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March Ben Graham Net-Net Pick: A UK listed telecommunications consultancy company in the midst of a turnaround

March 09, 2014
GuruFocus

GuruFocus

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March Ben Graham Net-Net pick is company specializing in telecommunications consulting and project management. They maintain an enviable market niche, and are recovering from the loss of a key customer.

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March Ben Graham: Net-Net Newsletter’s pick is a consultancy firm. The company:

  • Is selling for £10m, which is 5x their past five years average earnings.
  • They have a net cash position, and have paid off a significant amount of debt in the past few years.
  • Management is highly invested in the company with a significant ownership stake.
  • When profitable the company pays out 50% of net income as a dividend.

Download your copy of the Ben Graham: Net-Net Newsletter today

“It always seemed, and still seems, ridiculously simple to say that if one can acquire a diversified group of stocks at a price less than the applicable net current assets alone...the results should be quite satisfactory. They were so, in our experience, for more than 30 years.”- Ben Graham

What’s a Net-Net?

A net current asset value bargain—or net-net—is a stock selling for less than the value of its current assets—cash, receivables, and inventory—minus all liabilities. Basically, it’s a stock selling for less than its liquidation value.

What’s the Ben Graham: Net-Net Newsletter?

GuruFocus’s Ben Graham: Net-Net Newsletter is written by Nate Tobik. It picks one new net-net every month. The newsletter goes out to subscribers on the first Friday of the month. The newsletter looks for stocks that have both a tangible margin of safety and reasonable upside potential.

So, download your copy of the Ben Graham: Net-Net Newsletter today


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