Alibaba: The Growth Potential of International E-Commerce Operations Is Enticing

The World Is Underweight Alibaba [BABA-US].  Capacity to Take Softbank Placement.

Softbank’s Stake Sale Will Be a Good Litmus Test of Alibaba’s Valuation

Alibaba (BABA US): A Deep Dive into Alibaba Cloud

Alibaba (BABA US): Thoughts on Valuation Ahead of the HK Listing

Alibaba (BABA US): Domestic E-Commerce Business Show Early Signs of Slowing Down – Quantamental

Alibaba IPO/​​Secondary Listing -  Not Good for the ADR, Should Have Put a Price Range to It

Alibaba IPO/​Secondary Listing - What to Do with the US ADR While Waiting for the HK Listing?

Equity Analyst, LightStream Research

Supun Walpola

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

Alibaba Group Holding  / Equity Bottom-Up

<p>Alibaba’s 3Q FY03/19 results are a mixed bag. The China Commerce Retail sub-segment seems to be slowing down with new customers generating less incremental revenue. However, the marginal profitability of the Core Commerce business has increased, implying that the profitability of international and new e-commerce operations are improving. Moreover, Alibaba Cloud continues to grow at a healthy rate and the losses now seem to be more “under-control” than “unruly”.</p>

Alibaba’s 3Q FY03/19 results are a mixed bag. The China Commerce Retail sub-segment seems to be slowing down with new customers generating less incremental revenue. However, the marginal profitability of the Core Commerce business has increased, implying that the profitability of international and new e-commerce operations are improving. Moreover, Alibaba Cloud continues to grow at a healthy rate and the losses now seem to be more “under-control” than “unruly”.

Alibaba: China E-Commerce Continues to Slowdown but Alibaba Cloud Losses Are Now "Under Control"