Beijing Jingcheng Machinery Electric Co. Ltd. Class A 600860

Tetra Tech has delivered a 10.4% total return over the past 3 years, which puts its cash generation in the spotlight. With the share price recently closing at US$33.72, the key issue now is whether that level is adequately backed by the cash flows the business produces. A 10.4% gain across 3 years means long term holders have seen steady progress. This raises the question of how much future cash flow is already reflected in the current valuation. The company’s model in consulting and...

What the Columbia deal and aerospace hire signal for GXO Logistics GXO Logistics (GXO) just locked in a 10-year logistics partnership with Columbia Sportswear covering its core European distribution hub in France, while also creating a new aerospace and defense leadership role. Taken together, the Columbia Sportswear contract and the appointment of Dan Davis point to GXO leaning into long-duration customer contracts and higher value sectors that rely on complex, tightly controlled supply...