In today’s briefing:
- HD Hyundai Marine Solution IPO – Peer Comparison – Not Particularly Exciting
- DNOW, Inc. – Customer-Driven Model Drives Market Share Gains
HD Hyundai Marine Solution IPO – Peer Comparison – Not Particularly Exciting
- HD Hyundai Marine Solution (443060 KS) is looking to raise up to US$555m in its Korean IPO.
- HD Hyundai Marine Solution (HMS from hereon) is a ship aftermarket service provider that provides necessary services throughout a ship’s life cycle after the delivery of a new ship.
- In our previous note, we talked about the company’s historical performance. In this note, we talk about peer comparison.
DNOW, Inc. – Customer-Driven Model Drives Market Share Gains
- DNOW’s FY23 financial results benefited from the initiatives management put in place several years ago to position the company as a strategic supply chain partner for its vendors and customers.
- FY23 revenue increased 9% Y/Y, including +20% and +11% gains in its drilling and production and fittings and flanges product lines.
- Capital spending cycles across all segments of the energy industry drive the majority of DNOW’s revenue.
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