Trading Companies & Distributors


I always look at economics of the business
A bird in the hand is worth 2 in the bush and the question is how sure are you there are 2 in the bush and how long you have to wait to get them out
1. How many birds are in the bush?
2. When you gonna get them out?
3. How sure are you?
If interest rates are 15% roughly you've got 2 birds out of bush in 5 years equal to bird in the hand but if interest rates are 3% and you can get 2 birds out in 20 years it still makes sense to give up the bird in the hand because it's all gets back to discounting an interest rate. Often you don't know not only how many birds in the bush but in the case of internet companies there were not any birds in the bush but they still take the bird that you give them from the hand
Loop through all the subindustries and try to understand how many birds are in the bush from the perspective of economics of the business

Revenue

200020012002200320042005200620072008200920102011201220132014201520162017201820192020
Display GDP grow per year to compare with Revenue Change
1. Mitsui & Co., Ltd MITSY128,162104,38695,146112,10928,60832,88335,03141,51757,47555,91143,85956,54263,72552,16255,66145,05604,363,9694,892,1496,957,5246,885,033
2. Ferguson plc FERGY9,59410,25412,49513,27118,44319,84926,45433,03232,77724,13520,74722,31021,05219,96422,17513,33219,06720,00920,75222,01021,819
3. W.W. Grainger, Inc GWW4,9774,7544,6444,6675,0505,5275,8846,4186,8506,2227,1828,0788,9509,4389,9659,97310,13710,42511,22111,486
4. United Rentals, Inc URI2,9192,8872,8212,8673,0943,5633,6403,7313,2672,3582,2372,6114,1174,9555,6855,8175,7626,6418,0479,351
5. Bunzl plc BZLFY3,7444,1834,4854,8685,5875,0266,5287,1086,1077,5167,4347,9398,71510,1069,5919,5657,4298,5819,0799,327
6. Univar Solutions Inc UNVR10,32510,3748,9828,0748,2548,6339,287
7. WESCO International, Inc WCC3,8813,6583,3263,2873,7414,4215,3216,0036,1114,6245,0646,1266,5797,5137,8907,5187,3367,6798,1778,359
8. Finning International Inc FINGF1,6492,0402,0392,7703,4604,1464,3295,6814,9244,5034,6555,7816,6746,3605,9536,2755,6286,2656,9967,817
9. Veritiv Corporation VRTV6,5096,0125,6527,4078,7188,3278,3658,6967,659
10. Beacon Roofing Supply, Inc BECN5505606538511,5011,6461,7851,7341,6101,8172,0442,2412,32702,51504,12704,37706,4187,1056,944
11. HD Supply Holdings, Inc HDS08,0358,4878,8824,6157,4395,1216,0476,0476,1466,146
12. Rush Enterprises, Inc RUSHA8977847578151,0951,8652,3512,0311,6551,2391,4982,5813,0913,3854,7284,9794,2164,7145,5065,810
13. Fastenal Company FAST7468189059951,2381,5231,8092,0622,3401,9302,2692,7673,1343,3263,7343,8693,9624,3914,9655,334
14. Watsco, Inc WSO1,3071,2391,1811,2331,3151,6831,8011,7581,7002,0022,8452,9783,4323,7433,9454,1134,2214,3464,5564,781
15. AerCap Holdings N.V AER4557591,1271,2349871,8231,0701,0149973,7745,1045,0144,8084,5994,749
16. Toromont Industries Ltd TMTNF5375726851,0021,2361,3721,5141,9091,7431,7342,3391,3551,5191,5001,4291,3021,8672,3503,5043,679
17. Russel Metals Inc RUSMF1,0268818921,1702,0102,2432,3092,5682,7661,8742,1822,6413,0243,0013,3302,2482,5793,2964,1653,676
18. MRC Global Inc MRC1,7142,2673,6623,8464,8325,5715,2315,9334,5293,0413,6464,1723,662
19. BMC Stock Holdings, Inc BMCH1,0141,0931,1611,4152,0912,9123,2452,2851,3251,1971,2961,5773,0943,3663,6823,627
20. Applied Industrial Technologies, Inc AIT1,5721,6261,4471,4641,5171,7171,9012,0142,0891,9231,8932,2132,3752,4622,4602,7522,5192,5943,0733,4733,246
