Sepsal jsem krátký update k mé největší pozici a ptal se, zda je teze stále aktuální. Za poslední půl rok přibyly zajímavé novinky, tudíž jsem chtěl s vámi sdílet mou perspektivu.
Thanks Dani! Net margin.. the company hasnt paid taxes for some time now, but i could guess EBIT margins. They had 19% in FY22. Now they are cutting the costs, and they have massive operating leverage. They have lots of fixed costs, and if i implement the savings, i could get 47% gross margin in 2022. Lets say with $20m of revs, they could get 50-55% (because only materials are variable costs), maybe it could be higher. Lets say the OPEX will increase to $3m (higher payrolls, marketing, etc.). That would bring you to 35% EBIT margin. So After tax about 20-27%? I hope it does make sense. I dont know the exact number, i think it dependes on sales. Also under the great management i dont expect EBIT margins to be that different from Gross margins - that is the sign of a good business.
Zdravím Kubo, díky moc za zajímavou analýzu. Přes jakého brokera obchodujete tyhle microcaps prosím?
Díky, Filip
Zdravím Filipe, používám interactive brokers.
Je možnost Vás nějak kontaktovat? Rád bych se s Vámi sešel a popovídal si. Možná pro Vás budu mít nárazovou práci týkající se akcií?
Případně mi napište zprávu na profilu https://twitter.com/havloidni chtěl jsem Vám napsat přes twitter, ale nemáte otevřené zprávy.
Hezký den a díky za analýzy. Jakub
Zdravím. Můžete mi napsat na kubajs.kriz@seznam.cz
Jsem moc rád, že se Vám analýzy líbí. Děkuji za zpětnou vazbu.
Great write up. How do you see net margin with revenue in the range of $20M?
Regards
Dani
Thanks Dani! Net margin.. the company hasnt paid taxes for some time now, but i could guess EBIT margins. They had 19% in FY22. Now they are cutting the costs, and they have massive operating leverage. They have lots of fixed costs, and if i implement the savings, i could get 47% gross margin in 2022. Lets say with $20m of revs, they could get 50-55% (because only materials are variable costs), maybe it could be higher. Lets say the OPEX will increase to $3m (higher payrolls, marketing, etc.). That would bring you to 35% EBIT margin. So After tax about 20-27%? I hope it does make sense. I dont know the exact number, i think it dependes on sales. Also under the great management i dont expect EBIT margins to be that different from Gross margins - that is the sign of a good business.