Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 18 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

Ticking Different: A Comparison of the World's Listed Luxury Watch Retailers With Exposure to Rolex

Oriental Watch (398 HK): Cheap, Cash-Rich, and Catching a Tailwind in HK Watch Demand

Oriental Watch (398 HK): Ex-Dividend, Cash 60% of Mkt Cap and 12% Div Yield, Luxury Watch Recovering

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

Watches of Switzerland / Equity Bottom-Up

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<li>
Privileged Rolex distribution. <a href="https://www.smartkarma.com/entities/watches-of-switzerland-group-plc" target="_blank" data-smartkarma-citation="entities:34600:1" rel="noopener">Watches of Switzerland (WOSG LN)</a> is one of Rolex's most trusted retailers since 1919, with no online or price competition, no inventory risk, and pre-sold demand.</li>
<li>
The US is &gt;50% of group revenues.  US revenue grew 24% to $1.24bn in FY26, past 50% of sales in eight years, with a long runway as Rolex lifts production.</li>
<li>
 Cheap for the growth.  The shares trade at 8.2x FY26 EV/EBITDA and 18.2x P/E, with mid-teens ROCE, double-digit growth, and a return to net cash.</li>
</ul>



Privileged Rolex distribution. Watches of Switzerland (WOSG LN) is one of Rolex's most trusted retailers since 1919, with no online or price competition, no inventory risk, and pre-sold demand.

The US is &gt;50% of group revenues.  US revenue grew 24% to $1.24bn in FY26, past 50% of sales in eight years, with a long runway as Rolex lifts production.

 Cheap for the growth.  The shares trade at 8.2x FY26 EV/EBITDA and 18.2x P/E, with mid-teens ROCE, double-digit growth, and a return to net cash.


Watches of Switzerland (WOSG LN: Rolex-Anchored Compounder Scaling in the US At 8.2x EV-EBITDA