I Own This Stock Amsterdam Commodities Stock - Acomo Stock

[@Politik-mit-Kopf]

Is there an update on this one? A lot of price development. Has it now become more value?

[@willgao]

Thanks for the analysis Sven! ACOMO is now down at 17 EUR a share, might be time to accumulate more

[@danielegianetti5599]

I have been thinking also to accumulate more to my initial purchase, not sure yet if it's worth to wait some couple of months: as it has a large institutional owners (around 43% as far as I could read) it's likely there will be more selling as generally they follow the trend, in this case a negative one

[@Basti85]

Awesome to see this analysis of this stock from your research platform. Very interesting. Love the analysis of more unknown stocks and not the hyped ones.

[@timstammen8074]

I like is when you share research on these unknown companies. Everybody always talks about the big ones, which is getting less interesting. No value there 😅

[@max77vvxf5yvh]

Yes, no value in lvmh which had a brilliant report on Thursday!😂

[@joshrog6535]

@@max77vvxf5yvh just because there is a brilliant report does not make it value 🤣🤣 you probably think Nvidia is Value

[@max77vvxf5yvh]

@@joshrog6535 1. Compare the profit margin of lvmh and Amsterdam commodities 2. See what happens to both stocks during the recession 3. Take a look at average annual increase of income/sales/capitalization 4. Consider debt

[@Value-Investing]

thanks!

[@Wrex327]

@@max77vvxf5yvh but that’s probably already priced in in case of LVMH. With smaller caps you have a higher chance to find a jewel.

[@karlandersson6]

Thanks for the input! I hade some good experience investing in Dutch BESI after a thorough comment under one of your videos when it was at a low valuation. Made 100% on them

[@Value-Investing]

Great to hear!

[@chocolatesaltyballs85]

@@Value-Investing is it possible to get an update on this stock please? Overall it looks like a good business with a decent moat, but the dividend payout ratio seems very high.. Thanks!

[@dividendking3686]

Thank you Sven for bringing this to my attention. I did some research on Acomo this weekend. Going back to 2010, their dividend has been slashed a few times BUT still the dividend CAGR is at 11,6% over the last 13 years - impressive. I used a 12,5% discount rate and a 6-8% dividend CAGR for the next 10 years (6% year 1-3 and 8% year 4-10) with a terminal multiple of 20-25 (normal and best case), for the worst case I slashed the dividend for 2 years, reinstated it on year 3 for €1 and then growing it with 2% to year 10 and a terminal multiple of 15. Normal case €24,12 (60%) Best case €27,76 (30%) Worst case €9,29 (30%) Mixed price of €21,88 and with a 5% margin of safety (even tho I used a 12,5% discount rate as a margin of saftey) I get a price of €20,79. I sold one of my companies that eliminated their dividend (cyclical business and not a good outlook the next couple of years) and bought Acomo since I believe I can get a bigger return and a great business with high demand products.

[@danielegianetti5599]

It took a bit of patience ... but Q3-24 results from Acomo today are VERY rewarding 😁😁 So glad I locked a remarkable dividend yield by investing when stock was "crashing" ...

[@Value-Investing]

:-)

[@jez5192]

Since this video was posted the stock price is down around 23%, perhaps an update is due.

[@Value-Investing]

let me check if I can fit it in somewhere

[@mahernajjar9913]

They have very high debt and low cash levels, high inventory, they have also been issuing more shares in the past few years leading to increased dilution, and no recent growth in revenues. It seems more like a high risk low reward play in this high interest environment! There is a reason this stock is so cheap…

[@Value-Investing]

thanks for sharing!

[@CurateHub]

My advice to new investors: Buy good companies stocks and hold them as long as they are good companies. Just do this and ignore the forecasts and market views which are at best entertaining but completely useless. I’ve only ever saved($510k), never invested but want to start.

[@debrab7844]

My portfolio has good companies, however it has been stalling since last year. I have approximately $200k stagnant in my reserve that needs growth.