21. MSC Industrial Direct Co., Inc MSM7938697948459551,1001,3181,6881,7801,4901,6922,0222,3562,4582,7872,9102,8642,8883,2043,3643,192
22. GMS Inc GMS1,3531,5701,8582,3192,5113,1163,241
23. NOW Inc DNOW3,4144,2964,1053,0102,1072,6483,1272,951
24. BlueLinx Holdings Inc BXC3,7344,2725,5585,6224,8993,8342,7801,6461,8041,7551,9082,1521,9791,9171,8811,8162,8632,637
25. SiteOne Landscape Supply, Inc SITE1,1771,4521,6481,6481,8622,1122,358
26. Foundation Building Materials, Inc FBM5098211,3931,7902,0442,155
27. Air Lease Corporation AL573336568591,0501,2231,4191,5161,6802,017
28. Herc Holdings Inc HRI7,5638,2989,02110,77211,04610,5351,5551,7551,9771,999
29. Wajax Corporation WJXFF7696585786827729001,0351,1969979251,1151,3511,4781,3451,2491,2731,2221,3191,4821,553
30. Triton International Limited TRTN7037397088451,2011,4331,431
31. GATX Corporation GATX1,3121,4891,2741,2381,1661,1631,1531,2531,3411,1251,1671,2621,2431,3211,4511,4501,4181,3771,3611,394
32. H&E Equipment Services, Inc HEES3063524144786008041,0031,0696805747218379881,0901,0409781,0301,2391,348
33. CanWel Building Materials Group Ltd CWXZF8587818656616181,0356807166836548259781,1361,2911,334
34. DXP Enterprises, Inc DXPE1831741481511611852804457375836568071,0971,2421,5001,2479621,0071,2161,267
35. Titan Machinery Inc TITN2934336908391,0941,6592,1982,2261,9001,3681,2131,2031,2621,305
36. Hardwoods Distribution Inc HDIUF2413053113332111811982263083493925727891,0461,1341,172
37. Cervus Equipment Corporation CSQPF2873594715497408478431,1341,1101,2211,3501,139
38. Systemax Inc SYX1,6861,5471,5521,6581,9282,1162,3452,7803,0333,1663,5903,6823,5453,3523,4431,2441,6801,265897947
39. Kaman Corporation KAMN1,0318768818959951,1011,2061,0861,2541,1461,3191,4981,5931,6821,7901,7751,8081,8061,871882
40. Huttig Building Products, Inc HBP1,0739458719099381,0971,103875671455468479523562624660714753840812
41. Rocky Mountain Dealerships Inc RCKXF3325286357879749498319759309591,051775
42. Textainer Group Holdings Limited TGH234226256277237304423487529563544496491677707
43. Fortress Transportation and Infrastructure Investors LLC FTAI19.5358137149218380579
44. Fly Leasing Limited FLY58116221214220231376359405461345353418572
45. A.M. Castle & Co CTAM7456115385437619591,1781,4201,5018139441,1321,2701,053980638533519582560
46. CAI International, Inc CAI626165836578126174212228232294348432417
47. Willis Lease Finance Corporation WLFC57665660627185122149150148157148158174200207275348409
48. General Finance Corporation GFN0096146156182212246287304286277347378356
49. Lawson Products, Inc LAWS349379387389420450518510485379317315290270286276277306350371
50. Houston Wire & Cable Company HWCC173214323359361255309396393383390308262318357338
51. EVI Industries, Inc EVI19.5218.7214.2914.3214.6718.392023232319.6321223634313694150228236
52. Transcat, Inc TRNS807667575355606670758191110112119124122144155161173
53. KushCo Holdings, Inc KSHB1.714.018.2218.852149114
54. AeroCentury Corp ACY11.6310.488.698.76911.3915.5124323330252932293929362744
55. Generation Next Franchise Brands, Inc VEND05.266.275.694.280.8918.4
56. Euro Tech Holdings Company Limited CLWT15.0119.69242732312727322722202218.618.8218.32217.352017.4
57. General Steel Holdings, Inc GSIH901407721,3511,6681,8822,4522,8642,6382,3800000
58. Zedcor Inc CRFQF34445017.4410.614.6417.450
59. Bri-Chem Corp BRYFF9215318216116915997621161210
60. Eco-Shift Power Corp ECOP2.891.761.371.27
