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TSE:RBA
This one has gone sideways for about the past 5 years. Although there are no barriers to entrance into their business, they are the largest auctioneer of industrial equipment globally. Thinks they are larger than the next 50 competitors combined. There is about $200 billion of used equipment that transacts every year but they only have about a 2% market share. This gives them a tremendous run way for growth. Just finished a CapX program to build a lot more permanent auction sites so they can now focus on filling those sites and he can see double digit earnings, cash flow and dividend growth. Yield of 2.47%.
They sell multimillion dollar items. It is a bit expensive on a PE basis. A clean balance sheet and small debt to equity ratio. They cover their interest by about 25 times. They have had significant earnings announcement surprises to the upside.