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By and large, this structure has been eliminated, and MLPs are generally in better financial shape as a result, carrying less leverage and being able to grow their business through free cash flow. Between 2011 and 2016, MLPs traded at an average multiple of 13.7
The sector has gone through a transformation in the past decade, with midstream companies reducing leverage and being more disciplined when it comes to funding growth projects. multiple that midstream MLPs traded at between 2011 and 2016. All three stocks trade well below the MLP average multiple from that 2011-to-2016 period.
Lindens earlier structured capital fund closed in July 2011 with $355 million of capital commitments. Linden Capital Partners has held a final close of its second structured capital fund, Linden Structured Capital Fund II LP (SCF II), with $400 million in capital commitments.
Meanwhile, its balance sheet is in good shape with a leverage ratio (net debt/adjusted EBITDA ) of just 3.2 times multiple the sector traded at between 2011 to 2016. At the same time, the company has repaired its balance sheet to nicely lower its leverage, while carrying a high distribution-coverage ratio of over 2 times last quarter.
Since its founding in 2011, SoFi Technologies (NASDAQ: SOFI) has rapidly burst onto the scene to become a budding financial services provider. It focuses on leveraging the popularity of smartphones and the internet to provide a superior user experience in a market that's not known for that. But shares remain well off their record high.
Before the leadership team raised annual dues in September, Costco increased membership costs in 2017 and 2011. The result is that Costco is buying large quantities of a limited number of goods, resulting in incredible negotiating leverage with its base of suppliers. million households.
Abacus was co-founded in 2011 by CEO Tim Clifford and Mr. McKeever. His career also includes being a founding member of the leveraged finance group at Comerica Bank. The New York City-based firm provides cash-flow-based senior financing to private equity-sponsored, lower middle-market companies across a wide range of industries.
times EV/EBITDA average multiple between 2011 and 2016. The company had to cut its distribution in half in the fall of 2020 after it had gotten over its skis with its debt and needed to reduce its leverage. As a reference, the midstream industry as a whole traded at a 13.7
Founded in 2011 well after so many other brick-and-mortar rivals had set up shop -- Chewy is only an online retailer. It's distinctly different from companies like Petco Health and Wellness (NASDAQ: WOOF) and PetSmart, however. It seems crazy on the surface.
Agree Realty has a strong balance sheet, and its use of leverage is low, compared to its peers. Since its public debut in 2011, Stag has gone from owning just 93 properties to 573, establishing itself as a powerhouse in the U.S. In 2024, the company invested $524.9 industrial-property landscape.
Never even mind that outfits like Walmart , Target , and Kroger are leveraging their enormous reach in an effort to win some of this business for themselves. Chewy's been built from the ground up since launching in 2011 to be nothing but an online retailer. It could be tough for a relative newcomer like Chewy to penetrate this market.
Although sometimes at a painfully slow pace, Stag's raised its dividend payment every year since 2011. These are also highly leveraged purchases , so even the relatively small difference between AGNC's borrowing costs and its return on ownership of the mortgages it owns are effectively magnified. This year should be no exception.
Low historic industry valuations Between 2011 to 2016, midstream companies on average traded at an enterprise value (EV) -to- EBITDA (earnings before interest, taxes, depreciation, and amortization) multiple of over 13.5 Today, multiples throughout the industry are much lower.
It has a long history of strong performance, rising 14% last year, with an annual total return average of nearly 10% since its inception in the springtime of 2011. The ETF currently yields a hearty 5.4%, and that's not including the impact of share repurchases and leverage reduction. large caps.
Introduced in 2007, it launched Apple into the stratosphere, making it America's largest company by market cap by 2011. And it has leveraged its e-commerce site to build faster-growing advertising, subscription, and third-party seller businesses. Most of that astonishing return can be chalked up to the iPhone. billion, down 2.4%
Over the 10-year period from 2011 to 2021, Bitcoin was the single best-performing asset in the world. Find the one crypto that is best able to leverage the potential of AI, and you could find the next crypto with 1000-fold possibilities. At today's price of nearly $44,000, Bitcoin is up a head-spinning 43,187% since 2013.
It leads the market in home DNA testing and is starting to leverage its massive data library to produce pharmaceuticals. In mid-2011, I bought shares of a then-new electric vehicle (EV) start-up called Tesla (NASDAQ: TSLA). Fortunately, the first two were rather small positions.
The assumption was that the two similar companies could pool resources, apply leverage, cut costs, and find qualitative synergies. It's a company Buffett has held a stake in, however, going all the way back to 2011. None of that ever really happened to any meaningful degree, though. of Visa itself.
Whereas most of its competitors manage a brick-and-mortar presence, Chewy's been built from the ground up since its 2011 founding to be an online-only operation. The smaller, tightly focused company is leveraging both of these advantages, and reaping the benefits of doing so. This has made a world of difference, too.
However, IBM could still leverage its existing enterprise presence to offer more hybrid cloud services -- which process the data that flows between the private and public clouds -- to companies that aren't quite ready to migrate all of their data to the public cloud. But today IBM is worth $168 billion, and Microsoft is worth $3.04
NAV financing, which allows managers to layer more leverage on their funds late in their cycle on top of loans taken out by many managers when they first acquire a company, has grown in popularity in recent years as PE firms look to raise cash in a challenging exit environment. Source: Private Equity Wire Can’t stop reading?
These two stocks have produced monster growth for Buffett Back in 2011, Buffett bet a small amount of Berkshire's portfolio on two competing businesses: Visa (NYSE: V) and Mastercard (NYSE: MA). Since 2011, the combined basket of Visa and Mastercard has risen in value by about 2,000%. That's 20 times Berkshire's original investment.
