Q: Are you still long term bullish on either TT or URI? I've been comparing these two companies for an industrial add.

TT is significantly larger, however URI seems to have better historical revenue CAGR, stronger EPS growth, and better margins, with a significantly lower forward earnings multiple and historically significantly more FCF per share.

What's your opinion on URI at these levels? With all the discussion about re-shoring manufacturing and data centre build-outs do you like URI's future prospects?

Or is TT better suited to capitalize on these trends I mentioned above in addition to the increasing need for HVAC in a volatile climate?


Why is the market assigning a significantly higher premium to TT over URI?
Any other industrials I should be considering?

Q: Presuming that the price of steel goes up with tariffs, outside of the steel industry itself, what sectors and specific companies lose out here? Thank-you.

Q: I'm down a bit on HPS.A and would like your opinion on topping it up or selling and buying URI in its place?
Thank you