Enx Group (JSE: ENX) share price, discussion & sentiment

Been through the latest SENS filings, balance sheet's getting squeezed ngl

Good Morning Everyone. ENX closed at R2.06, market cap sitting around 600m rand if I've got the share count right. Equipment leasing in SA is tough when corporates are pulling capex, but the long game here is asset-light recurring revenue once the balance sheet cleans up. Worth watching the next earnings for lease utilization rates.

Equipment rental outfits usually print money in a cycle like this, but ENX hasn't exactly been the money printer. At R2.06 you're paying peanuts for the asset base, which means either the market knows something about the returns or it's actually cheap. Hard to tell without seeing if management can actually sweat those assets properly.

ENX sitting at R2.06 is painful but lease companies are getting crushed on rate hikes and weak capex spend. Long-term view hasn't changed, balance sheet is solid, but yeah the macro is just not helping anything in industrials right now. Inflation very high, banks won't budge on rates, so rental demand stays soft. I'll keep holding as long as it takes but ngl this is a slog.

Took the opportunity to add to my ENX position on this 6% pullback since the logistics narrative remains intact and the dividend yield is starting to look attractive at these levels.

ENX sitting at R2.49 is pretty rough ngl, equipment leasing should be steady money but feels like everyone's holding back on capex right now. Company's got the right business model for recovery when things pick up again, just gotta survive the next couple quarters without the rand going fully sideways on them.

Equipment leasing plays like this one get hammered when credit tightens and capex budgets dry up, but ENX has the balance sheet to weather it unlike some of the smaller players. At R2.49 the market's pricing in recession, not structural decline, which is why I reckon this is positioned perfectly for the eventual recovery. Competitor comparison would be Reunert but they've got more diversification, so ENX carries more cycle risk, fair point.

rental gear getting hammered, balance sheet looks thin

ENX sitting at R2.49 but gear rental and leasing plays usually need volume to move, SA's construction cycle is dead right now so hard to see catalyst. Balance sheet's not terrible but equipment-heavy businesses bleed cash when utilisation drops, compare that to the likes of Reunert who at least have diversified revenue streams.

been through the latest statements and enx is basically treading water on revenue but the rental asset base is still growing which suggests management believes in the underlying demand. leverage is creeping up though, so if load-shedding or construction pulls back harder they could be in trouble. equipment leasing plays usually need some economic tailwind to work and we're not seeing that yet in sa.

enx balance sheet looking thin tbh. leasing book is ok but capex heavy and rand headwinds killing margins. at R4.59 you're paying for what exactly, the hope load-shedding eases?

Equipment leasing outfits like ENX tend to get smashed when the economy stutters, but the fundamentals on dividends and asset base are still there if you look past the noise. Similar play to Wesco or even some of the logistics crowd when times are tight, they just hunker down and collect cash from existing contracts. Not touching it till we see some breathing room in capex demand but long-term view hasn't changed.

Good morning everyone. ENX at R4.59 is sitting well below book value when you look at the leasing book and service contracts they carry. The equipment rental side should hold up okay in a downturn but the real question is whether they can keep debt manageable while rand weakness bites into imported gear costs. Worth reading their latest SENS on working capital.

ENX jumping 10% today is interesting, but I'd want to see what's driving it before getting too excited - could just be short covering or a positive broker note.

Equipment leasing story is tired without volume. Need to see what the actual contract pipeline looks like, not just annual reports. Company's sitting at R4.00 and hasn't moved because nobody believes in the growth, simple as that. Let's get a contract with a big customer and then it will run.

Equipment lease guys sitting at R4.00, do you think the rand weakness actually helps them or does it just eat into margins. Not sure about this one ngl.

Been through the latest MD&A, leasing book still solid but cash position tight

enx sitting at r4.00 and the lease book is still solid, but management needs to prove they can grow the top line without just milking what's already there. looks like competitors in the space are actually deploying capital smarter, and that's the gap i'm watching. long term the industrial services story still works in sa, but this one's got to show more teeth on execution before i get properly excited.

ENX getting hammered 3.37% today but the pullback looks overdone given their consistent dividend yield around 7% and steady industrial demand backdrop. Management's capital allocation hasn't changed, so I reckon this is noise for buyers with a longer timeframe.

Good morning everyone. ENX sitting at R4.59 after that weak run, but the equipment leasing side still has legs if they can tighten working capital. Industrial services outfits like this tend to track capex cycles pretty closely, so load-shedding headwinds might ease if we see any actual infrastructure spend pick up. Worth reading the latest SENS on receivables management, that's where the story lives for me.