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RIO: Strong balance sheet and solid free cashflow

Paradice Australian Large Cap , Paradice Investment Management , Reporting Season
Published on 27 February 2020 Reporting season update saw RIO reported underlying NPAT of US$10.4bn, up 18% year on year. This was largely in line with our estimates as well as consensus. The balance sheet finished the year in a strong position with US$3.6bn of net debt (this was better than expected however seems largely timing related with a tax...

Preparing for the great wildebeest migration

Growth vs Valuation , Paradice Australian Large Cap , Paradice Investment Management
Published on 5 December 2019 Over the last decade in Australian equities, factor returns for growth and momentum-based strategies have been astonishingly successful - versus value and earnings volatility - as investors have been happy to pay up for companies exhibiting strong earnings growth and share price momentum. This investor desire to own companies growing quickly and or with certain...

What we like and what we’re avoiding

Austra , Paradice Australian Large Cap , Paradice Investment Management , Sector Outlook
Published on 10 May 2019 "Back in late 2017 when BHP was $26 and unloved, Troy Angus Head of Australian large caps at Paradice Investment Management made the case for the stock in a Livewire interview. Fast-forward to today, and the stock is close to $40, and paying dividends. We recently sat down with Troy and asked if the big miners...