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Euro Crisis! List cheapest Euro companies under 1b m-cap!


Laxputs
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I have very few European companies I am watching. There must be some micro-cap gems out there where the baby is being thrown out with the bath water.  So if you have some ideas try to fit some rough guidelines:

 

-Under 1b mcap

-Decent management

-Cheap on a FCF multiple basis and/or EV/EBITDA

-Low debt (high interest coverage costs if debt)

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Easy

 

Ipsos  SA, business is similar to Nielsen, it is a good biz, monopoly controlled by 4 firms. EPS will be 2,66€, it trades for 18€ so it is like 6.7x PER, revenues flat, 2x debt/EBITDA, comps in europe like GFK with similar margins, revenue trends and debt trades for 15x.

 

it has lots of insider ownership. the big drop in summer was caused because they said they won't grow in 2014 and 2015... market was expecting growth like it was in the past at 10%... it got hammered. Euro hurt them in the first part of the year but now is reversing.

 

it is curious, it's trading at similar levels of 2008 crash...

 

Could be a potential acquisition target for Nielsen.

 

it is very resilient business during reccesions.

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