jeudi 30 septembre 2021

GDI integrated facility services (GDI.TO)

Medici is one of my favorite investment firms. Most of the times, we like the same companies. Also, they're not into bullshit marketing like that sexy girl who says she lost her job in 2011 and then turned 500 000$ into 1.5 million dollars while dancing like she's in a fucking club. How I hate these fucking pretty girls who know how weak are men. 

Anyway, most of the times I agree with Medici, but at first I didn't agree with them about GDI. That janitor company didn't have appealing numbers in the past, in my opinion. Also, I didn't see the future of such a company in a COVID environment where a lot of people work from home. Who needs to clean office spaces when they're empty? That company needs germs and not shit spots in the toilet to be able to survive. 

Well, given the recent results of the company, it looks like offices owners want to clean more than before. I'm not sure if I understand why it happens, but it happens. 

Apart from that, it's not a very sexy industry and I don't see how competition could be a threat for such a business. Actually, GDI is an integrator that buys competitors. So, they are the Couche-Tard of shit spots. 

I still have a doubt about the new work society after COVID. But apart from that, I think that it's a great company which is not too expensive that will remain relevant as long as there will be humans in shopping centers and work offices.  

Here's a few numbers:

FWD PE:  23

ROE: 18

Long term debt: Very reasonable

EPS 2015: 0,12$

EPS 2020: 2,12$

Between june 2020 and june 2021, revenues grew while EPS decreased a bit. However, it's still great given the fact that we went through apocalypse during that time.

A name to remember.

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