I am a big fan of a systematic approach. Over the
years, I have developed a system for my investments in shares, ETFs and bonds.
Investment decisions should be made without emotion and based on facts.
As a rule, I hold shares for the long term for years.
However, there are also times when I trade news, for example, and only hold
positions for the short term. I would describe myself 90% as an
"investor" and only 10% as a "trader".
In my many years on the stock
market, I have experienced a lot of ups and downs. It is therefore now very
important to me that I can react flexibly and at short notice to changes on the
markets. I have designed my investment portfolio (securities such as shares,
ETFs, bonds, excluding real estate) accordingly.
My investment style is a mix of value/momentum
investing. I place a high value on dividends. My TOP 25 stocks are the
stocks where I see the highest opportunities.
The valuation of the shares is based on various
criteria such as
- Sales growth
- EBITDA growth
- Profit growth
- Dividend yield
- FCF margin (free cash flow margin)
- PE ratio
- Enterprise value/EBITDA
- Price/book value ratio
- Price potential (derived from the "fair P/E
ratio") and
- Relative strength
My basic idea when investing is to buy a share at a
lower price than it is actually worth. I work with a "fair P/E ratio"
(P/E ratio - price/earnings ratio), which should reflect the fair value of a
share. If a fair P/E ratio of 15 is calculated for a company and it is
currently trading on the stock exchange at a P/E ratio of 10, then it would be
a good buy. The greater the gap between the fair and current P/E ratio, the
cheaper I am buying! I use this
"gap" to calculate the potential for future price gains, as the stock
market recognizes the "fair P/E ratio" sooner and unfortunately
sometimes later.
The weighting of "relative strength"
increases more and more over the course of the year!
The basis for the selection of which stocks to
consider are the trends/sectors/regions I have defined and which can be found here (in german):
What stands out:
- Many shares come from the energy and energy transportation (shipping) sectors.
- In terms of the region, most shares come from Norway and Canada
- Most of the shares are small or micro caps that "swim completely off the beaten track" and want to be discovered.
My top 25 stocks by weighting for 2024 are:
1. Gas Plus $GSP, ISIN: IT0004098510, is an
Italy-based company active in the natural gas sector. The fundamental key
figures for 2024 (own calculations): P/E ratio (price/earnings ratio) 2.2;
EV/EBIDTA (enterprise value/EBIDTA) 1.9; sales growth 15%; dividend yield 6.9%.
Highlight: High growth through new gas fields in Romania. Insiders own approx. 74%
of the shares.
2. MPC Container $MPCC, ISIN: NO0010791353, from
Norway, specializes in the operation of container ships. Key figures for 2024: P/E
= 1.9; EV/EBIDTA = 1.6; sales growth -15%; dividend yield 39.7%. Highlight: Profiteer of the tensions around the Suez
Canal (freight rates + freight routes).
3. MPH Heath Care $93M1, ISIN: DE000A289V03, from Germany
is an investment company. The listed investments are M1 Kliniken AG and CR
Capital AG. Key figures for 2024: P/E ratio = 2.1; EV/EBIDTA = 2.1; sales
growth 10%; dividend yield 0%. Highlight: Value of the M1 Kliniken stake is 2 X
greater than the company's own market capitalization. Insiders own approx. 60%
of the shares.
Share review in german: https://ppinvest-blog.blogspot.com/2023/04/1-euro-fur-30-cent-kaufen.html
4. Star Energy - $IGAS, ISIN: GB00BZ042C28, is a
United Kingdom-based energy company. The company is engaged in onshore energy
exploration, development and production of onshore oil and gas at its sites.
Key figures for 2024: P/E = 1.7; EV/EBIDTA = 0.8; sales growth 1%; dividend
yield 0%. Highlight: Cheapest value I know. A "non-cash impairment charge"
of £30m was recognized in 2022. Few people understand that Star Energy actually
delivers very positive results.
5. UET United Electronic Technology - $CFC , ISIN: DE000A0LBKW6, soon to change its
name to aconnic, is a Germany-based holding company specializing in the
provision of electronic products and services for telecommunications networks. Key
figures for 2024: P/E = 5.3; EV/EBIDTA = 1.8; sales growth 30%; dividend yield
0%. Highlight: Turnaround speculation with high growth in 5G. A possible Huawei
ban offers additional fantasy. Insiders own approx. 33% of the shares.
Share review in german: https://ppinvest-blog.blogspot.com/2023/11/turnaround-wert-mit-hohen-chancen-und.html
6. Okea - $OKEA , ISIN: NO0010816895, is a
Norway-based energy company. Key figures for 2024: P/E = 2.2; EV/EBIDTA = 0.4;
sales growth 37%; dividend yield 0%. Highlight: Very cheapest oil-gas stock
with high growth.
7. Awilco LNG - $ALNG,
ISIN: NO0010607971, is a Norway-based, fully integrated provider of liquefied
natural gas (LNG) transportation, owning and operating LNG vessels for
international trade. Key figures for 2024: P/E = 3.3; EV/EBIDTA = 4.1; sales
growth -5%; dividend yield 17.9%. Highlight: As the LNG ships are booked out at
fixed prices until 2025, the downside risk is limited. The high dividend yield
makes waiting for 2025 very pleasant.
