+59% Revenue CAGR since 2016 | 3× FCF | 48% LTM ROIC | 50% Net Cash Balance Sheet
PoW (#8) The Exception to the Rule
Special Edition: We’re currently investing in this company… so please keep it quiet.
Unlike most of our usual microcap plays, this one’s actually fairly liquid, and publishing will not affect our LPs’ interest.
Having studied it in depth recently, we believe it’s worth your full attention. Just so you know ⭐ Overall Score: 9.5 / 10 (Exceptional)
Pick of the Week. A curated series of high-conviction research on companies currently under our microscope. We screen for specific dislocations where the market has mispriced the balance sheet or earnings power.
The Selection Criteria:
Asset Arbitrage: Trading at a discount to tangible liquidation value.
Backlog Disconnect: Future contracted revenue ignored by the market.
Hidden Margins: Structural profitability masked by temporary noise or CAPEX cycles.
The Structure:
The Business: A concise operational overview.
The Dislocation: The specific structural reason the opportunity exists.
The Valuation: A stress-tested snapshot including downside risks (”Red Flags”) and our proprietary score.
None of the following should be construed as investment advice. Please consult a financial advisor before making any investment decision. You will find a full disclaimer at the end of this post.
