Jamin, thanks for all the work you put into this - these newsletters are both educational and useful. With AI being such a dominant topic to get a grasp on I wondered if stocks like Palantir should be included and whether there is any useful AI-related metric or even a way of capturing that. Cheers.
I really appreciate your comprehensive analysis and clear charts; they are very helpful. One small suggestion: not all companies' core metrics are Overall Revenue Growth. For example, some companies may focus more on ARR (Annual Recurring Revenue) or the performance of a specific segment. If you could specify the different key metrics for different companies in your analysis, I believe the results would be even more valuable.
Good job - thank you. You write: "The big caveat in FCF – it adds back the non-cash expense of SBC. This is controversial, as it harms shareholder returns by increasing the number of shares outstanding over time (dilution)." Well, is it really controversial? As a potential buyer of a stock I might decide that I don't want to pay more than e.g. 20x FCF. And I only want to pay the multiple on the part of the FCF which belongs to me as a shareholder. So I subtract SBC from the FCF, as SBC belong to management and employees. No? (Same thing if I want to pay a certain P/E. I deduct minorities from net income. They don't belong to me.)
Always love you stuff, top class!!!!
Jamin, thanks for all the work you put into this - these newsletters are both educational and useful. With AI being such a dominant topic to get a grasp on I wondered if stocks like Palantir should be included and whether there is any useful AI-related metric or even a way of capturing that. Cheers.
I really appreciate your comprehensive analysis and clear charts; they are very helpful. One small suggestion: not all companies' core metrics are Overall Revenue Growth. For example, some companies may focus more on ARR (Annual Recurring Revenue) or the performance of a specific segment. If you could specify the different key metrics for different companies in your analysis, I believe the results would be even more valuable.
Very educational and informative article. Thank you!
Fantastic work!
Good job - thank you. You write: "The big caveat in FCF – it adds back the non-cash expense of SBC. This is controversial, as it harms shareholder returns by increasing the number of shares outstanding over time (dilution)." Well, is it really controversial? As a potential buyer of a stock I might decide that I don't want to pay more than e.g. 20x FCF. And I only want to pay the multiple on the part of the FCF which belongs to me as a shareholder. So I subtract SBC from the FCF, as SBC belong to management and employees. No? (Same thing if I want to pay a certain P/E. I deduct minorities from net income. They don't belong to me.)