Special Announcement: The Intrinsic Value Podcast Update

In today's episode, Kyle Grieve and Shawn O’Malley discuss Aritzia, the everyday luxury fashion brand that has become one of retail's most impressive compounders. They explore how a small boutique in the corner of a department store grew into a brand with exceptional store-based economics, a spotless balance sheet, and a huge untapped opportunity across America. With the stock falling even as the business posts some of its best growth ever, they debate whether this is a rare chance to own a durable compounder or a hot brand nearing its peak.

Daniel Mahncke and Shawn O'Malley revisit the two luxury houses they passed on last time — Hermès (EPA: RMS), the 189-year-old maker of the Birkin bag, and LVMH (EPA: MC), the 75-brand conglomerate behind Louis Vuitton, Dior, Tiffany, and Hennessy. Both stocks now sit near their lows: Hermès is down more than 50% from its February 2025 peak and trades at 32 times earnings for the first time in a decade, while LVMH has fallen to a five-year low after two straight years of declining sales — something that didn't even happen in 2009. The luxury industry has lost roughly 70 million customers since 2022, the Chinese market that tripled between 2017 and 2021 has been shrinking ever since, and a war in the Gulf emptied the stores on the Champs-Élysées of their best-spending tourists.

In today’s episode, Kyle Grieve and Shawn O’Malley discuss HEICO and TransDigm, two dominant players in the aerospace components industry known for their pricing power and resiliency. They’ll compare how each company grows through acquisitions and organic expansion, how they approach debt and capital allocation, and what gives each business its durable competitive advantages. The discussion also covers the risks facing both companies, including regulatory scrutiny and reliance on continued aerospace demand, as well as potential sources of future growth.

In today's episode, Kyle Grieve and Shawn O’Malley discuss Walmart and how it grew from Sam Walton's small-town five-and-dime into a retail giant. Today, it also makes money from e-commerce, a marketplace, advertising and memberships. They cover the scale advantages behind Walmart's everyday low prices, how its suppliers end up financing its inventory, and why its power over those suppliers continues to draw antitrust scrutiny. They also look at Walmart's capital allocation, management, growth levers and the biggest risks facing the business.

Daniel Mahncke and Shawn O'Malley revisit Meta Platforms (NASDAQ: META), the advertising machine behind Facebook, Instagram, and WhatsApp that reaches 3.6 billion people every day — over 40% of the world's population — and just grew ad revenue 27% to a nearly $240 billion annual run rate. Yet the stock trades more than 20% below its highs, because the money is going out even faster than it's coming in: operating margins fell from 43% to 31% in a single year, quarterly free cash flow collapsed from $8.5 billion to $784 million, and capex guidance now sits at $130–145 billion this year — with analysts penciling in $200 billion for next.