[@manylinkz.lining]

As with any big financial decision , it’s important to keep your guard’s up for economic risks. However, smart planning ,time management and seeking advise from a financial adviser can help keep you and your money safe.

[@alexanderfinlay9639]

I agree with you. I ventured into stock with less than $100K, and now I'm about 17K short of half a million dollars. Credits to Kathleen Carole Yanelli . She's verifiable

[@alexanderfinlay9639]

@John Tipton-butler She’s a hlghIy-sought out advlser, so I’m not certain she’s acceptlng new intakes, but you can give it a shot. It wouldn’t be proper to just Ieave her number Iying around, but she has a webpage you can look at if you googIe her name

[@CurateHub]

@@alexanderfinlay9639 Thanks for sharing, I just looked her up online and I would say she really does have an impressive background on investing.

[@unktzor]

Nice! I was hoping on a video on Acomo when you mentioned it in the 1hr long interview! :)

[@Value-Investing]

Hope you enjoyed it!

[@TheBooban]

I thought you exited the stock market? Which other stocks do you own? Those are the ones I am mostly interested in hearing your analyses on.

[@Value-Investing]

you thought wrong!

[@DerNichtschwimmer3]

Great overview! The buisness really seems interessting. My next step is to look at the history of the leadership, their compensation and the outlook on the longterm stability regarding the positions on top. As it is inticing as a longterm compounder i want to have a reasonable assurance that the overall strategy and execution remains the same as it has been succsessfull so far. At the moment it seems to me to be a good business at a fair price! Again thank you for your work and the value you create for me! I certainly learn a lot from your videos!

[@Value-Investing]

:-)

[@fregger74]

Looks okay, but i dont really see a real moat. Seems like another company (aspecially a bigger one) could easily compete and take market share from them.

[@Value-Investing]

thanks for sharing!

[@nickvandersangen3170]

Hi Sven, mind to make an update on this after their last earnings a month ago?

[@giuliofz]

However roic is decreasing 😬😬 and dividend have been not well covered wrt EPs. Are the metrics still ok?

[@rangouel]

Thanks for the overview of a good business. Just to mention a concern which was not heard. The inventory is 2/3 of their current assets. I think it is a little bit suspecious to have so much inventory and i dont understand why. The inventory is about 3.25 times their monthly sales. Is this normal?

[@Value-Investing]

yes, they are traders, so they buy, ship, store and sell

[@Value-Investing]

but good point, it is important to watch the inventory and the time of disposal

[@nper7142]

When you start sharing this on KZbin I could just as well end my paid subscription.

[@joshrog6535]

Let’s be honest he’s sharing a little snippet of the portfolio. I have the platform and I’m not to bothered he is sharing ACOMO it’s not a buy now it’s interesting but not a buy and he says he “owns it” yea it’s only 2% because it’s not at the right valuation yet. His platform still provides external value if he started sharing some of the better ones then maybe that wouldn’t be good but ACOMO now isn’t that big of a deal in my opinion. All he’s done is give KZbin the name of the company really if you we’re gonna buy it you would need to do a hell of a lot more research the king of research we have in the platform.

[@andrejvangelski4514]

I would not bother even if he shares all the stocks. 80% of the game is knowing when to sell, when to buy, when the fundamentals have changed, etc. and that’s what you get with the paid plan.

[@Value-Investing]

actually if you read the comments about the company, you will see how many don't get the business, thus there is value in testing the market too. Plus, I don't think sharing one of the stocks covered on the research platform here or there diminishes the value of it. I'll keep covering, maybe buying or not at the right price, compare to others and I won't mention it for a few years anymore here :-)

[@sebfox2194]

Why? Is this the only thing in the paid subscription?

