bullish
Arena Bilgisayar (ARENA TI) - Tuesday, Jul 2, 2024
SUMMARY
- Arena Bilgisayar is Turkey's second-largest IT distributor led by CEO Serkan Celik, who has successfully turned around the core distribution business and created value from non-core ventures
- Despite appearing undifferentiated, levered, and expensive on the surface, the company's valuation is attractive at 1x tangible book value and 5-7x P/E ratio
- With double-digit annual growth, pre-tax returns on capital exceeding 35%, and Turkey's return to orthodox monetary policy, an investment in Arena could potentially return between 3-5x over the next 5 years, founded in 1991 by former Karma International employees, Arena has a strong history and promising future.
This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.
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