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19	member 7/03/24 7:26PM Hints of consolidation?
Reuters reported that DoorDash held talks with Deliveroo and was rebuffed on valuation. DoorDash considered buying Deliveroo in 2022, and then paid a high price for Wolt instead. https://www.reuters.com/business/retail-consumer/doordash-held-talks-with-uks-deliveroo-takeover-sources-say-2024-06-25/ Wolt didn't bring it much of an international... login to read the rest 2 view available tags
18	member 5/01/24 1:03PM Re: Re: it only counts if the stock goess up 17
As Samatha McLemore says, the biggest accomplishment in money management is survival. If you can't survive by being honest, you'll have to get creative. There's another subtle trick in there that was overshadowed by the elephant... login to read the rest 1 view available tags
17	member 5/01/24 11:35AM Re: it only counts if the stock goess up 16
Wow, that may qualify as the biggest returns footnote EVER. He's allowed to back it out since he learned a lesson from it and has adjusted his risk management to make sure that it never happens 8 view available tags
16	member 5/01/24 11:31AM it only counts if the stock goess up
12.8% CAGR since founding, vs 9.9% for MSCI World Total Return index. Hmm, okay, that's pretty good. Wait a minute, that is excluding a...35% position...that went down 85%? Come on, man. The last time I saw... login to read the rest 15 view available tags
15	member 3/06/24 10:52AM Einhorn phenomenon
I incorrectly posted this under Novana's (great) write up. Copying and pasting here. The stock is exhibiting what Einhorn talked about in his last podcast - a value stock pops around earnings and then goes down... login to read the rest 4 view available tags
14	member 9/20/23 4:49AM We may be near a resolution on NYC fee caps
See below. It doesn't mean they won the case in NYC but it does add pressure for the City to just settle and remove the fee caps. Very positive for TKWY because 1) it's some... login to read the rest 2 view available tags
13	member 9/19/23 9:46AM Re: Re: Re: Re: Re: They should be done with EUR150m buyback next week 12
I spoke to them yesterday and they confirmed this EUR 5 mn value. It was based on the public market values of EM food delivery companies and it was an insurance policy for TKWY in... login to read the rest -1 view available tags
12	member 9/12/23 5:06AM Re: Re: Re: Re: They should be done with EUR150m buyback next week 10
beethoven, there is no (material) deferred consideration for iFood, you can forget about the EUR300m. As per H1-23 press release "Current assets include the iFood contingent consideration, which is accounted for at fair value through profit... login to read the rest view available tags
11	member 9/07/23 10:32AM Re: Re: Re: Re: They should be done with EUR150m buyback next week 10
In updating my model for the current price of EUR 11.71 per share, Northern Europe is being valued at 3.8x EBITDA and 4.5x EBITDA - Capex, both after corporate allocation using the 6/30/23 balance sheet... login to read the rest view available tags
10	member 9/07/23 9:37AM Re: Re: Re: They should be done with EUR150m buyback next week 9
Thanks for pointing that out. I agree that they will continue with share buybacks, but I think there's the possibility for a pause for a couple of months. It's highly likely that they get another EUR... login to read the rest -1 view available tags
9	member 9/07/23 9:00AM Re: Re: They should be done with EUR150m buyback next week 8
They release weekly updates on their buybacks here: https://www.justeattakeaway.com/share-buyback-programmes They've been buying back over EUR10m a week in the last month. By next week they are very likely to be done, possibly even this week if they... login to read the rest 2 view available tags
8	member 9/07/23 8:04AM Re: They should be done with EUR150m buyback next week 7
How do you come up with next week? The press release said it's to be finished by December. view available tags
7	member 9/07/23 6:19AM They should be done with EUR150m buyback next week
Would be interesting to see if they announce a new one view available tags
6	member 8/11/23 8:32AM Re: Re: Re: Re: Re: Anyone short this name? 5
I am new to name but I thought that a counter to "recession is a disaster for them" is that restaurants have been booming with full employment and the essence of the pitch for restaurants... login to read the rest 2 view available tags
5	member 8/11/23 8:28AM Re: Re: Re: Re: Anyone short this name? 4
Going bankrupt would be hard at 1x net debt/ebitda which could soon be 0x if they get another €300mn from the sale of iFood. I see the cyclicality argument as a more modest concern for a few... login to read the rest view available tags
3	member 8/10/23 10:11PM Re: Re: Anyone short this name? 2
amr, I appreciate the deep work you did in this space and you laying out your findings here. After I come to a conclusion that something is an attractive long, I want to read a short report... login to read the rest 4 view available tags
1	member 8/10/23 12:15PM Anyone short this name?
The performance ratings were all over the place. One person gave it an 8, two gave it a 1 (would take the opposite position). I'm interested in hearing from those who would or are short... login to read the rest 2 view available tags

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			2023	2024
Price:	3.18	EPS	n/a	n/a
Shares Out. (in M):	214	P/E	n/a	n/a
Market Cap (in $M):	3,097	P/FCF	n/a	38
Net Debt (in $M):	277	EBIT	25	195
TEV (in $M):	3,374	TEV/EBIT	135	17

Description

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