Discussion about this post

User's avatar
Li Jiang's avatar

Really comprehensive write up!

Expand full comment
ES's avatar

Thank you for the write up. One question if I may.

Margins historically (pre covid) were substantially below current levels: why do you believe they will be able to retain higher margins for longer? in other words why are current margins sustainable as opposed as being a result of increased demand / cycle? B&C margins were higher historically, and have declined during covid, but now have returned to their longer term averages. Powersoft's operating margins were around 10% in 2017-2018-2019 and 12.4% in 2016. After the covid bounce they're now at 20%+. Why is this the new normal?

thank you

Expand full comment
2 more comments...

No posts