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20	member 6/24/22 2:05PM Re: Re: Re: FY22 Results 16
I think you nailed it on the head and the market is filtering out short-term owners. If you are investing in MOTR for PBT in the short term it will be awfully painful, no doubt.... login to read the rest 4 view available tags
19	member 6/24/22 8:45AM Re: Re: Re: FY22 Results 18
The most reasonable explination I received is they are opening 3 new locations and need to inventory ahead of sales for those locations. This would imply about a 30% increase of sales (based upon current... login to read the rest 1 view available tags
18	member 6/23/22 5:37PM Re: Re: FY22 Results 17
I'd be curious how others answer this but one logical explanation is that as they move from 0-3 to 0-4 year old vehicles they add some slightly slower turning, higher GM vehicles to the mix. I... login to read the rest view available tags
17	member 6/22/22 10:34PM Re: FY22 Results 13
What is the reason for the decline in inventory turns? They are still way ahead of Cazoo but KMX has turns higher than 2019 at this point. TIA. Keith view available tags
16	member 6/22/22 6:54PM Re: Re: FY22 Results 15
The street is now at £14m of PBT for FY23. This is a UK smallcap so the "street" is three guys (literally) who all get told what to put in their model by the CFO.... login to read the rest 3 view available tags
15	member 6/20/22 3:45PM Re: FY22 Results 13
Seems to me that they are doing well executing what they can control despite tough supply and macro. With the market shrinking for the period it is encouraging to see strong operating profit - however when you back... login to read the rest view available tags
12	member 5/06/22 11:17AM Re: Re: Re: Re: Re: Re: Re: Cazoo going BK? 11
It's my understanding that any excess cash currently is going towards investment in the new sites and ramping up growth opex. They certainly could buyback stock but I believe they are prioritizing growing the business for view available tags
11	member 5/05/22 11:58AM Re: Re: Re: Re: Re: Re: Cazoo going BK? 10
They don't have fcf to buy back stock here? Please elaborate. 1 view available tags
10	member 5/05/22 11:26AM Re: Re: Re: Re: Re: Cazoo going BK? 9
Thanks tps12 for getting this discussion going again. From the start it seemed to me that Cazoo’s valuation was being driven almost entirely by Caravana’s stock performance. Since 9/17/22, CVNA is down 85% and CZOO... login to read the rest -2 view available tags
9	member 5/05/22 9:20AM Re: Re: Re: Re: Cazoo going BK? 8
Strongly agree. Cazoo mgmt commented in the call on how H2 will be materially better than H1 from a retail GPU perspective. With sequential step ups each qtr. But having a very difficult time bridging to 900 view available tags
7	member 5/04/22 11:43AM Re: Re: Cazoo going BK? 6
Jumped the gun with my comment after reading their press release... But I shouldn't have been hyperbolic. Was just pretty surprised by the results. Wish they would give us a sense for cash burn run-rate. view available tags
6	member 5/03/22 3:46PM Re: Cazoo going BK? 5
What makes you say that? Didn't they raise $600m or so just a few months back? view available tags
5	member 5/03/22 11:41AM Cazoo going BK?
Anyone have thoughts? view available tags
4	member 7/22/21 1:25AM Re: Competitive Threats / Items missed 1
tps12, Thanks for your comment. First off, I guess I'm not sure exactly how posting on VIC works, should I delete this post or try to have it removed from Twitter? My apologies if I broke... login to read the rest -1 view available tags
2	member 7/21/21 2:52PM Re: Competitive Threats / Items missed 1
Lots of good food for thought here, would you mind expanding on what you meant by this. You didn't mention Auto Trader in your write-up at all. That was surprising as it is the most important... login to read the rest view available tags

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			2021	2022
Price:	27.10	EPS	6.15	7.17
Shares Out. (in M):	220	P/E	4.5	3.6
Market Cap (in $M):	714	P/FCF	8.8	5.1
Net Debt (in $M):	189	EBIT	1,742	1,960
TEV (in $M):	832	TEV/EBIT	4.0	3.3

Description

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Sign up for free guest access to view investment ideas with a 45-day delay and read the full report. Log in to read the full report.

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