Value Investing in my Circle of Competence, Hurdle Rate

Hurdle Rate

Value Investing in my Circle of Competence

The name “Hurdle rate” was inspired by none other than Mark Leonard of Constellation Software, and their prolific use of a fixed hurdle (discount) rate for their investments. Had you invested into Constellation Software at the time of their IPO as an Australian Investor you would of seen your investment multiply by >100x or (>35% CAGR), an enviable record (Updated March 2023).

Equity Bottom-Up

<ul><li>Continuing the trend of having a noticeable focus on e-invoicing, I can present the Unifiedpost Group (‘UPG’) business.</li><li>UPG founded in 2001 by existing CEO, Hans Leybaert (12% shareholder) and has scaled up over the years to what is now a business with over 1,000 employees operating in over 30 countries.</li><li>Its products are predominately focused on e-invoicing (80% of revenue) with a base subscription revenue in order to access the platform and transactional component on top which allows the group to benefit from volume through a usage-based fee.</li></ul>

Continuing the trend of having a noticeable focus on e-invoicing, I can present the Unifiedpost Group (‘UPG’) business.UPG founded in 2001 by existing CEO, Hans Leybaert (12% shareholder) and has scaled up over the years to what is now a business with over 1,000 employees operating in over 30 countries.Its products are predominately focused on e-invoicing (80% of revenue) with a base subscription revenue in order to access the platform and transactional component on top which allows the group to benefit from volume through a usage-based fee.

Belgium

Unifiedpost Group SA provides software solutions. The Company offers cloud-based platform to empower businesses by streamlining, integrating, and automating mission critical business functions - from procuring, e-invoicing and payments processing, working capital financing, and e-identity solutions. Unifiedpost Group serves customers in Belgium.

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Unifiedpost Group (UPG BB)

Unifiedpost Group (EPR:UPG)

UPG founded in 2001 by existing CEO, Hans Leybaert (12% shareholder) and has scaled up over the years to what is now a business with over 1,000...

Hurdle Rate

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