GTT: The Leader in LNG Transportation
Gaztransport & Technigaz(GTT) is the French technology company that almost monopolizes membrane systems for the transportation and storage of LNG.
It does not build ships. It designs and licenses the technology to shipyards and collects royalties for each tank.
This gives it an asset-light business model with extremely high margins.
It stands out because its technology has become the de facto standard for modern LNG carriers.
It is not without risks, including the cyclical nature of orders, geopolitics, and technological competition.
BUT, for the coming years, the outlook remains impressive.
Orders are at historically high levels, providing revenue and cash flow visibility through 2029.
Therefore, GTT has a dominant position in structurally driven LNG demand, high margins, strong FCF, and dividends that have already shown significant growth.
The stock has gained 248% over the past five years.
And we have also locked in a dividend yield of over 4%.
OURA IPO
Oura announced an IPO at a valuation of approximately $15 billion.
The numbers are as follows:
9-month revenue: $1.21B, +74% YoY
Net income: $60.8M vs $1.6M last year
Paid members: 5M, +100% YoY
Rings sold: 3.1M, +75%
Paid-member retention: ~85%
In other words, the stock will be trading at a P/S ratio of around 10.
Why I'm not excited
Wearables, and especially rings, are not highly accurate in their measurements.
The subscription model carries risk, especially when there are competitors that do not charge a subscription.
The company has only one product, which creates concentration risk.
Of course, I could also be wrong, and the company's growth could surprise us positively.
Would you invest in the IPO? (👍/👎)
