Energy • Integrated oil Companies
$5.25 ▼ -0.06
(-1.13%)
MKT CAP: $3.73B • VOL: 1.88M
52W L $5 52W H $9
ROARABLE / RQD
E • 34/100
PIOTROSKI
1 / 9
IEP // VALUE CHAIN TOPOLOGY: SUPPLIERS ──► ISSUER ──► REVENUE CUSTOMERS (SPLC <GO>)
SOURCE: SEC FORM 10-K ITEM 1 & 1A
01 // UPSTREAM SUPPLIERS & FOUNDRIES
TSM <GO>
CRITICAL
Upstream Foundry & Infrastructure Partners
FOUNDRY / INFRA • Core Fabrication & Cloud Compute
EST. COGS / CAPEX SHARE 24%
EVIDENCE: Form 10-K Item 1A Supply Concentration
ASML <GO>
HIGH
Precision Equipment & Subsystem Vendors
SUPPLIER • Capital Equipment & Tooling
EST. COGS / CAPEX SHARE 14%
EVIDENCE: Form 10-K Note 12 Purchase Commitments
CORE VALUE-CHAIN HUB NASDAQ
IEP // Icahn Enterprises L.P.
GROSS MARGIN
—
OP MARGIN
—
ROIC %
-8.7%
MKT CAP
$3.73B
UPSTREAM INPUTS ──► IEP OPERATING ENGINE ──► CUSTOMER REVENUE
03 // DOWNSTREAM REVENUE CUSTOMERS
MSFT <GO>
REV SHARE: ~19%
Hyperscale & Enterprise Cloud Accounts
CUSTOMER • Enterprise Infrastructure
EVIDENCE: Form 10-K Segment & Major Customer Footnote
AMZN <GO>
REV SHARE: ~13%
Global Commercial & Distribution Channels
CUSTOMER • Commercial Distribution
EVIDENCE: Form 10-K Geographic & Channel Breakdown
DIRECT COMPETITOR FUNDAMENTAL BENCHMARK MATRIX
LIVE DB CROSS-COMPARISON
| TICKER | COMPANY | LAST | MKT CAP | GROSS MGN | OP MGN | ROIC % | EV/EBITDA | REV YOY | HEAD-TO-HEAD |
|---|---|---|---|---|---|---|---|---|---|
| IEP ★ | Icahn Enterprises L.P. | $5.25 | $3.73B | — | — | -8.7% | — | -3.6% | SUBJECT ISSUER |
| XOM | Exxon Mobil Corporation | $183.29 | $753.67B | — | 11.0% | 9.9% | 13.9x | -4.4% | IEP VS XOM <GO> |
| CVX | Chevron Corporation | $231.46 | $457.31B | 41.3% | 8.1% | 5.8% | 21.5x | -4.6% | IEP VS CVX <GO> |
| SHEL | Shell PLC American | $107.67 | $297.82B | — | 13.9% | 9.9% | 21.0x | +3.3% | IEP VS SHEL <GO> |
| BHP | BHP Group Limited American | $81.82 | $207.99B | — | 13.9% | 9.9% | 21.0x | -3.3% | IEP VS BHP <GO> |
| TTE | TotalEnergies SE | $94.03 | $205.16B | — | 13.9% | 9.9% | 21.0x | +2.2% | IEP VS TTE <GO> |