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>Number of orders reached 40.9 mln (up 180% YoY).</li>
<li>GMV reached RUB 89 bln (up 94% YoY).</li>
<li>Adj EBITDA was RUB – 9.1 bln equal to 10.3% of GMV, compared to Q2 2020 (RUB 1.8 bln equal to 3.9% of GMV) reflecting the sharp increase in volumes.</li>
<li>Operating cash flow was RUB – 7.7 bln (RUB - 2.1 bln in Q2 2020).</li>
</ul>


Number of orders reached 40.9 mln (up 180% YoY).
GMV reached RUB 89 bln (up 94% YoY).
Adj EBITDA was RUB – 9.1 bln equal to 10.3% of GMV, compared to Q2 2020 (RUB 1.8 bln equal to 3.9% of GMV) reflecting the sharp increase in volumes.
Operating cash flow was RUB – 7.7 bln (RUB - 2.1 bln in Q2 2020).


Ozon Holdings: Healthy Q2 Growth But Slower-Than-Expected Path To Profitability

Ozon Holdings PLC

Ozon Holdings: Healthy Q2 Growth But Slower-Than-Expected Path To Profitability