8. Gravity - $GRVY, ISIN: US38911N2062, is a
developer, distributor and publisher of online games mainly in Asia (Japan, Taiwan).
Key figures for 2024: P/E = 3.4; EV/EBIDTA =0.12; sales growth 12%; dividend
yield 0%. Highlight: Company is sitting on a pile of cash. Without
acquisitions/dividends, EV/EBIDTA will probably be negative in 2025.
9. Cool Company - $CLCO, ISIN: BMG2415A1137, is a
Norway-based, fully integrated liquefied natural gas (LNG) transportation
provider that owns and operates LNG vessels for international trade. Key
figures for 2024: P/E = 5.4; EV/EBIDTA = 6.8; sales growth -5%; dividend yield
17.3%. Highlight: Similar situation to $ALNG. As the LNG ships are mostly booked
out at fixed prices until 2025, the downside risk is limited. The high dividend
yield sweetens the wait for 2025.
10. Odfjell - $ODF, ISIN: NO0003399909, is a
Norway-based company active in the shipping industry. The company is engaged in
marine transportation and storage of chemicals and other specialty liquids. Key
figures for 2024: P/E = 3.4; EV/EBIDTA = 3.3; sales growth 2%; dividend yield 14.3%.
Highlight: Profiteer of the tensions around the Suez Canal (freight rates +
freight routes).
11. METALS X - $MLX, ISIN: AU0000MLX7, is an
Australia-based tin producer. The company owns a portfolio of assets from exploration
to development. Key figures for 2024: P/E = 4; EV/EBIDTA = 2.9; sales growth
15%; dividend yield 0%. Highlight: Tin is the metal that will be most affected
by new technology (semiconductors, solar,...). Metals X will benefit from
rising demand.
12. Hafnia - $HAFNI, ISIN: BMG4233B1090, is a
Norway-based company active in the shipping industry. The group provides
maritime transportation services for petroleum and chemical products. Key
figures for 2024: P/E = 4.6; EV/EBIDTA = 3.1; sales growth 5%; dividend yield 17.1%.
Highlight: Profiteer of the tensions around the Suez Canal/Russia (freight
rates + freight routes).
13. Memscap - $MEMS, ISIN: FR0010298620, from
France is a leader in the development, manufacture and marketing of components,
modules, systems and solutions based on microelectromechanical systems (MEMS).
MEMS combine semiconductor microelectronics with micro-manufacturing technology
to realize entire systems on a chip. Key figures for 2024: P/E = 15.1;
EV/EBIDTA = 8.4; sales growth 23%; dividend yield 0%. Highlight: 52% sales
growth in 2023. Leading provider of high-precision, high-stability pressure
sensor solutions for aerospace and MEMS (Micro Electro Mechanical Systems)
technology.
14. BQE Water - $BQE, ISIN: CA0556402059, is a
Canada-based service provider specializing in water treatment and management
for the metal mining, smelting and refining industries. The company provides
operational services for water treatment plants and offers technical services
in the field of water management. Key figures for 2024: P/E = 7; EV/EBIDTA = 3.9;
sales growth 50%; dividend yield 0%. Highlight: BQE Water is in a "blue
ocean" as there are only a few competitors in a fast-growing market. Insiders
own approx. 55% of the shares.
Share review in german: https://ppinvest-blog.blogspot.com/2023/12/gunstiger-bewertung-mit-rasanten.html
15. Centrotherm - $CTNK, ISIN: DE000A1TNMM9, is a
Germany-based provider of technology and equipment for the photovoltaic
industry. Key figures for 2024: P/E = 4.6; EV/EBIDTA = 2.1; sales growth 35%;
dividend yield 0%. Highlight: High demand/growth in the fast-growing solar
industry. Owner holds approx. 90% of the shares.
16. Supercom - $SPCB , ISIN: IL0010830961,
is an Israel-based global provider of traditional and digital identity
solutions. The focus is on electronic surveillance of criminals. Key figures
for 2024: P/E = 7.4; EV/EBIDTA = 6; sales growth 10%; dividend yield 0%.
Highlight: Turnaround speculation, with high growth in the area of electronic
surveillance of criminals.
17. Pulse Seismic - $PSD, ISIN: CA74586Q1090, of
Canada is engaged in the acquisition, marketing and licensing of (2D) and (3D)
seismic data for the Western Canadian energy sector. The company owns the
licensable seismic data library in Canada. Key figures for 2024: P/E = 5.7;
EV/EBIDTA = 3.5; sales growth 1%; dividend yield 21.6%. Highlight: Pulse
Seismic is debt-free and claims to be the market leader in Western Canada. The
company "lives" from the data library built up earlier and no major
investments are necessary. Insiders hold approx. 20% of the shares.
