Macro Enterprises (CVE:MCR)

Om Bolaget från Google Finance:
Macro Enterprises Inc. is engaged in providing pipeline and facilities construction and pipeline repair services to companies in the oil and gas industry in western Canada. Pipeline construction performs a range of activities, including clearing and grading of the right-of-way, welding of the pipe to form a continuous pipeline, creating a ditch in which to bury the pipe and backfilling the ditch, among others. Pipeline repair is divided in two categories, emergency and planned work. Emergency work usually results from the occurrence of an incident, such as a leak condition. Pipeline repair includes mobilizing personnel and equipment to site requiring work, excavate and expose the pipeline section that requires a repair or assessment and remove pipeline coating and assess the pipeline to determine magnitude of repair required, among others. The Company owns mechanics shop in Fort St. John where it maintains all of its heavy duty construction equipment.

Nyckeltal- Balansräkning	2015-12
Soliditet	82,57%
Balanslikviditet	4,34
Asset turnover ratio	99%
Z-score	4,4
F-score	8,0

Värdering Tillgångar
Pris per aktie	1,85
NCAV per aktie	1,42
Säkerhetsmarginal NCAV %	-30,6%
P/NCAV	1,31
NAV per aktie	3,18
Säkerhetsmarginal NAV %	41,80%
P/NAV	0,58
Direktavkastning	0,52%

Historik 10 år
Utdelningshistorik	7
Vinsthistorik	8
CFO Historik	8

Kommentar VD äger 30% av bolaget. Kassan motsvarar 60% av börsvärdet. Återbetalar skulder kraftigt. Justerat för kassan handlas bolaget till låga P/E 2,5. Dessutom enorma kassaflöden. Branchen kanske inte är superattraktiv men jag tycker det fundamentala motiverar ett köp. Disclosure: Äger aktier i bolaget.