SID 0013 Plantronics

Institutional investors have heard the story that unified communications is under-penetrated, and that soon most businesses will want to buy Plantronics' headsets that incorporate software compatible with Microsoft's Skype for Business cloud-based platform for office workers.  Why has penetration stalled at a fraction of where consultants thought it would have been already?  This stock research podcast provides equity analysis of Plantronics, and discusses why the penetration rate of unified communications might leap higher at some point in the next few years.  The competitive position of Plantronics and GN Store Nord / GN Netcom is explored fully.  There are high barriers to entry, for there are over 3 million lines of encrypted code in headsets.  These two players are duopolistic competitors, and they are both intensely focused upon returning cash to shareholders rather than destroying shareholder wealth.

Om Podcasten

Stocks-in-Depth thoroughly examines the fundamentals of reasonably valued high-quality small and mid-cap growth companies. It is produced by GARP Research, a provider of equity research to institutions including many of the most well-known fund managers for over 20 years. GARP is known for its granular modelling of business lines and in-depth assessment of competition and served markets. Stocks-in-Depth searches for value and growth by researching stocks that may be out of favor, or where a major catalyst to earnings growth is hidden. Our financial models attempt to shed light on trends underneath opaque segment reporting. Stocks in Depth emphasizes balance sheet accounts and profitability margins to determine underlying return on capital, and maintains healthy skepticism regarding pro forma adjustments and undue reliance upon unconventional measures such as EBITDA. We emphasize field visits with managements, industry conferences, non-public competitors and ancillary fields to detect industry dynamics. In our search for the best companies and investment opportunities, we often challenge the consensus view. StocksinDepth forecasts over the long-term, typically over about a three year horizon, and review track records going back for years.