[@joshrog6535]

@@sebfox2194 the paid research platform is Sven’s proper job and may I say he does an excellent job and well worth the small sum of money for a year subscription. However it only works if you have money to invest. I personally wouldn’t think Sven’s platform is worth it if you don’t have a lot of money to invest. If you only have 10k then it’s not worth as it’s to much of the principle but if you have big money to invest it’s 100% worth it and very cheap tbh. Like I’m investing close to 500k in the next couple of years so he only has to improve my results by less than 0.1% per year which I think the research definitely will do. If you have money to invest I’d get the platform it’s well worth it.

[@pieromalutta8457]

Sempre ben druze Sven, grazie per il servizio

[@Value-Investing]

grazie!

[@justone1786]

What's the competitive advantage in organic foods? Top line growth without moat is likely to be value destructive, isn't it?

[@Value-Investing]

this isn't about selling your organic smoothie, this is about providing ingredients to the organic smoothie maker and using the skills and connections they build over centuries!

[@justone1786]

@@Value-Investing Thanks for the response, it makes sense! Relationship-based businesses for life hah

[@siggiAg86]

ahh Sven don’t push the stock price up!!!

[@Value-Investing]

:-)))

[@hanst7218]

With fake money or real?

[@Setebosify]

@Sven - agree with other commentators, update to this one would be super interesting.

[@Value-Investing]

in one hour and 20 minutes

[@sa6ab]

I love your "I just finished Harvard, I'll go work for..." test for a classic boring company 😀 So true :)

[@Value-Investing]

:-))))

[@billyjohnson9166]

Your a genius Sven

[@Value-Investing]

no I am not !

[@cfii2fly]

Like many value picks this one is down one year later after the video was published. Makes one wonder?

[@Value-Investing]

exactly, that is the difference between owning a business and just wishing for stocks going up

[@maxjames00077]

One question! Do they have a moat?

[@miguelramos706]

Do you think there is a possibility of Mccormick acquire them ?

[@Value-Investing]

at the right price, and when the growth limits are reached, it could be sold

[@eugenebrandon1533]

Whoever turns over the most stones will be the most successful.Keep an open mind.Dont always think if its expensive it is good.Ive been buying lnd.We will see

[@Value-Investing]

:-)

[@chrisserna5763]

Fav type of your vids, dead interesting 👍

[@Value-Investing]

thanks!

[@eddy563]

Very nice pick, very defensive business.. slow and steady wins the race. But Sven I did not see you talking about the risks of this pick.. what if higher interest rates for longer inhibits them from doing another debt funded acquisition? If they issue shares, we will be toasted.. now if they revert back to the underlining business, it’s a mediocre commodity business with no moat: 4.5% net margin, 6% return on assets, very leveraged capital structure, 2.75x book value which is made up of only inventory. Do they have brand value beyond the value on the balance sheet? I am not sure as I don’t know the company deeply enough. I am in Canada, but maybe if I was in The Netherlands I would have better insight. Very interesting pick.

[@Value-Investing]

:=)

[@akshaypotdar1840]

Could you provide some insight into how did you arrive at growth rate projection of 4% for stock valuation?

[@Value-Investing]

the business grew even faster inthe past, plus with inflation at 3%....

[@whiskey_tango_foxtrot__]

They liked debt at 0%...will they like it at 6%?

[@Value-Investing]

:-)

[@alejandrovidal7535]

But the gross margin is veeery low isn't it? so if costs increase a litle it will lose money

[@StocksBot]

That's the usual for most trading/retail business.

[@rubenschipper5511]

The only problem is if I really understand the market for this company. Besides that, great video!

[@Value-Investing]

that is why I do what I do, this is just a snip in time, then what counts is the following of a business over years!

[@RavenRaven-se6lr]

Value investing to the tee👍🇦🇺

[@maxjames00077]

Great video! I'm interested, but need to read a lot more about this company/market.

[@Value-Investing]

Go for it!