61. TransAKT Ltd TAKD0.20.360.450.08000
62. Richelieu Hardware Ltd RHUHF1281441662192703003384363554024355145695515717508449431,0040
63. Taiga Building Products Ltd TGAFF5005356228271,1001,0099479757989179859811,1141,0811,0631,3641,2241,3921,4510
64. WindGen Energy, Inc WGEI0.0500000000000
65. CD International Enterprises, Inc CDIIQ13.98174240691131881141.951.710.360.08
66. CCOM Group, Inc CCOM5831374561677282867880808688818187921050
67. Regional Brands Inc RGBD0.050.0100000000000003740
68. US-Dadi Fertilizer Industry International, Inc USDF0000


Revenue Growth

200020012002200320042005200620072008200920102011201220132014201520162017201820192020
Display GDP growth per year to compare with Revenue Change
1. Mitsui & Co., Ltd MITSY0.810.810.911.180.261.151.071.191.380.970.781.291.130.821.070.810INF1.121.420.99
2. Ferguson plc FERGY1.071.071.221.061.391.081.331.250.990.740.861.080.940.951.110.61.431.051.041.060.99
3. W.W. Grainger, Inc GWW0.960.960.9811.081.091.061.091.070.911.151.121.111.051.0611.021.031.081.02
4. United Rentals, Inc URI0.990.990.981.021.081.151.021.030.880.720.951.171.581.21.151.020.991.151.211.16
5. Bunzl plc BZLFY1.121.121.071.091.150.91.31.090.861.230.991.071.11.160.9510.781.161.061.03
6. Univar Solutions Inc UNVR110.870.91.021.051.08
7. WESCO International, Inc WCC0.940.940.910.991.141.181.21.131.020.761.11.211.071.141.050.950.981.051.061.02
8. Finning International Inc FINGF1.241.2411.361.251.21.041.310.870.911.031.241.150.950.941.050.91.111.121.12
9. Veritiv Corporation VRTV0.920.920.941.311.180.9611.040.88
10. Beacon Roofing Supply, Inc BECN1.021.021.171.31.761.11.080.970.931.131.121.11.040INF0INF0INF0INF1.110.98
11. HD Supply Holdings, Inc HDSINFINF1.061.050.521.610.691.1811.021
12. Rush Enterprises, Inc RUSHA0.870.870.971.081.341.71.260.860.810.751.211.721.21.11.41.050.851.121.171.06
13. Fastenal Company FAST1.11.11.111.11.241.231.191.141.140.821.181.221.131.061.121.041.021.111.131.07
14. Watsco, Inc WSO0.950.950.951.041.071.281.070.980.971.181.421.051.151.091.051.041.031.031.051.05
15. AerCap Holdings N.V AER1.671.671.481.090.81.850.590.950.983.791.350.980.960.961.03
16. Toromont Industries Ltd TMTNF1.071.071.21.461.231.111.11.260.910.991.350.581.120.990.950.911.431.261.491.05
17. Russel Metals Inc RUSMF0.860.861.011.311.721.121.031.111.080.681.161.211.140.991.110.681.151.281.260.88
18. MRC Global Inc MRC1.321.321.611.051.261.150.941.130.760.671.21.140.88
19. BMC Stock Holdings, Inc BMCH1.081.081.061.221.481.391.110.70.580.91.081.221.961.091.090.98
20. Applied Industrial Technologies, Inc AIT1.031.030.891.011.041.131.111.061.040.920.981.171.071.0411.120.921.031.181.130.93
21. MSC Industrial Direct Co., Inc MSM1.11.10.911.061.131.151.21.281.050.841.141.191.171.041.131.040.981.011.111.050.95
22. GMS Inc GMS1.161.161.181.251.081.241.04
23. NOW Inc DNOW1.261.260.960.730.71.261.180.94
24. BlueLinx Holdings Inc BXC1.141.141.31.010.870.780.730.591.10.971.091.130.920.970.980.971.580.92
25. SiteOne Landscape Supply, Inc SITE1.231.231.1411.131.131.12
26. Foundation Building Materials, Inc FBM1.611.611.71.291.141.05
27. Air Lease Corporation AL5.835.831.971.311.221.161.161.071.111.2
28. Herc Holdings Inc HRI1.11.11.091.191.030.950.151.131.131.01
29. Wajax Corporation WJXFF0.860.860.881.181.131.171.151.160.830.931.211.211.090.910.931.020.961.081.121.05
30. Triton International Limited TRTN1.051.050.961.191.421.191
