Another set of company write-ups from Substack authors, all from within the last week. Thought this would be useful for this community.

Not my work - sourced from Giles Capital's weekly compilation:
https://gilescapital.substack.com/

Americas

Elliot's Musings on Micron Technology (🇺🇸 MU US - US$1.3tn) Latest quarter beat estimates as AI memory chip demand accelerated. Management guided next quarter higher on high-bandwidth memory share gains.

Hidden Market Gems on Reddit (🇺🇸 RDDT US - US$29bn) Revenue up 69% as AI data licensing added a new stream alongside advertising. The CEO has been selling shares into the rally.

Rijnberk InvestInsights on Veeva Systems (🇺🇸 VEEV US - US$27bn) Near-monopoly in life sciences software, 75% gross margins, $6.5B net cash. At 32x earnings you are paying for a durable franchise, not cheap assets.

The Value Nerds on Celsius Holdings (🇺🇸 CELH US - US$8bn) Controls 21% of the US energy drink market. The Alani Nu acquisition diluted shareholders by 9.8% and the margin for error at current prices is thin.

Emerging Value on Inter & Co (🇧🇷 INTR US - US$2.5bn) Brazil's fastest-growing digital bank, 44 million clients, net income up 38% last quarter at a 15.5% return on equity. Trades at 8.6x earnings.

Kairos Research on Aimia (🇨🇦 AIM TSX - CAD$252m) Agreed to sell its chemical business for C$265-271M, roughly matching the entire market cap. Remaining assets trade at a discount to book, management buying.

D Invests on Zoetis (🇺🇸 ZTS US - US$51bn) Decade-low multiples after US companion animal business fell 11% last quarter. At 10x operating profit, the diagnostics franchise is not getting credit.

P14 Capital on Belden (🇺🇸 BDC US - US$4.5bn) Industrial networking at 12.6x operating profit versus a 21x peer average. Automation, broadband, and smart buildings all inflecting simultaneously, with short interest elevated.

Europe, Middle East & Africa

The Dutch Investors on Evolution AB (🇸🇪 EVO SS - SEK 129bn) 65% profit margins, net cash. Trading at 7x operating profit as the market treats Asia regulatory headwinds as permanent damage rather than a passing cycle.

Price to Tangible Bruce on Grainger (🇬🇧 GRI LN - £1.3bn) UK's largest listed residential landlord at 0.55x tangible book on a build-to-rent pivot. Mike Ashley has quietly built a 3% stake.

Catalyst Investing on Fiverr (🇮🇱 FVRR US - US$380m) Two times last year's FCF with $180m net cash on a $380m market cap. Active buyers down 40% from peak and the CEO keeps selling into it.

Dirt Cheap Europe on Churchill China (🇬🇧 CHH LN - £37m) TOP PICK 231-year-old hospitality ceramics maker, net cash, directors buying, share price down 80% from peak. Trading at 3x EV/EBITDA on temporary margin compression, not structural failure.

Price to Tangible Bruce on Nexteq (🇬🇧 NXQ LN - £30m) TOP PICK Cash covers more than half the share price. Gaming hardware at 4-5x EV/EBIT through a destocking cycle, backed by 20 years of compliance certifications.

Businesses Not Stocks on Shoe Zone (🇬🇧 SHOE LN - £23m) The Smith family controls 64% and bought 2.76 million more shares at 50p in May, the same month the dividend was scrapped. Contrarian conviction, distressed fundamentals.

Asia-Pacific

Memyselfandi007 on Tokio Marine (🇯🇵 8766 JP - US$85bn) Japan's largest insurer at 14x earnings with a 3.1% dividend and active buybacks. Earns 60%+ of profits from US specialty coverage. Berkshire recently added to its position.

Jam Invest on Central China Management (🇨🇳 9982 HK - HK$400m) Holds HK$2.58B in cash against a HK$400M market cap. Property services subsidiary of a distressed parent group where the cash has not moved to shareholders.