DW Partnership

Private Investment Partnership

[DW Partnership @DWPartnership]

First Substack is out: a deep value investor’s dream business.

More ideas soon.

https://t.co/w7zHZwuABk

[DW Partnership @DWPartnership]

@shareGBP Hope they load up on the buybacks at these levels, never understand why management is so slow to pull the trigger.

[DW Partnership @DWPartnership]

New Post

Vending Machine Business trading at 5x EV/EBIT with 8% Dividend Yield

https://t.co/UTAWi7iUuH

[DW Partnership @DWPartnership]

- Chairman/CEO tried to take the company private in 2022 at 75p (Still owns 36.5%).
-Company put itself up for sale in 2025 but received no attractive offer with the share price trading at 220p at the time.
- Share price today is now 100p.

[DW Partnership @DWPartnership]

Me Group International PLC #MEGP $MEGP.L

- Down 54% over last year (core biz shrinking, second biz growing double digits, delayed accounts due to new audit partner)
- FY26 (Oct) EV/EBIT 5x
- Div Yield 8%
- ROIC 30%

Even with no growth this is absurdly cheap.

[Dividendology @dividendology]

Berkshire Hathaway now has a cash pile of nearly $400 billion.

That's enough to buy any one of these companies outright:

$NFLX - Netflix
$MRK - Merck
$CVX - Chevron
$ABBV - AbbVie
$UNH - UnitedHealth Group
$BAC - Bank of America
$KO - Coca-Cola
$PLTR - Palantir

[DW Partnership @DWPartnership]

Positive #GETB $GETB.L Trading Update
- SmartVault 19% ARR Growth ✅
- AI being a tailwind not a headwind✅
- Workiro returned to growth✅
- No mention of profitability❌
- No mention of sale of SmartVault (Although would've been suprised if mentioned in a trading update)

[DW Partnership @DWPartnership]

New Write Up

25 Year Old Advertisement Middleman with a 24% FCF Yield (Priced for Death)
https://t.co/g3zsqpPj41

[DW Partnership @DWPartnership]

SpaceandPeople PLC #SAL $SAL.L
- Enterprise Value: £1.8m
- Debt free with 50% of Mcap in cash
- FY26F Operating Profit: £0.75m
- FY26F EV/EBIT: 2.4x

I believe in person advertising/experience will become more important in a AI driven new world.

[DW Partnership @DWPartnership]

@mr_deepvalue Looks interesting. Going into an investment phase it seems, historical ROIC doesn't look great, so unless something has changed, more investment will likely yield a substandard return.

[DW Partnership @DWPartnership]

Positive $DOM.L #DOM trading update. Strong system sales growth which surprised me. Total orders returning to growth is really important as most revenue comes from selling ingredients to franchisees, so more orders = more ingredients needed. I like the continued focus on core.

[DW Partnership @DWPartnership]

Large share repurchases were made from FY21-23 at average price of 349p (91% premium to current) at much higher P/E ratios, this is an example of poor share repurchases which destroyed value. Due to such depressed P/E ratios currently that same mistake cant happen at these prices

[DW Partnership @DWPartnership]

Doing some digging into #DOM $DOM.L. 110% of OCF has been returned to shareholders over the last 6 years. 5% reinvested. Should this simply be valued at a cash return yield? Assuming a £104m OCF and all of that returned that's a 10.3% cash yield, with maybe some growth potential?

[Dalius - Special Sits @InvestSpecial]

Some of the best deep value / special sits blogs I've started following over the last 12 months, a mix of private investors and funds, all worth bookmarking 👇

1) @everyonehatesp1: Small & micro-cap ideas with inflection and catalyst-rich trades

2) @MaiusPartners: Deep dives on global value stocks

3) Tactile Find: Alluvial Capital's new fund, LT investing in firms with extraordinary physical assets

4) @DismAssetBkd: Small cap net-net / deep value.

5) @SnowsofNebraska: Special sits focused with a great blog

6) @DWPartnership: Value / special sits leaning fund blog

7) @e_pap4: Microcap investor going through the most obscure deep value bets

8) @JustValue48: Special sits focused in the small/midcap space

9) @RodAlzmann: Special sits focused private investor

10) Illiquid Edge: Obscure, illiquid microcap stocks

Anyone I'm missing? Drop names below 👇

[DW Partnership @DWPartnership]

New write up is out: Capital Light Franchisor trading at 5x EV/EBIT with 8% Dividend Yield

#DSW $DSW.L

https://t.co/CeNwaajgkR

[DW Partnership @DWPartnership]

New Write Up: SaaSpocalypse survivor? 1.7x EV/ARR with incentive to return £150m to shareholders (Market Cap £35m)

#GETB $GETB.L

https://t.co/nLSJGfZfL2

[DW Partnership @DWPartnership]

@directordealing I have a written a bit more background on this if you'd like to take a look https://t.co/WU3SVbQAdq

[DW Partnership @DWPartnership]

@cermrew Agreed the insider buying is encouraging, especially with how open they are about selling SmartVault, shows they must see a serious potential of getting a deal done. I have also written a bit more here: https://t.co/WU3SVbQAdq

[DW Partnership @DWPartnership]

@Compoundandfire Nice to see Smartvault reaching profitability too. Worried slighly about Workiro but hopefully can return it to growth. I have written a bit more here if want to check it out and discuss. https://t.co/WU3SVbQAdq

[DW Partnership @DWPartnership]

New Write Up: SaaSpocalypse survivor? 1.7x EV/ARR with incentive to return £150m to shareholders (Market Cap £35m)

#GETB $GETB.L

https://t.co/nLSJGfZfL2

[Computer @AskPerplexity]

After 60 years, Warren Buffett stepped down as CEO of Berkshire Hathway.

Greg Abel just published his first shareholder letter.

To honor the Oracle of Omaha's legacy, we asked Computer to build something to make sure Buffett's wisdom lives on.

Introducing the Buffett Archive.