Professional
Added to YB: 2024-05-02
Pitch date: 2024-04-29
SPX.L [neutral]
Spirax Group plc
-21.79%
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
Spirax Group plc provides thermal energy and fluid technology solutions in Europe, the Middle East, Africa, the Asia Pacific, and the Americas.
Market Cap
GBP 4.5B
Pitch Price
GBP 86.44
Price Target
N/A
Dividend
2.70%
EV/EBITDA
13.42
P/E
23.56
EV/Sales
3.12
Sector
Machinery
Category
N/A
Spirax-Sarco – New Competitive Threat
SPX.L: £8.3B UK engineering firm w/ long history of profitable growth in steam, now expanding into bioprocessing & semiconductors via M&A. Stock -50% from COVID-boosted 50x peak in 2021 to 28x 2024E P/E today. Risks: New $38B competitor targeting key bioprocessing niche, unproven Electric segment underperforming US peers, and core Steam biz may be maturing. Waiting for better entry point given challenges and valuation.
Read full article (10 min)