The Shares Researcher

In January 2023 – nearly three years ago – this blog highlighted Warner Bros. Discovery. Since then, the company has made significant strides, notably reducing its debt and expanding its streaming business. These improvements have attracted attention from other industry players, leading to an acquisition offer from Netflix last week. Following this development, Warner Bros. Discovery’s share price has approached the fair value estimate. Given this momentum, it could be an opportune moment to consider taking the profits and reallocating funds to other investment opportunities. Since January 2023, the stock has surged approximately 175%. Congratulations to all readers who capitalized on this growth. Current Price $26.08

Introduction Swatch Group has previously been covered on this blog – first on June 7th, 2020 , and then again on April 25th, 2021 , when it was highlighted as an opportunity to sell the stock at a decent gain, less than a year after the initial write-up. Since then, the company has experienced some turbulence. Sales have weakened, culminating in a disappointing 2024 financial year with a notably low operating profit. Meanwhile, governance issues , particularly surrounding CEO Nick Hayek , who also represents the company’s largest shareholder group, have drawn negative attention. The combination of operational underperformance and management criticism has driven the share price down to below CHF 27 , a stark decline from over CHF 90 in 2018 . Valuation Despite these headwinds, Swatch’s balance sheet remains strong. As of the end of 2024, the company holds: CHF 1+ billion in cash CHF 7.6 billion in inventory CHF 3.1 billion in property, plant, and equipment Virtua...

Intro Tonnellerie Francois Freres SA (TFF Group) is a leading manufacturer of oak barrels and casks, catering to the wine and spirits industry. With a deep-rooted heritage in cooperage, the company has successfully expanded into whisky and bourbon aging, diversifying its revenue streams beyond traditional wine barrels. Since its foundation, TFF has remained under the stewardship of the Francois family, now in its fourth generation, which currently holds a 71% ownership stake. The remaining shares have been publicly traded on the Paris stock exchange since 1999. Valuation Due to cost pressures and slowing demand, the stock has declined nearly 50%, now trading at a price-to-book (P/B) ratio of approximately 1.08 – just slightly above book value. Additionally, the company has accumulated a sizable debt position following significant investments in bourbon production capacity to capture anticipated growth. With the majority of these investments now complete, the next phase will l...

Nearly three years ago, a note on Kyndryl was published. Since then, the company has made notable progress in reshaping its business following the spin-off from IBM. In November 2024, Kyndryl announced a new growth strategy along with the launch of a share repurchase program, signaling confidence in its future prospects. Recent developments have brought encouraging news. While there may still be some upside potential, the stock now appears closer to fair value, and the market currently offers a range of other compelling opportunities. Let others enjoy the rest of the ride;)  Notably, the stock price has risen approximately 115% compared to its level in January 2022. Current Price $38.90