PepsiCo Inc. (PEP) is a leading global food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. Through its operations, authorized bottlers, contract manufacturers and other third parties, PEP makes, markets, distributes and sells a wide variety of convenient beverages, foods and snacks, serving customers and consumers in [...]
Heico Corporation (HEI) is a successful and growing technology-driven aerospace, industrial, defense and electronics company. Business is comprised of two operating segments: Flight Support Group (FSG) and Electronic Technologies Group (ETG). HEI's performance has been negatively impacted in recent quarters because of the challenges its FSG customer base is experiencing due to the the COVID-19 [...]
Danaher Corporation (DHR) has completed several acquisitions and divestitures over the years and now operates 3 business segments: diagnostics, life sciences, and environmental and applied solutions. DHR consists of ~69 associates employed at 20+ operating companies and it has research & development, manufacturing, sales, distribution, service and administrative facilities located in 60+ countries. In March [...]
Fortive Corporation (FTV) spun off 80.1% of its Industrial Technologies strategic segment to Vontier Corporation (VNT). In January 2021, FTV exited its remaining 19.9% ownership stake in VNT through a tax efficient Debt-for-Equity Exchange, thus completing the final step in the VNT separation. With the combination of the VNT's spin proceeds, the Debt-for-Equity Exchange and [...]
Verizon Communications Inc. (VZ) is a holding company that, acting through its subsidiaries, is one of the world’s leading providers of communications, information and entertainment products and services to consumers, businesses and government entities. With a presence globally, VZ offers voice, data and video services and solutions on its networks that are designed to meet [...]
As an existing TELUS Corporation (T) shareholder, I was recently reviewing its Q4 and FY2020 results which were released February 11, 2021. While reviewing the recently released results I decided to investigate TELUS International (Cda) Inc. (TIXT), the customer experience and IT consultant subsidiary of T, which went public February 3, 2021 via an Initial [...]
Paychex, Inc. (PAYX) is currently experiencing challenges because of the low interest rate environment and because its primary target market (small businesses with ~17 employees on average) has been hard hit because of COVID-19. I have mentioned in several previous articles that the valuation of many companies has become detached from the underlying fundamentals and [...]
I was recently asked to provide a guest post on the Value of Stocks website and selected Intact Financial Corporation as the company to cover. My article can be found here. I wish you much success on your journey to financial freedom. Thanks for reading! Note: I sincerely appreciate the time you took to read [...]
Broadridge Financial Solutions, Inc. (BR) is a capital light business in which ~65% of its revenue is recurring. It has a track record of generating strong Free Cash Flow (FCF) although the second half of the fiscal year is when BR generates the bulk of its annual FCF. The bulk of a BR investor's long-term [...]
We are currently witnessing an environment in which the valuation of many companies has become detached from the underlying fundamentals. Even if you invest in a high quality company it is important to remember that if you grossly overpay you are most likely to experience substandard investment returns. Although I have indicated in recent articles [...]