Falcon, CrowdStrike's endpoint cybersecurity platform, leverages artificial intelligence (AI) and has grown from a single module in 2011 to 23 modules today. CrowdStrike (NASDAQ: CRWD) achieved generally accepted accounting principles (GAAP) profitability for the second sequential quarter and delivered record results.
Palantir's government business already serves most of the United States' government agencies, and its platform was reportedly used to hunt down Osama Bin Laden in 2011. Palantir continues to grow as it leverages its battle-hardened reputation to expand into the enterprise market. Is it too late to buy Palantir's stock?
Under the terms of the expanded deal, the social media company's foundational Snapchat will leverage Google's latest Gemini AI chatbot technology to enhance My AI's functionality. Snap and Alphabet have a relatively long history as partners; Snapchat was launched on Google Cloud in 2011.
“With the experienced leadership of BK, Andy, and Chris, we believe Impetus is well positioned to capitalize on opportunities in the highly fragmented VMS market, and we look forward to leveraging our combined expertise to support the long-term growth of Reliance and other strong businesses in the space moving forward.”
The company generates a lot of cash flow, and has historically taken a conservative posture with leverage , which is also why it has been able to consistently increase its distribution. Leverage currently stand at 3, which is low for the midstream industry. Enterprise currently has a robust forward yield of 7.2%
The company generates a lot of cash flow, and has historically taken a conservative posture with leverage , which is also why it has been able to consistently increase its distribution. Leverage currently stand at 3, which is low for the midstream industry. Enterprise currently has a robust forward yield of 7.2%
Gold first broke above $1,800 an ounce in 2011. It's a solid year-to-date gain, but a terrible performance relative to other asset prices since that previous high back in 2011. It has been a long time coming. It took until summer 2020 for it to pass the $2,000 mark before pulling back. Gold currently sits around $2,255.
NAV financing, which allows managers to layer more leverage on their funds late in their cycle on top of loans taken out by many managers when they first acquire a company, has grown in popularity in recent years as PE firms look to raise cash in a challenging exit environment.
It was also cut in 2011, but that cut actually helps set up the story for buying this real estate investment trust (REIT) today. In 2011, the landlord owned fewer than 100 properties, and the bankruptcy of a single tenant necessitated a dividend cut. But today, Agree owns a portfolio of more than 2,200 properties. Simply put, T.
As a miner, Cameco is basically leveraged to the price of the nuclear fuel. And don't forget what happened to the nuclear power industry after the Fukushima meltdown in Japan in 2011. But it is a leveraged bet on the price of uranium and a resurgence of the nuclear power industry. But there's a downside to consider here.
It ended the quarter with leverage of 3 times. It defines leverage as net debt adjusted for equity credit in junior subordinated notes (hybrids) divided by adjusted EBITDA. This leverage is considered low in the midstream space given the strong cash flow these companies generate. The stock now has a forward yield of about 7.2%
Meta overcame a tough slowdown over the past two years From 2011 to 2021, Meta's revenue grew at a compound annual growth rate (CAGR) of 41% as its earnings-per-share (EPS) rose at a CAGR of 40%. At the end of 2011, Meta served 845 million monthly active users (MAUs) on Facebook.
billion shares outstanding in the summer of 2011 to 3.9 Sirius XM's debt load is a lot higher than it was when its share count was peaking in 2011, and leverage isn't a good look in this period of higher borrowing costs. It generated $1.2 It has also been aggressively buying back its stock. Sirius XM has gone from a peak of 6.8
times average enterprise value (EV) -to- EBITDA multiple between 2011 and 2016, while today most midstream stocks trade at under a 10 times multiple. times leverage (net debt/adjusted EBITDA) and is on track to get it to 3 times by the end of the year. In fact, the sector generally traded at around a 13.7 Trading at just 7.4
Since 2011, CUBE has partnered with banks, insurers, asset managers and other highly regulated enterprises to deliver cloud-based regulatory technology solutions to automate legal, compliance and risk functions. The strategic partnership will see Hg invest alongside CUBE’s Founder and CEO, Ben Richmond. In a press release.
Meanwhile, the company ended the first quarter with 3 times leverage, which it defines as net debt adjusted for equity credit in junior subordinated notes (hybrids) divided by adjusted interest, taxes, depreciation, and amortization ( EBITDA ). This has come down from the over 4 times leverage it was at in 2017.
SoFi's financial picture Since SoFi's founding in 2011, the primary goal of the leadership team has been to expand the business. As SoFi starts to better leverage its product development and marketing expenses with higher revenue, it's believable that this target can be met. That's not surprising. in the first quarter.
Our combined teams are already working well together to leverage each other’s talents and brand portfolios to rapidly grow our combined European, North and Latin America businesses. Becoming part of the Sodalis Group provides a very exciting new chapter for us.
Buffett has held onto this stock since 2011. Its returns on equity are incredibly impressive considering the company employs a conservative amount of leverage. Many of his largest holdings have outperformed the market for years or even decades at a time. Free-cash-flow generation has nearly always been positive.
Ever on the lookout for undervalued stocks, Buffett invested in Bank of America after the financial crisis in 2011 when it was struggling. There have been many recent wins at BofA that illustrate its resilience and how it's leveraging the current macroeconomy to build its business and position itself for the long term.
Note: I led First Round's investment in Docracy in 2011, but I do not have any financial ties to the company and will not benefit or suffer, other than emotionally, based on the outcome of that investment. Now anyone could leverage the work of others, see how the code worked, and use what they needed freely.
Duncan Ball, chief executive officer of BBGI, noted BBGI has grown to become one of the UK's largest listed infrastructure funds, with a globally-diversified portfolio of 56 infrastructure assets that deliver long-term index-linked cash flows, and since its creation in 2011 has delivered a total net asset value return of 176.3%.
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