Onex Corp

ONEX-T

TSE:ONEX

61.12
0.21 (0.34%)
Onex Corporation is a private equity investment firm and holding company based out of Toronto, Ontario. As of 2016, the firm has over $22 billion of assets under management.
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Analysis and Opinions about ONEX-T

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
October 17, 2017

Right now, this is hanging on EBV+3. EBV offers support for the stock. He would choose not to play this as there are other opportunities out there. It is very nebulous to look at and there are no real earnings.

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Onex Corp (ONEX-T)
October 17, 2017

Right now, this is hanging on EBV+3. EBV offers support for the stock. He would choose not to play this as there are other opportunities out there. It is very nebulous to look at and there are no real earnings.

COMMENT
COMMENT
October 4, 2017

You have to be very patient with this, because whatever deals come along at the appropriate time, it is to their credit. They are not going to overpay just for the sake of overpaying, which is what we are seeing now among the pension funds. If this market ever quits, there could be a lot of problems in the private equity market.

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Onex Corp (ONEX-T)
October 4, 2017

You have to be very patient with this, because whatever deals come along at the appropriate time, it is to their credit. They are not going to overpay just for the sake of overpaying, which is what we are seeing now among the pension funds. If this market ever quits, there could be a lot of problems in the private equity market.

BUY
BUY
July 14, 2017

A very strong, blue-chip, acquirer of companies, which has grown from next to nothing. Thinks it will continue this route.

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Onex Corp (ONEX-T)
July 14, 2017

A very strong, blue-chip, acquirer of companies, which has grown from next to nothing. Thinks it will continue this route.

WATCH
WATCH
June 6, 2016

A wonderful company. Their ability to acquire companies, fix them up and sell them is great. He got out too soon and is not yet comfortable getting back in. A great company and a durable business. It will go up for many more years. However they don’t pay a good dividend and they are cyclical.

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Onex Corp (ONEX-T)
June 6, 2016

A wonderful company. Their ability to acquire companies, fix them up and sell them is great. He got out too soon and is not yet comfortable getting back in. A great company and a durable business. It will go up for many more years. However they don’t pay a good dividend and they are cyclical.

HOLD
HOLD
May 25, 2016

(Market Call Minute.) Sold his holdings in the 80s and it has not come off enough for him to buy it back yet.

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Onex Corp (ONEX-T)
May 25, 2016

(Market Call Minute.) Sold his holdings in the 80s and it has not come off enough for him to buy it back yet.

BUY
BUY
February 22, 2016

Has a first-class venture capital team, and everybody should have a certain amount of venture capital in their growth portfolios. This should be a 5% position. Looking out 3-5 years, you will be well rewarded.

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Onex Corp (ONEX-T)
February 22, 2016

Has a first-class venture capital team, and everybody should have a certain amount of venture capital in their growth portfolios. This should be a 5% position. Looking out 3-5 years, you will be well rewarded.

PAST TOP PICK
PAST TOP PICK
February 19, 2016

(A Top Pick Dec 8/14. Up 27 point to 3%.) They report their NAV in US dollars, so the currency plays a big part. Still have about 35% of their balance sheet in cash.

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Onex Corp (ONEX-T)
February 19, 2016

(A Top Pick Dec 8/14. Up 27 point to 3%.) They report their NAV in US dollars, so the currency plays a big part. Still have about 35% of their balance sheet in cash.

DON'T BUY
DON'T BUY
February 4, 2016

It is at EBV +5, so expensive. Their earnings are lumpy so he thinks the model price is not relevant. If it broke below $78 he would be quite defensive with it.

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Onex Corp (ONEX-T)
February 4, 2016

It is at EBV +5, so expensive. Their earnings are lumpy so he thinks the model price is not relevant. If it broke below $78 he would be quite defensive with it.

BUY WEAKNESS
BUY WEAKNESS
January 28, 2016

Got rid of his holdings, probably too early. A great compounder of capital, and one that he always has on the on-deck list. Feels it is now trading at around its breakup parts. This is probably the time when this company thrives when the market gets dislocated and they can put their private capital to use to make smart acquisitions. If you see a meaningful pullback, he would be a buyer.

