Analysis on GARP with strong economic moats, Moat Investing

Moat Investing

We are a group of experienced investors that like to dig deeper into stocks to find growth stories at a reasonable price with strong economic moats. We also aim to conduct high-quality analysis by doing deep dive on valuations, key business drivers, risk/reward, and different future scenarios.

Analysis on GARP with strong economic moats

GARP with strong economic moats

Equity Bottom-Up

<ul>
<li>Net revenues came in at $1.9 bln (+73% on an FX neutral basis) while Gross profit reached $806.6 mln (43% margin in line with Q3 2020).</li>
<li>Pretax income was $126.1mln, (+139% yoy increase) and Net income was $95.2 mln i.e. $1.92 EPS GMV topped $7.3 bln, (+30% YoY on an FX neutral basis).</li>
<li>MELI is one of the most promising equity stories in the broad e-commerce arena and is set to unlock value for its shareholders</li>
</ul>


Net revenues came in at $1.9 bln (+73% on an FX neutral basis) while Gross profit reached $806.6 mln (43% margin in line with Q3 2020).
Pretax income was $126.1mln, (+139% yoy increase) and Net income was $95.2 mln i.e. $1.92 EPS GMV topped $7.3 bln, (+30% YoY on an FX neutral basis).
MELI is one of the most promising equity stories in the broad e-commerce arena and is set to unlock value for its shareholders


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