Added to YB: 2024-04-22
Pitch date: 2024-04-21
WOSG.L [bullish]
Watches of Switzerland Group PLC
+44.63%
current return
Author Info
Company Info
Watches of Switzerland Group PLC operates as a retailer of luxury watches and jewelry in the United Kingdom, Europe, and the United States.
Market Cap
GBP 878.4M
Pitch Price
GBP 3.42
Price Target
N/A
Dividend
N/A
EV/EBITDA
5.37
P/E
16.34
EV/Sales
0.86
Sector
Specialty Retail
Category
value
A 'crypto derivative' value play with Watches of Switzerland (WOSG)?
WOSG.L: Leading luxury watch retailer facing disintermediation & earnings risks. Rolex 60% rev but DTC unlikely given strategic limitations. Normalised 7-8x EBIT, 10% FCF yield. Trades 0.5x sales vs Bucherer 1.3-1.8x takeout. Crypto correlation provides call option. CEO aligned (3% stake). Risks: Terminal value debate on Rolex reliance.
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