[@RafitoMembroza]

I looked at it some months ago, but the management and the toxic company’s culture pushed me away, even though the compelling valuation. This is an intangible value from companies that you can’t measure with numbers but it’s long term what drives the success and good numbers

[@XMan-mi6gs]

Looks like a great stock. I am going to look how this stock fits in my portfolio. Thanks for your research.

[@Value-Investing]

Best of luck!

[@gabrielflaim9984]

Hi Sven nice video. Can you make one on the japan companies that Buffet bought a few days ago? They have a low pe and have compound over time

[@Value-Investing]

will do!

[@lorenzobambi2972]

Hi Sven. Thanks for the video. One doubt: from Tikr I see Acomo at 20.21 euro in Dec 2016 and now it is 22.30.Max 28.50 July 2017. Acomo is stable...too stable I would say. Am I reading the chart wrongly?

[@Gr8erThan8]

Great vid! What do you think of the Japanese companies Warren buffet just bought? PE ratio of 5….growing dividend. Earnings yield ~14%….also, he has been issuing Japanese bonds…..so seems like Warren buffet is borrowing yen at these current low rates and buying high yield Japanese companies with the money….if rates rise, he wins big.

[@extramild1]

If that is your interest why not buy shares in BRK and get Buffett to pick your Japanese stocks rather then you trying to do it.

[@Value-Investing]

Will make a short about it!

[@Gr8erThan8]

@@extramild1 buffet won’t pay me a divi and rn shares are pretty pricey.

[@cchat3491]

Nice video Sven! Is this the same as ACNFF in USA stock market?

[@Value-Investing]

I don't know about ADRs, you have to ask the issuing broker!

[@TheBuckonator]

Great video, sounds like an interesting business. Another food business I like is Delfi Ltd, have you ever looked at them?

[@TheBuckonator]

One risk I do see with the company is that their leveraged acquisition strategy was likely helped by unusually low interest over the past 30 years and could face headwinds if these are higher going forwards

[@Value-Investing]

I haven;t yet, thanks!

[@lucian2643]

Thank you very much for this tip too :)

[@Value-Investing]

this is just a snip of the research, just a part of the process!

[@larslorsheijd9976]

Nice one! If you change the terminal to 20 and you are not for from the todays price.

[@Value-Investing]

:-) but that is a bit high I think

[@larslorsheijd9976]

5% dividend yield for a company that is growing slow... I think its reasonable but to be safe 15 is better 😁. Lets hope it drops below 18 again...

[@ivanmendez8260]

Hi Sven, what are the two most undervalued stocks right now (including small caps) as per your opinion?

[@Value-Investing]

I don't know, haven't looked at all 50000 listed stocks yet!

[@drawdescorp]

Hi Sven, there is a chango of management in this company, what criteria do you use to make an evaluation and the impact of this kind of change? As always thanks for the wisdom sharing!

[@Value-Investing]

That is hard to know! Only after

[@RonaldRendite]

Is the Businessmodel same as Baywa AG just different Commodities?

[@Value-Investing]

don't think so

[@f_nie_631]

Sven, I recently bought Acomo because of your recommendation. It is trending down with lower highs and lower lows. Could you please share your thoughts on why the stock is going down, in your opinion?

[@Value-Investing]

cocoa price volatility, the rest is business as usual. But, a question, did you buy it for the stock to go up or to own the business?

[@f_nie_631]

@Value-Investing Thank you for your reply. I will hold it for the long term. However, I must admit that, looking at the 5 year price chart, I thought that the share price had more or less bottomed when I bought at 17.40 euros.

[@93kk0]

@@f_nie_631 It hasn't been business as usual for the past 1-2 years. There have been problems internally in the company and people left. Rather new CEO left (maybe in reality fired). Will they stabilize? We'll see. Beside that Sven's comment is correct, in the sense that commodities go up and down a lot.

[@gabrieldzik1938]

Hi Sven - Great material here - If you don't mind could you please share your opinion about jnj spin-off - kenvue! Do you think it's gonna be a similar story like at&t spin off when warner bros shares were sell off by at&t shareholders not wanting grow stock? What do you think would be best action here - hold or sell kenvue shares?

