2Yr·

My last stock presentation for January and this one has it all. It covers what I consider to be an insanely fascinating area, namely outer space. You always hear a lot about Musk's Space X, Jeff Bezos' Blue Origin or companies like Boeing and Lockheed Martin. These projects or companies are certainly flagships. But you don't have to look that far to invest in the future market of "space":

OHB SE

DE0005936124

OHB SE is a technology and space company operating throughout Europe. OHB serves international customers with solutions and systems. Its portfolio includes solutions for the entire value chain of satellite development, construction and operation, data transmission and processing as well as the development and construction of scientific payloads and aerospace structures. The company is also working on projects for equipping and operating the International Space Station (ISS) and on concepts for exploring the solar system.

Key figures:

P/E RATIO 21: 23.1

P/E ratio 22e: 17.3

Net debt 2022e: 5.5 million

Net income 2022e: 37,5 Mio

Net margin: 2.37

Gross margin: 41

Dividend yield 2021: 1.29%.

Biggest competitors:

-Lockheed Martin

-Boeing

-Thales

OHB is very well positioned fundamentally. They are hardly indebted. Both the medium-term (5Y) and long-term (10Y) sales and EBIT growth is intact. However, the competition is strong and the valuation is not cheap but rather moderate. Asset-intensive companies usually have a somewhat lower P/E/E ratio. Nevertheless, OHB promises good growth, which makes the valuation, compared to the peer group, still somewhat plausible. Nevertheless, I find it exciting to have such an emerging, comparatively small, company in Germany. Demand in this area will certainly increase in the future. I have them on the WL, but am not yet invested.

What do you guys think of OHB? Do you already have them on the WL?

No investment advice!

14 Comments

Lorena@Lorena

2Yr

Hadn't thought of investing in the space industry specifically until now. I have a naïve fascination with it, but it's less about physics and more about the aesthetic and philosophical components :D Do you have any idea if and how OHB is ahead of its competitors?

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Jonas 🕊️@TheAccountant89

2Yr

@Lorena that's hard to say. OHB is somewhat smaller and promises more growth. They are also involved in large projects. But I can't give you a corresponding competitive advantage, unfortunately. I'd probably have to dig deeper into that.

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Lorena@Lorena

2Yr

@TheAccountant89 thank you 😊 yes only if it would have been something obvious, but fits 🚀

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Doomer@Doomer

2Yr

@Lorena rein da 🚀🚀🚀

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P.M@WhiteRabbit

2Yr

Thank you for your ideas! I think that's great. Very interesting area and has certainly potential. But I also had to think of this video: https://m.youtube.com/watch?v=SfbFbIL1oAA 😄 That will be quite interesting in a few years.

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MaK@DollarDon

2Yr

Not yet an investment for me, as I cannot yet assess the success factors in this industry🤔 What do you think would have to happen for demand and margins to increase?

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Jonas 🕊️@TheAccountant89

2Yr

@DollarDon agree with you. I also find it difficult to estimate growth in the industry. At OHB, it also depends on the order situation. Margin improvement is probably only possible through new orders/increased demand. The potential for this is already there in the market. But I can't really estimate it in figures either. There are probably fewer economies of scale here. In principle, however, net margins are inherently lower for such capital-intensive companies.

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DiFigiANo@DiFigiANo

2Yr

@ccf

Finally again a post where at the end is asked for the opinion ❤️ and not only after it 😂

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Jonas 🕊️@TheAccountant89

2Yr

@DiFigiANo thank you! 😊🚀

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Yannik@BottomTopInvest

2Yr

I had a quick look at the industry and put Astrocast on my watchlist. But I can't make any firm statement about it. No investment advice or investment recommendation

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SvenTheMan@Der_Leeh

2Yr

Sounds very interesting indeed. I've added it to my watchlist. However, I think that other companies, such as Lockheed Martin, Boeing or even Tesla will ultimately have the lead. But it's more of a feeling without having delved deeper into it. 🙂🚀

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Benny@BennyB

2Yr

What would have to happen for you to invest?

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Jonas 🕊️@TheAccountant89

2Yr

@BennyB difficult question. For me personally, there are simply other stocks in front. At the moment, I would rather buy more and not expand my portfolio any further. In principle, there is nothing to be said against an investment. The industry promises a lot of growth, of course, but just as much risk. No investment advice.

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Doomer@Doomer

2Yr

Is being saved since this month 🚀

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