Added to YB: 2024-09-11
Pitch date: 2024-09-09
NCL [bullish]
Northann Corp.
-76.67%
current return
Author Info
Matrice Research Management is an investment firm managing a public equity portfolio focused on long-term asymmetric capital appreciation for its clients. Sign up for the newsletter.
Company Info
Northann Corp. engages in the manufacture, wholesale, and retail of the 3D printed vinyl flooring panels and other decorative panels in North America, Europe, and internationally.
Market Cap
$9.3M
Pitch Price
$1.42
Price Target
N/A
Dividend
N/A
EV/EBITDA
-6.46
P/E
-1.46
EV/Sales
1.18
Sector
Building Products
Category
value
Offshore Support Vessels (OSV) Investment Thesis
NCL: Undervalued OSV play at 2.8x fwd P/E, young 32-ship fleet. Strong sector recovery, tight supply. Malaysian focus, cabotage protection. Risks: cyclicality, debt, customer concentration. Upside: deleveraging, re-rating post creditor sales, dormant shipbuilding biz. 54% debt due in final 2yrs of 7yr plan.
Read full article (13 min)