Monthly Portfolio Update - March 2024

A second strong month with a 10.2% portfolio performance since January

Hello fellow investor,

In this section, I present a transparent monthly update of my portfolio. It follows my investment strategy that you can find here.

This presentation is divided into several parts:

• Global view of the valuation and the portfolio’s metrics

• For dividend lovers, presentation of the Projected Annual Dividend Income (PADI) and a monthly calendar

• Sector and geographical breakdown

For paying subscribers, there is also:

• An explanation of the month's movements

• Review of the month's news

• Presentation of current portfolio

Please note that my portfolio is in euros, so I am subject to exchange rate fluctuations, especially the euro-dollar exchange rate.

Valuation and metrics

The monthly performance is 3.8%. The small cap portfolio almost reaches 10% performance due to a takeover bid on the first stock bought!

The annual performance is therefore 10.2%. This is better than most of the indexes (Nasdaq: 7.08% / SP500: 6.80% / CAC40: 5.09% / FTSE100: -1.33% / MSCI World: 4.84%)

Here are the portfolio’s key metrics (weighted average):

• Past growth: 12.0% / Estimated future growth: 9.3%

• Net profit margin: 24.2%

• ROE: 38%

• Debt leverage: 0.27x EBITDA

• PE: 29.7x / PE Y+2: 22.2x

• FCF yield: 3.80% / FCF yield Y+2: 5.07%

• Dividend yield: 1.50%

• Dividend growth: 9.24%

• Buybacks: 0.84%

Projected Annual Dividend Income

PADI evolution

PADI increased due to the 2 new stocks in the small cap portfolio (+18€) and increase from some dividend growth stocks.

Projected monthly dividend income

Net dividend received

Sector and geographical breakdown

Sector breakdown

Geographical breakdown

The sector breakdown is decent, even if I would prefer to overweight the healthcare and technology sectors.

And now, it is time to see the stocks in both portfolios!