ALIBABA GROUP HLDG BABA
October 22, 2022 - 7:01pm EST by
member
| 2022 | 2023 | ||||||
| Price: | 72.00 | EPS | NM | NM | |||
| Shares Out. (in M): | 2,650 | P/E | 9 | 8 | |||
| Market Cap (in $M): | 190,000 | P/FCF | 9 | 7 | |||
| Net Debt (in $M): | 80,000 | EBIT | 15,000 | 18,000 | |||
| TEV (in $M): | 110,000 | TEV/EBIT | 7.3 | 6 | |||
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| # | AUTHOR DATE SUBJECT |
|---|---|
| 110 | |
Meituan is owned 12% by mainland investors. BABA should see incremental net new buyers from Mainland China to add $24bn in the medium term.
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| 109 | |
Most the large Chinese tech companies massage sell side numbers heavily right after quarter. So probably not much surprise on Q2 on the print. | |
| 108 | |
Any views from those following closely on how Alibaba's upcoming earnings print on Aug 8 might look? Seems like they've continued to be aggressive on the buybacks and are raising some merchant fees. The recent... login to read the rest | |
| 107 | |
Watch the 30-minute conversation between Joe and Kam Shing here.
Joe outlined why Alibaba is “all in” on AI and how it will drive growth in Alibaba’s core businesses. He also shared that Alibaba has a “growth mindset” and is applying our... login to read the rest | |
| 106 | |
I think BABA has approx 40% of its cash offshore.
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| 104 | |
Precisely, it is practically free money, as I said, I wish they did a larger transaction $8-10bn.
The absolute worst case is the stock is lower 7 years from now, they burn their "net cash" and... login to read the rest | |
| 103 | |
This deal is prudent and makes a ton of sense by Alibaba, my only regret is that they didn't even do a larger CB, say $8bn.
They didn't because appetite by CB buyers is not unlimited, nonethless... login to read the rest | |
| 102 | |
Onshore/offshore aside, am I wrong in thinking this is just free money? USD offering with interest rate of 0.5%/yr. They can take the proceeds and buy at today's stock price, and then in 7 years... login to read the rest | |
| 101 | |
yxd0950, my understanding is After the primary listing is complete, they still need to be approved to be part of the Stock Connect. These are two different steps. The August timing does not immediately qualify... login to read the rest | |
| 98 | |
After the primary listing happens in August, can Baba use its onshore cash for stock repurchase via the connect? | |
| 97 | |
There is a cost to repatriate as Nails has outlined very well including other great points Nails made.
Baba judged that the optimal route is doing this deal. Not just them, but JD and they upsized... login to read the rest | |
| 95 | |
Precisely, thank you Nails4 | |
| 94 | |
Thanks LDMR. Question: Where is that $50bn of WC surplus? Is it in the US where ADRs will be purchased ?
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| 91 | |
It casts no doubt on the cash generation story, the company did repurchase $10bn and $12.5bn the last 2 years, and paying a $4bn dividend. They are going to continue to retire at the minimum... login to read the rest | |
| 90 | |
It makes perfect sense to me - please read the prior comments.
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| 89 | |
this makes no sense. Why do they need to raise converts for share repurchase when they have tons of cash and doing over $20bn in FCF? | |
| 88 | |
BABA response to me:
The reason we are doing the CB now is that it is the right window with very attractive cost of financing. We always strive to improve capital efficiency. Many of our global... login to read the rest | |
| 87 | |
Maybe you are right and the tax is the rationale. If it is mgmt is more than just a little silly. Questioning whether the cash is real is more than a fringe opinion and this... login to read the rest | |
| 86 | |
Joe Tsai and Eddie Wu shareholders letter that just came out on capital allocation, 5.1% net reduction in shares. They will keep at it.
https://www.alizila.com/aliviews-alibaba-joe-tsai-eddie-wu-2024-letter-shareholders/
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| 85 | |
The cash is accessible, but there is a price or tax for conversion.
Alibaba is doing this to have more buffer for offshore share repurchases, which I am neutral to.
Over last 10 years, Apple has raised... login to read the rest | |
| 84 | |
At best bad capital allocation. At worst makes you wonder how accessible the cash on balance sheet really is. | |
| 83 | |
Any thoughts on the convertible? Other than part share repurchases to be used ahead of primary listing and to fund international growth ? | |
| 82 | |
There has been a steady improvement in cash returns, but BABA i think is the most aggressive, 5% net reduction in shares is massive. I believe they will continue to retire 5% of the shares... login to read the rest | |
| 80 | |
Tencent, BABA, JD are all aggressively buying back shares. There is this myth that none of them return cash, it is not true. BABA reduced its share count by 5% last year. That is significant... login to read the rest | |
| 79 | |
It's very refreshing to see that finally many Chinese companies listed in the U.S. are now buying back their shares.
But how are these companies now able to do so ? I thought their cash held | |
| 78 | |
Interesting, thank you gocanucks.
I had written a open letter to BABA on capital returns and pleased they acted on the special dividend this quarter.
The company is taking all the right steps, capital returns, double digit... login to read the rest | |
| 76 | |
Gocanucks, this 13f is interesting. Is this Yongping Duan? $11bn position in Apple - what was the cost on that position ? The portfolio seems to be loaded with Berkshire names, Apple, Oxy, BAC, BRK etc.
The | |
| 72 | |
If its really so competitive, and its as bad, why does Alibaba generate $26 billion in operating cash flow, more than Visa, Mastercard, Oracle, Coke, Costco?
Alibaba is now China's biggest AI investor and AI related revenue... login to read the rest | |
| 70 | |
Multi standard deviation move today. Not sure what is driving it beyond macro, HSI breakout. Anyone have any thoughts to share? | |
| 69 | |
What do you mean "Baba to begin a dividend next month as well"? I thought they paid the dividend annually. | |