I'm a fan of Sam Evans, The Electric Viking. He's exposed me to many great companies in the EV and clean energy space and thought leaders like the guys at Rethink X. Sam is a voracious YouTuber producing more content on the energy transition than anyone else in the world. Hat's off, mate!
A week or so ago Sam created a video on Next Energy Technologies solar glass breakthrough. I've been waiting for a company to crack this code, so I started researching. Unfortunately Next Energy is a private company. Fortunately, I discovered how to invest in a public company that owns part of Next Energy.
The following is from my NoteBook LM:
Apogee Enterprises, Inc. (APOG) is a leading provider of architectural products and services. Founded in 1949, the company has a 75-year history of growth and innovation. Apogee is headquartered in Minneapolis, MN, and its common stock is traded on the NASDAQ stock exchange.
Key aspects of Apogee:
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Business Focus: Apogee provides metal and glass solutions for commercial buildings and display applications. Its products include glass and aluminum window, storefront, and curtainwall systems designed to reduce energy consumption and protect occupants and property. Apogee also offers custom coating solutions for various industries.
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Brands and Subsidiaries: Apogee's family of companies includes Alumicor, EFCO, Harmon, Linetec, Tru Vue, Tubelite, and Viracon.
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Financial Performance: Apogee's annual revenues are approaching $1.5 billion. While fiscal year 2024 net sales declined 2% to $1.42 billion, the operating income increased to a record $134 million.
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Strategic Initiatives: Apogee is executing a three-pillar strategy to create peak value by building differentiated businesses with strong operational execution. Project Fortify is a key initiative aimed at streamlining operations and improving cost efficiency.
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Next Energy Technologies Investment: Viracon, an Apogee subsidiary, has invested in Next Energy Technologies, providing Apogee with potential exposure to transparent photovoltaic (OPV) window technology.
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Values: Apogee's culture is grounded in values such as integrity, customer focus, accountability, and respect for the individual.
After close analysis I believe Apogee Enterprises Inc. is undervalued. This might be a market timing thing...if there is a recession that would hit construction hard and that would have a negative impact on Apogee, but the P/E ratio is 10.5 , they manage their debt well and have healthy margins. The kicker, I don't think the market is pricing in Apogee's investment into Next Energy Technologies. If there is upside there you get it for free at today's prices.
*This is not financial advice. Do your own research and/or talk to a financial professional. I own shares in Apogee Enterprises Inc. and am therefore biased. Do your own research.
**Trigger warning: AI Podcast. Our hosts considered 21 sources including a full year of 10K and 10Q reports (ick). Respect. We use NoteBook LM to make our podcasts. LLMs are imperfect but the best way we know how to quickly compress piles of data into a 10 minute podcast. Still, do your own research.