RE: ****ney rebel (richard crow)...12 Jan 2025 09:00
Yes indeed. I read into how SpaceX operates it's supply chain. It's quite rare for them to take equity/warrants and they openly state they only do so for critical supplies to ensure continuity and to have some degree of influence over the suppliers product innovation. Filtronic is truly one of a kind for a London listed minnow. Last summer I spend weeks ananlsing the potentially most explosive profitable UK listed companies and FTC came out on top. There are risks of course - for example, if SpaceX switched to another supplier, you would see a massive sell off! and of course FTC has struggled in the past with production capacity, its own supply chain and finding quality UK based engineers. However, the new facility and UK offices SHOULD mean that production problems have materially eased. With BAE, Qinetiq, Space X and the European Space Agency as major clients, and coupled with Amazon's recent announcement of launching into low earth orbit satellites (in partnership with SpaceX), and the fact that defence spending is only going up, the tail winds are unbelievable for FTC. How do you value FTC when it's experiencing such rapid growth resulting from BIG macro changes?! I'm beginning to think that pe (FY25 - 23.1) could be a red herring... ie assuming that a fair p/e is 30 COULD be far too conservative. BUT I really don't know how to value a company like FTC. I'm also incredibly biased, owning the shares and sitting on a nice profit... Trying very hard not fall in love with this share and ensure as much objectivity. In that vein, please can other shareholders list their key downside risks for FTC?
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