The Keepers Holdings, Inc.
Keepers Holdings: Cheap Consumption Multibagger in the Philippines
Equity Bottom-Up
1.4k Views, 22 Jan 2022 19:51
EXECUTIVE SUMMARY
- The Keepers Holdings, Inc. (KEEPR PM) is a play on the imported liquor distribution business in the Philippines, with a >74% marketshare conservatively growing at 12-15% CAGR.
- Trading at 11.5x/10.0x FY21/22 PE with 35% of the market capitalization in cash ( implying an ex-cash PE of 7.5x), the stock is cheap with a significant margin of safety.
- Value enhancing asset injection angle with potential for the chairman Lucio Co to inject his Bodegas William and Humbers (W&H) stake into the listco.
WHAT’S TRENDING
Rising
Sameer Taneja
Equity, Bottom-up Analyst
Investics Research
Equity Bottoms up analyst Ex-Kelusa ( 2007-2015). Covered over 80 stocks in the industrials and materials sector.
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