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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.
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 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?
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.
Read the MD&A properly and ENX's asset base actually held up better than the street thinks during load-shedding season. Equipment leasing plays usually get hammered when capex freezes but their utilization rates tell a different story if you dig past the headlines.
ENX sitting at R4.59 with plenty of room to run if the lease book keeps turning over. Industrial services are starved for capital right now, so their equipment rental model has legs. Risk/Reward is very compelling at these levels, patience looks like a real good idea.
look at the balance sheet, theyre carrying decent cash and theyve been clearing debt quietly. equipment leasing plays like this take time to scale but the fundamentals arent broken like the bears want to pretend. R4.59 is a gift for anyone actually doing homework on where this could be in 3 years, not trading it like a penny stock
ENX popping 3.5% today and trading above the R4 level for the first time in a while. Management execution on their logistics and manufacturing divisions will need to prove out at the next results, but the momentum is worth noting.
ENX popping 3.5% today on what looks like decent volume. Anyone tracking their logistics division performance or is this just a technical bounce off support?
ENX down 6% today is probably overblown given the industrials sector rotation we're seeing. The real question is whether their infrastructure asset base and recurring revenue streams can weather this volatility, because that's what supports the dividend yield long-term.
Anyone else holding ENX through that trading statement or did the 2.50% drop scare you off? I'm trying to figure out if this is just noise or if something real changed with the industrials.