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Onex Corp (ONEX-T)
January 28, 2016

Got rid of his holdings, probably too early. A great compounder of capital, and one that he always has on the on-deck list. Feels it is now trading at around its breakup parts. This is probably the time when this company thrives when the market gets dislocated and they can put their private capital to use to make smart acquisitions. If you see a meaningful pullback, he would be a buyer.

COMMENT
COMMENT
September 1, 2015

This company doesn’t tend to have a very wide following which this has been one of its advantages. They have made good money in a number of the businesses that they have operated. Basically you are buying into ownership of a private equity kind of business. Multiples are a little bit high when compared with some of their competitors.

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Onex Corp (ONEX-T)
September 1, 2015

This company doesn’t tend to have a very wide following which this has been one of its advantages. They have made good money in a number of the businesses that they have operated. Basically you are buying into ownership of a private equity kind of business. Multiples are a little bit high when compared with some of their competitors.

PAST TOP PICK
PAST TOP PICK
August 13, 2015

(A Top Pick Aug 29/14. Up 18.3%.) Part of the growth is that a lot of their assets are not in Canada. The people making the decisions have quite a bit of their own money tied up. There has been a knock on the stock because they have cash and have a 15% return every year, so it is hard to do that when at one point half their balance sheet was in cash. Have announced a number of acquisitions, even over the last quarter, that she thinks will help. Very focused on the kind of acquisitions they make. A lot of it is top down.

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Onex Corp (ONEX-T)
August 13, 2015

(A Top Pick Aug 29/14. Up 18.3%.) Part of the growth is that a lot of their assets are not in Canada. The people making the decisions have quite a bit of their own money tied up. There has been a knock on the stock because they have cash and have a 15% return every year, so it is hard to do that when at one point half their balance sheet was in cash. Have announced a number of acquisitions, even over the last quarter, that she thinks will help. Very focused on the kind of acquisitions they make. A lot of it is top down.

COMMENT
COMMENT
May 25, 2015

This has generally been a good buyer of businesses which they run for a while. What he has noticed over the last couple of years is that the discount to the net asset value has really narrowed. They used to trade at about 50% of their NAV, and as they have continued to do accretive deals that has narrowed somewhat. He doesn’t find it that attractive on a valuation basis.

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Onex Corp (ONEX-T)
May 25, 2015

This has generally been a good buyer of businesses which they run for a while. What he has noticed over the last couple of years is that the discount to the net asset value has really narrowed. They used to trade at about 50% of their NAV, and as they have continued to do accretive deals that has narrowed somewhat. He doesn’t find it that attractive on a valuation basis.

PAST TOP PICK
PAST TOP PICK
May 13, 2015

(A Top Pick May 14/14. Up 9.34%.) They continue to do very well and it has been a good ride. They tend to buy businesses, fix them and then sell them.

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Onex Corp (ONEX-T)
May 13, 2015

(A Top Pick May 14/14. Up 9.34%.) They continue to do very well and it has been a good ride. They tend to buy businesses, fix them and then sell them.

BUY
BUY
February 26, 2015

One of the companies she is enthusiastic about. A lot of their assets are in US$. They have strong alignment with shareholders. It is a core holding and a great opportunity.

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Onex Corp (ONEX-T)
February 26, 2015

One of the companies she is enthusiastic about. A lot of their assets are in US$. They have strong alignment with shareholders. It is a core holding and a great opportunity.

COMMENT
COMMENT
February 4, 2015

Has a lot of funds under management for others where they get a management fee and a share of the profits. The biggest difference between this company and Brookfield Asset Management (BAM.A-T) is that this one pays a very small dividend, and doesn’t seem interested in raising that dividend. Dividend yield of only 0.28%.

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Onex Corp (ONEX-T)
February 4, 2015

Has a lot of funds under management for others where they get a management fee and a share of the profits. The biggest difference between this company and Brookfield Asset Management (BAM.A-T) is that this one pays a very small dividend, and doesn’t seem interested in raising that dividend. Dividend yield of only 0.28%.

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