Professional
Added to YB: 2024-03-12
Pitch date: 2024-03-11
BEIJ-B.ST [bearish]
Beijer Ref AB (publ)
-10.67%
current return
Author Info
Sweet Stocks is a former portfolio manager at an international small cap fund who shares pitches for international equities. Sign up for his blog.
Company Info
Beijer Ref AB (publ), together with its subsidiaries, provides commercial and industrial refrigeration, heating, and air conditioning products worldwide.
Market Cap
SEK 72.6B
Pitch Price
SEK 129.49
Price Target
N/A
Dividend
1.05%
EV/EBITDA
18.88
P/E
31.25
EV/Sales
2.27
Sector
Trading Companies and Distributors
Category
turnaround
Cool America? Beijer Ref’s entry into US HVACR wholesale
BEIJ-B.ST: Swedish wholesaler in HVACR, overreached in US with $1.3bn acquisition. 26yrs 16.8% sales CAGR; shaky Heritage Distribution deal & weak '23 AC sales (-11%/-8% Q3/Q4). Rivals like Watsco lead. High 30x '24e PE despite potential profit dip, reliant on M&A. Controlled by founders & EQT. 'Buy on weakness.'
Read full article (13 min)