Share review in german: https://ppinvest-blog.blogspot.com/2023/11/marktfuhrer-mit-gunstiger-bewertung.html
18. Klaveness CC - $KCC, ISIN: NO0010833262, is a
Norway-based fleet operator. The company owns and operates combination vessels
that can switch between dry and wet cargo transportation. Key figures for 2024:
P/E = 4.6; EV/EBIDTA = 4; sales growth -11%; dividend yield 12.8%. Highlight:
Profiteer of the tensions around the Suez Canal/Russia (freight rates + freight
routes).
19. InflaRx - $IFRX, ISIN: NL0012661870, is a German-based
clinical-stage biopharmaceutical company. The company is primarily focused on
the development of monoclonal antibodies targeting activation products of the
complement system for use in the treatment of life-threatening inflammatory
diseases. Key figures for 2024: P/E ratio = negative; EV/EBIDTA = negative;
sales growth 47%; dividend yield 0%. Highlight: Speculation on takeover / a
breakthrough in the field of sepsis. The company's cash position is currently higher
than its market capitalization.
20. Gatekeeper Systems - $GSI, ISIN:
CA36734X1042, is a Canada-based provider of intelligent video and data
solutions designed to provide a safer transportation environment for children,
passengers and public safety personnel in various modes of transportation. Key
figures for 2024: P/E = 12.2; EV/EBIDTA = 15.8; sales growth 35%; dividend
yield 0%. Highlight: Speculation on high growth in the security sector. Owner
holds approx. 10% of the shares.
21. Kraken Robotics - $PNG, ISIN: CA50077N1024, is a
Canada-based marine technology company that offers complex underwater sensors,
batteries and robotic systems.2024 key figures: P/E = 7.4; EV/EBIDTA = 6.7;
sales growth 1%; dividend yield 0%. Highlight: 69% sales growth in 2023. High
demand/growth in the fast-growing industry.
Share review in german: https://ppinvest-blog.blogspot.com/2023/12/wachstumswert-mit-gunstiger-bewertung.html
22. KSB SE - $KSB, ISIN: DE0006292006, is a
Germany-based supplier of pumps, valves and related systems for various
applications such as building services, process engineering, wastewater
treatment, water transport, energy conversion and solids transportation as well
as for the transportation of shut-off fluids. Key figures for 2024: P/E ratio =
6; EV/EBIDTA = 1.9; sales growth 10%; dividend yield 5.5%. Highlight: KSB operates
in the water megatrend. As a leading supplier in the pumps sector, earnings
should grow rapidly.
23. EnQuest - $ENQ, ISIN: GB00B635TG28, is an
independent manufacturing and development company based in the United Kingdom.
The company focuses on maturing and underdeveloped assets in the UK and
Malaysia that offer organic growth opportunities. Key figures for 2024: P/E =
1.1; EV/EBIDTA = 0.8; sales growth 3%; dividend yield 5.6%. Highlight: Very cheap
oil/gas stock from the UK. Owner holds approx. 10% of the shares.
24th Plan Optik - $P4O, ISIN: DE000A0HGQS8, is a
Germany-based manufacturer of structured wafers made of glass, glass-silicon
compounds or quartz. The company supplies various industries such as consumer
electronics, automotive, aerospace, chemicals and pharmaceuticals and offers
components for numerous applications in microelectromechanics (MEMS). Key
figures for 2024: P/E = 13.1; EV/EBIDTA = 6.1; sales growth -10%; dividend
yield 0%. Highlight: Plan Optics is a small, fine leading supplier of
structured wafers and numerous MEMS applications. Numerous development projects
have been launched, but these generally take 5 to 8 years to reach large-scale
production. 2024 will be a transition year before strong growth begins in 2025.
25. Okeanis Eco T. - $OET, ISIN: MHY641771016, is a
Greece-based international tanker company engaged in crude oil shipping. The
company operates and invests in tankers with the objective of owning,
chartering and operating tankers. Key figures for 2024: P/E = 5.5; EV/EBIDTA = 3.3;
sales growth 5%; dividend yield 18.3%. Highlight: Profiteer of the tensions
around the Suez Canal/Russia (freight rates + freight routes). Insiders own
approx. 58% of the shares.
During the year, we constantly check whether there are
any better shares on the market. The "tail light" 25th place is then
replaced by the new value.
Full article in german: https://ppinvest-blog.blogspot.com/2023/12/meine-top-25-aktien-fur-2024.html
No investment advice. DYODD!
Disclaimer / Exclusion of liability
All content is for information purposes only and does
not constitute investment advice or a solicitation to buy or sell securities or
other financial market instruments. Naturally, I make every effort to present
the facts to the best of my knowledge and belief, but they may nevertheless be
partially or wholly incorrect.
I therefore accept no liability whatsoever for any
investment decisions you make based on the information presented here.
Conflict of interest: At the time of publication, the
author of this publication holds shares/securities in the stocks/companies
discussed here and intends to sell them depending on the market situation and
could benefit in particular from increased trading liquidity. This represents a
concrete and clear conflict of interest.