[@HealingSounds-we6oq]

Anyone knows why the stock is falling so much ? Cant find any information.

[@Value-Investing]

CEO fired, some issues with their acquisitions, we will see in Feb how material!

[@whiskey_tango_foxtrot__]

Food commodities can keep up with inflation

[@Value-Investing]

:-)

[@_al_c2638]

good analysis

[@Value-Investing]

:-)

[@hekimhakan3909]

nutrien stock pls

[@Value-Investing]

thanks for suggesting!

[@koolklem7889]

Funny, baught some last week 😊

[@Value-Investing]

:-)

[@msarros1]

Dear Sven. Allow me to give your a suggestion of a stock that not many know about to do some research. The company is called Pool Corp (POOL). Thank you for your video.

[@havrenne]

Looks good Sven ! However, considering the recent boom... Aren't you afraid it's now a top in their cycle ?

[@Value-Investing]

depends on the strategy you have with it!

[@dialogsemiconductor2039]

Did you actually own this stock or just in the hypothetical model portfolio?

[@PonderDuke]

Yes he owns it in real life. This is not the paper trading portfolio.

[@Value-Investing]

owned in the real model portfolio, but there is a strategy around it, not discussed in the video here

[@mikkelhansen3714]

Hey Sven. Great video as always! i am wondering if you are considering buying short-term treasuries with your cash, as cash will undoubtly lose its value, and bonds might keep most value. Buffet would probably do this but it might not fit a very opportunistic investin strategy as stocks could crash at a time where you dont want to sell your bonds. Also if we keep seeing high inflation, at what coupon would consider buying treasuries? 8%, 10%, 12% or 15% and for what term?

[@Value-Investing]

I focus on finding great business, not on my cahs:-) just a mindset thing.

[@gergelyvoros2717]

Thanks for the video, Sven. Very interesting. However,--from a bird's eye view--my only issue with this company is that the ROIC has been steadily decreasing year over year from around 14 percent in 2014 to around 7/8 last year. With WACC increasing recently, this has stopped me from researching it further. In your view, is there a chance that ROIC will mean revert? Or has it been dropping for structural reasons?

[@matteoperini19]

follow

[@marcusulpius3058]

The decrease of ROIC is partly explained by lower profit margins, which indeed is a concern. However, the ROIC decrease is to great extent attributable to ever increasing inventory levels, especially since covid took off. However, having regard to H2-22, there is indication that inventory level is stabilizing. On a general note, please remember they are traders and may accordingly be opportunistic; this may cause swings in roic

[@lllleooosss]

Yeah probably just follow it because for now the roic seem to remain steady with this kind of operation…

[@Value-Investing]

sorry, as Munger says, I can't discuss WACC :-(( P.S. this is a business you can't apply the above as it is a trading business/ supply - as inflation goes up, revenues go up, everything goes up, and ROIC goes down, even if profits are higher... thus academics don't work - plus, check what Munger says about WASS

[@tdowell8615]

@@Value-Investing Sounds like you think inflation will be higher for longer then.

[@iurevych]

Not sure guys, 6% dividend - taxes - inflation doesn’t seem like a great investment, considering the stock price is flat.

[@Value-Investing]

:-)))

[@iurevych]

@@Value-Investing Sven, shed some light as to your target goal for this stock ;)

[@michaelfishkop779]

As mentioned by author, the stock has gone nowhere for last 7 years (even taking into account YTD +20%), so the only alpha has come out of dividends (5% p.a)....where is the upside in this nuts & tea underperformer? Even AEX by itself in last 5 years left in the dust! Gotta dig deeper for gems, man.