31. GATX Corporation GATX1.131.130.860.970.9410.991.091.070.841.041.080.981.061.110.980.970.991.02
32. H&E Equipment Services, Inc HEES1.151.151.181.161.261.341.251.070.640.841.251.161.181.10.950.941.051.21.09
33. CanWel Building Materials Group Ltd CWXZF0.910.911.110.760.941.680.661.050.950.961.261.191.161.141.03
34. DXP Enterprises, Inc DXPE0.960.960.851.021.071.151.511.591.660.791.131.231.361.131.210.830.771.051.211.04
35. Titan Machinery Inc TITN1.481.481.591.211.31.521.331.010.850.720.890.991.051.03
36. Hardwoods Distribution Inc HDIUF1.271.271.021.070.630.861.091.141.371.131.121.461.381.321.081.03
37. Cervus Equipment Corporation CSQPF1.251.251.311.171.351.1411.350.981.11.110.84
38. Systemax Inc SYX0.920.9211.071.161.11.111.191.091.041.131.030.960.951.030.361.350.750.711.06
39. Kaman Corporation KAMN0.850.851.011.021.111.111.10.91.150.911.151.141.061.061.060.991.0211.040.47
40. Huttig Building Products, Inc HBP0.880.880.921.041.031.171.010.790.770.681.031.021.091.071.111.061.081.061.110.97
41. Rocky Mountain Dealerships Inc RCKXF1.591.591.21.241.240.970.881.170.951.031.10.74
42. Textainer Group Holdings Limited TGH0.970.971.131.080.861.281.391.151.091.060.970.910.991.381.05
43. Fortress Transportation and Infrastructure Investors LLC FTAI2.972.972.361.091.461.751.52
44. Fly Leasing Limited FLY1.991.991.910.971.031.051.630.951.131.140.751.021.191.37
45. A.M. Castle & Co CTAM0.820.820.881.011.41.261.231.211.060.541.161.21.120.830.930.650.840.971.120.96
46. CAI International, Inc CAI0.980.981.071.280.781.191.611.381.221.071.021.271.181.240.96
47. Willis Lease Finance Corporation WLFC1.161.160.841.071.031.141.211.431.221.010.991.060.951.071.11.151.041.331.271.17
48. General Finance Corporation GFNNANNANINF1.531.071.171.161.161.171.060.940.971.251.090.94
49. Lawson Products, Inc LAWS1.091.091.0211.081.071.150.980.950.780.840.990.920.931.060.9711.111.141.06
50. Houston Wire & Cable Company HWCC1.241.241.511.111.010.711.211.280.990.981.020.790.851.211.120.95
51. EVI Industries, Inc EVI0.960.960.7611.021.251.111.1111.020.851.091.051.610.930.911.172.611.61.521.03
52. Transcat, Inc TRNS0.940.940.880.860.931.041.091.11.061.071.071.121.211.021.061.040.991.181.081.041.08
53. KushCo Holdings, Inc KSHB2.352.352.052.292.772.860.76
54. AeroCentury Corp ACY0.90.90.831.011.031.271.361.531.331.050.90.821.21.10.891.340.751.240.761.61
55. Generation Next Franchise Brands, Inc VENDINFINF1.190.910.750.2120.66
56. Euro Tech Holdings Company Limited CLWT1.311.311.191.171.180.970.8711.170.860.820.911.070.861.010.971.230.771.160.87
57. General Steel Holdings, Inc GSIH1.551.555.541.751.231.131.31.170.920.90NANNANNAN
58. Zedcor Inc CRFQF1.291.291.130.350.611.381.190
59. Bri-Chem Corp BRYFF1.671.671.190.891.050.940.610.641.871.040
60. Eco-Shift Power Corp ECOP0.610.610.780.93
61. TransAKT Ltd TAKD1.771.771.250.180NANNAN
62. Richelieu Hardware Ltd RHUHF1.131.131.151.311.231.111.121.290.811.131.081.181.110.971.041.311.131.121.070
63. Taiga Building Products Ltd TGAFF0.80.81.071.161.331.330.920.941.030.821.151.0711.140.970.981.280.91.141.040
64. WindGen Energy, Inc WGEI0.020.020NANNANNANNANNANNANNANNANNAN
65. CD International Enterprises, Inc CDIIQ12.4612.461.380.291.641.670.610.020.880.210.23
66. CCOM Group, Inc CCOM0.530.531.191.211.381.091.071.151.040.911.030.991.081.030.9211.081.061.130
67. Regional Brands Inc RGBD0.150.150.250NANNANNANNANNANNANNANNANNANNANNANINF1.08
68. US-Dadi Fertilizer Industry International, Inc USDFNANNANNANNAN