Summary Thermo Fisher has a dominant position in the Medical Laboratories and Research segment of the healthcare industry with annual revenues of ~$23B. It has an industry-leading presence in high-growth / emerging markets; ~21% of its annual revenue is derived from these markets. There is the possibility that the Chinese government could ramp up their [...]
Summary A comparison of the 5, 10, 15, and 20 year returns for the Big 5 Canadian banks shows a clear winner. The banks which have had significant US exposure for several years have fared much better than those which do not or which have only recently entered the US market. Despite the various headwinds/uncertainties [...]
Summary Constellation Brands is awaiting regulatory approvals to increase its ownership in Canopy Growth to 38% from ~10% in an effort to capitalize on opportunities in the cannabis industry. The cannabis industry is Canada is undergoing a significant transformation and other major liquor companies are / will enter this space. I am reluctant to invest [...]
Summary HRL is transitioning from low margin commodity related businesses to higher margin branded value added products. Brands with a long history in North American markets are being well received in international markets. HRL is one of a handful of companies which has increased its dividend for 50+ consecutive years. The dividend yield is low [...]
Summary This high quality Canadian insurance company has grown successfully through multiple acquisitions and is now one of Canada’s largest P&C insurance companies (~17% market share). Growth opportunities in Canada are limited in that the top 5 P&C insurers in Canada have a 48% market share. In 2017, it expanded into the US market but [...]
Summary Cisco has shifted to more of a software and subscription-based offerings is resulting in more revenue predictability. It has an extremely strong balance sheet and generates significant FCF on an annual basis. An investment in Cisco offers investors the opportunity to have exposure to the technology sector without having to assume the potential of [...]
Summary This company has more than doubled its annual revenue since FY2015. Growth is being generated primarily from the US, as opposed to Canada, subsequent to the completion of a very significant acquisition in 2016. The company will be incurring significant CAPEX over the next few years. As a prudent measure, the historical dividend growth [...]
Summary Majority ownership in this company is held by one of Canada’s top 100 wealthiest families. This company has generated a 12.7% compound annual growth in net equity value since inception (1969). The company’s stock price is ~61% of net equity value per common share. The strategy is to accumulate shareholder value through long-term [...]
Summary This company recently released its Q4 and FY2018 results and Mr. Market responded with a +11% increase in the company’s stock price. The Board approved a 33% increase in the annual dividend and the dividend’s compound annual growth rate since going public in 2007 is ~33.6%. Diluted EPS growth of 12% - 16% is [...]
Summary Stock screeners have shortcomings which can result in investors overlooking opportunities. This company was founded in 1898 but only went public in 2002. It operates in a highly competitive industry and faces considerably regulatory scrutiny. Investors seeking to minimize credit risk will likely find this company to be appealing. This stock is certainly not [...]
