Research Reports

This mid-market professional services firm with a capital light business model trades at an undemanding FCF multiple, and has plenty of room for growth.

tinyBuild has sent out a circular with the details of the equity raise. Regrettably, it looks like the dilution is going to be around 50%.

Things have taken an unfortunate turn for the worse at tinyBuild. The company is facing a liquidity crisis and looking to raise equity.

I wrote about tinyBuild back in March, and it's fair to say a lot has happened since then. This is going to be an update covering, amongst other things: recent game releases, titles currently in development, the 2022 annual report, the recent trading update and outlook for 2023,

What follows is a brief update on Warner Bros. Discovery, covering the events that have taken place since I published the original write-up in February. Max Launch On 23 May, WBD released their new DTC product with the name and tag-line: Max - the one to watch. They announced and

Business Overview Ecora Resources (ECOR) is a royalty and streaming company based in London, and listed on the London Stock Exchange (LSE) with a market capitalisation of ~£300m - at a share price of £1.15. It also has secondary listings on the Toronto Stock Exchange (TSX) in Canada and

This post provides an update on Taylor Maritime Investments (TMI) and the events that have taken place since my initial write-up in May last year. If you're not familiar with the company or want a refresher, take a look at that post first. The first thing to mention,

Business overview tinyBuild is a video game developer and publisher with global operations headquartered in the US. The company listed on the Alternative Investment Market (AIM) of the London Stock Exchange in March 2021 for a price of £1.69 per share, equating to a market capitalisation at the time

Business overview Fuller, Smith & Turner (Fuller's) is a hospitality business listed on the London Stock Exchange with a market capitalisation of c.£312m. The company owns and operates a portfolio of pubs and hotels located in the South of England, which are divided into Managed Inns, directly

Business overview Warner Bros. Discovery (WBD) is a leading global media and entertainment company with a portfolio of content and brands across film, television and streaming. It has a presence in over 220 countries and territories, and produces content in 50 different languages. An incomplete list of its iconic brands

The size of this highly profitable and growing US industrial company makes it too small for many institutional investors, which in turn creates an attractive opportunity for individuals. Adequate margin of safety is provided by a robust balance sheet, with net cash, and a P/E of 7.1. The

This UK listed insurer currently trades at a discount to its book value and at an attractive multiple of its average cash flows of the last 15 years. Recent market volatility and the impact of divestments have clouded the numbers despite continuing strong performance from its business operations. This has

Originally published on May 22, 2022 This recently listed specialist dry bulk shipping company offers an attractive opportunity to capture the upside of the supply-demand dynamics playing out in the minor bulk segment of the shipping market, whilst providing protection on the downside with a strong balance sheet, well supported