[@joshrog6535]

It means it’s good it didn’t go anywhere for 5 years 🤣. It was overvalued now it’s fairly valued. All these stock you look at the have gone up a lot to overvalued prices will probably go nowhere for 10 years it’s all about valuation 🤣. You just don’t get it

[@michaelfishkop779]

@@joshrog6535 Value 101: it would be good opportunity to buy when the price is deflated when market overreacts to the news, but do not correspond with a company's long-term fundamentals. If Apple drops 20% tomorrow, it would be the mother of all to value investors. What I meant is, this stock is dead money returning 0% in past 5 years, meaning it hits constant resistance level and does not signal currently a good entry point. People need to stop cheering stocks hitting tops.

[@andrejvangelski4514]

@@michaelfishkop779 the phrase “hits resistant levels” tells me that you need do understand the concept of value investing better. If the stock price hasn’t moved in 5 years but the earnings have doubled it just means that it’s significantly cheaper and that the PE went from 24 to 12… i would love nothing more for this stock to go nowhere in the next 10 years and just increase the earnings and the dividend… Btw the current dividend yield for 2023 is 7.2%. In this video Google is showing last year’s dividend yield which was significantly lower…

[@joshrog6535]

@@andrejvangelski4514 yea all the talk about “resistant points” is stupid 🤣. At the end of the day if earnings grow and double in 10 years and the stock goes no where they will be paying a 14-20% dividend per year now do stocks trade with a 14/20% dividend no all this bullshit about charts means nothing. At the end of the day the reason it hasn’t moved has nothing to do with resistance points it’s all to do with valuations. 5 years ago it was at a higher P/E now it’s at a lower one. It’s simple if they keep grinding like that have done in the past it will be a good investment and it will go up because there are no stocks paying 15% dividends 🤣

[@joshrog6535]

@@michaelfishkop779 Apple needs to fall more than 20%

[@ViliStegne]

Sven, very good video. Can you give us your open (buy) price for ACOMO?

[@Value-Investing]

we all have different buy prices, that depends on the investor, you need to know yours. Plus, I don't have fixed buy prices as I always have to compare with others! Thirdly, that is research platform material only :-)

[@ViliStegne]

@@Value-Investing fair enough =)

[@max77vvxf5yvh]

LOW MARGIN!!!

[@Value-Investing]

:-)

[@tomstory8502]

Thanks for giving away research that I paid £350 for ☹️

[@Value-Investing]

I don't see it like that, this is just a small part of what I do and you know that :-) Plus, the value is in the process, not the snip overview of a business!!!

[@utah938]

The stock is down 22% since you made this video, so risk reward is better for sure... time to buy? Sven give me a sign 😂🎰

[@Kawasakifreak1]

Low operating margins - no (real) competitive moat imo - no thanks.

[@daysofcarnivore]

Nice wig tho

[@Value-Investing]

:-)

[@cchat3491]

Stock way down, updates would be very helpful

[@Value-Investing]

CEO resigned, Acquisition issues!

[@Overbelaste_Belastingbetaler]

it's a loser. revenue shrinking.

[@Value-Investing]

revenue depends on food prices

[@Overbelaste_Belastingbetaler]

@@Value-Investing still losing

[@dexterhatchet3529]

Stock Suggestion: UFI - Unifi Inc. - US Micro Cap $140 million Recycled Garn (REPREVE®) from plastic bottles | Textile Manufacturing UFI has problems at the moment because of low demand in clothing, high inventories at retailers, low demand in their products Valuation dropped too much, overreaction of the market, undervalued right now, Lots of Insiders Buys recently Catalysts: Inventories will decrease and demand will go up again, more future demand in sustainable recycled Garn (REPREVE®) Thank you Sven!

[@michaele.strasser9641]

@Sven I am not shy to criticise the channel, but this time not. I like the idea and not another time Apple or Alibaba. Thanks a lot for the idea. I think this swedish company is worth spending 3 minutes of your time to figure out if I am right. It has an interesting aquisition twist: Teqnion

[@Value-Investing]

is Sweden still expensive in general!

[@zagreus7680]

great video! as always! Plz, if it possible - NYSE: FNF