK trade flows through tunnel.
At 6% 2017e FCFy Eurotunnel´s equity is worth € 4,6 bn or 8.64 per share.