Heavy Moat Investments

Heavy Moat Investments

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February 2025 Portfolio Update plus new valuation matrix
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Portfolio Ranking Exercise
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2
Simplifying the portfolio (1 Buy, 1 Sell and more to come!)
 • Heavy Moat Investments
2
Introducing the Quality Score: Mercado Libre Breakdown (Free Example, Premium Valuation)
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November 2024 Portfolio Update
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18
Adyen ($ADYEY): Innovating and Dominating Global Payment Services
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Level up your investment journey now!

Deep Dive - Business Model

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Mettler Toledo: A Quiet Giant in Precision Instruments
Analyzing Mettler Toledo: Quality, Moat and Management
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Eurofins Scientific: A global leader in a secular growth industry at a discount
23% 27 year CAGR, despite its current 50% drawdown
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Heavy Moat Investments
Eckert & Ziegler: A Pick-and-Shovel Play on Radiopharmaceuticals
Why Eckert & Ziegler could be one of the most overlooked compounders in Europe
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Heavy Moat Investments
IDEXX Laboratories: The Hidden Giant Powering Pet Healthcare
The business behind your vet bill: Why IDEXX is a global leader in pet diagnostics
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Heavy Moat Investments
Sonova AG: A Durable Growth Play on Demographics and Healthcare Trends
The high-quality market leader in the global hearing care industry
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Heavy Moat Investments
Watsco: Winning by digitizing an old industry
Watsco started in 1947 as Wagner Tool & Supply Corp.
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Carlisle (CSL): Shrinking to grow
Rational capital allocation to create shareholder value
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Edenred: How does it compare to Pluxee?
Is bigger better?
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Heavy Moat Investments
2
Nemetschek: Digitalizing a boring industry
A highly profitable german family business
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Free Sample - Ashtead: Consolidating the US equipment rental industry
Why own it if you can rent it?
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Heavy Moat Investments
Adyen ($ADYEY): Innovating and Dominating Global Payment Services
Rapid founder-led growth at a fair price
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Heavy Moat Investments
Verra mobility (VRRM): Mission critical technology provider in the mobility industry
Verra Mobility has gone through many hands over the last 20 years.
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Heavy Moat Investments
Heavy Moat Investments
Straightforward Quality Investing – Actionable & Insightful Analysis. Written by Niklas, a young and self-taught investor.
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Links
20% off Koyfin
My main analysis tool
Finchat 15% discount affiliate link
A very useful tool to visualize unique KPIs for thousands of businesses
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Easy portfolio tracking with a fantastic team and fast support
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Stripe Carbon Removal Contribution
Resources
Inverse DCF Template
IRR Model Template
Inverse DCF explained
Owner Earnings explained
Net Working Capital explained
This is not financial advise!
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Quick Pitches

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Veeva Systems quality score: Can the healthcare winner expand its business?
Assessing Veeva's durability, capital allocation and future growth potential.
When Every Byte Counts (15% IRR potential SaaS business)
A fast-growing mission-critical SaaS business with high retention and upsell
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Why I believe this UK consolidator can deliver 17%+ annual returns over the next 5 years on a low risk profile
Consistent grower consolidating an industry with operating leverage
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Improving Fundamentals, Falling Valuation: Bright Future (16,9% forward IRR, Dutch small cap quick pitch)
Going upmarket, growing recurring revenue streams and strong cash generation at 13x EBIT
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Heavy Moat Investments
Why I believe this European SaaS company can deliver 17%+ annual returns from here.
Scaling organically with high margins, delivering 20%+ ROIC and trading at an attractive valuation. Plus special 20% discount inside for the next 3…
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Heavy Moat Investments
MSCI Quality Review: Is This Owner-Operator Worth Buying Now?
Breaking down MSCI’s moat, margins and management through my 13-point quality framework.
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Heavy Moat Investments
There Are No Points For Creativity! The Power of Shameless Cloning
How I Use Shameless Cloning to Find Great Investments—And an Idea I'm Researching Now
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Profits Up, Stock Flat: A Classic Setup for Outsized Returns (16.9% forward IRR, German small cap quick pitch)
The market has lost interest, but the fundamentals keep improving—here’s why that’s a great setup.
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Heavy Moat Investments
Introducing the Quality Score: Mercado Libre Breakdown (Free Example, Premium Valuation)
A new framework to assess quality businesses based on your feedback—free preview with Mercado Libre, full valuation reserved for premium subscribers.
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Heavy Moat Investments
Top posts
February 2025 Portfolio Update plus new valuation matrix
 • Heavy Moat Investments
Portfolio Ranking Exercise
 • Heavy Moat Investments
2
Simplifying the portfolio (1 Buy, 1 Sell and more to come!)
 • Heavy Moat Investments
2
Introducing the Quality Score: Mercado Libre Breakdown (Free Example, Premium Valuation)
 • Heavy Moat Investments
November 2024 Portfolio Update
 • Heavy Moat Investments
18

Earnings report

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I attended my first AGM! Hermle AG experience report
An experience report of attending an AGM and comments on the future of Hermle + valuation
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Heavy Moat Investments
1
Hermle AG’s Brutal Guidance: Is There Still a Long-Term Investment Case?
Is Hermle still a high-quality compounder or is this a value trap in the making?
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Heavy Moat Investments
FRoSTA AG: Germany’s Underrated Consumer Staples Champion–A Fresh Update
This German Frozen Food Small-Cap Is Up 25% YTD After Strong FY24 Results—What’s Next?
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Heavy Moat Investments
Napco Crashes 25% after earnings: Is the investment case still intact?
What am I doing with my Napco shares?
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Heavy Moat Investments
4
A tale of two cyclicals: Texas Instruments and ASML earnings
Both companies reported earnings these last few days with widely different results. Let's talk about them and see if any is a compelling buy right now…
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Heavy Moat Investments
Is Hershey a sweet buy now?
Popular dividend growth stock, down >40% from highs
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Heavy Moat Investments
Ashtead H1 trading update + valuation
Today, I want to discuss a very heavy company: Ashtead.
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Heavy Moat Investments
3
Atkore is looking very ugly
What went wrong and what can we learn from it?
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Heavy Moat Investments
1
Level up your investment journey now!
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