In today’s briefing:
- Shin-Etsu Chemical (4063 JP) Salutary Earnings, Conservative Forecasts, and Another Buyback
- EzFill Holdings Inc. – Investment Thesis
Shin-Etsu Chemical (4063 JP) Salutary Earnings, Conservative Forecasts, and Another Buyback
- Shin Etsu Chemical (4063 JP) reported Q1 earnings after the close on 27 July, and they blew the lights out. Higher margins and 10-year record high Q1 progression ratios.
- The company also announced guidance which was pretty healthy, but progression ratios suggest it is conservative.
- The company announced its second ¥100bn buyback in three months. This one lasts 6 months so impact will be lower, but it will have some impact.
EzFill Holdings Inc. – Investment Thesis
- This is our first report on EzFill Holdings and we look to provide a detailed account of the various drivers that will be responsible for the company’s growth in the coming years.
- However, it is trading at a revenue multiple of around 1x whereas it can easily command a 5-6x revenue multiple.
- EzFill’s current share price does not reflect the potential upside of its huge revenue growth potential as well as its attractiveness as an acquisition target for oil majors.
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