SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Value Investing
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Spekulatius who wrote (50769)8/6/2013 1:19:12 AM
From: Jurgis Bekepuris  Read Replies (1) of 78618
 
I looked some more at KSB, since you mentioned again in the post about your portfolio.

It is somewhat cheap based on PE / DCF, especially with runup in US-based industrials like DOV.
Nice balance sheet.

I don't like that company reports nebulous (pre-tax?) ROE (>14) in their reports. It is misleading. Real ROE is much lower (<10).
Net margins at 4% are very low for a company that claims some kind of brand strength (moat?).
Crappy FCF for last two years: almost zero for 2012 and negative for 2011. It might be that the Euro crisis is a good time to expand internationally, but I'm not so sure... So they are spending a lot of money on CapEx, though perhaps that's the reason why their sales/earnings did not fall even lower.

Overall: I need to think more about this one. :)
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News