DPC Holdings ($DPC) podcast mentions
Timestamped DPC Holdings ($DPC) mentions across our podcast corpus.
So our biggest portfolio outside the United States when it comes to consulting healthcare practices and is in Canada and then Europe. And so I think based off this question, I can certainly kind of tell you what I see. And from a data perspective is that, you know, if we are leaning towards sort of organizing that system, I think, yes, certainly, maybe the access to care perhaps may be improved, maybe the quality of giving people what they deserve, perhaps, but debatably improves. But I do think it creates a greater divide. I do think that the rise of, hey, people that can afford— because they're not going to wait. Multiple months to be seen. They're going to want care today. They have the means, financial means, to get it. So the demand for those types of clinics, as I mentioned, concierge or DPC or cash-based practice or membership model clinics, will rise. Let's use Canada as an example. My biggest portfolio outside the United States is all across Canada. We consult a little over 500 practices there, and the biggest challenge that they face is that to see a specialist— let's just use a physical therapist, or let's see, say a psychiatrist, a huge demand field right now. It takes at least 13 to upwards of 18 months to schedule a visit with that specialist. Now, a nationalized healthcare system certainly may be okay, great, I will deal with that because the government's paying for it. But you think that a person of, you know, wealth or an individual that has the means will wait? No, they want— for them, it's a loss of opportunity. They see, I'm— my job is being impacted, my family is being impacted, I have the financial means, Is there a clinic that will give me access to care now? What does this ultimately relate to? This means concierge cash-based TPC type style practices will have a higher likelihood of success. But that's what I mean by it'll create, it'll create a bigger divide because we see it with Canada, we see it with Europe, but we see that it's only going to create a larger bottleneck, a larger timeframe of specialists, uh, or being seen by a specialist. And that's the fear that I have.
Sam Patel · Becker’s Healthcare Podcast · Healthcare’s Supply-Demand Crisis: AI, Concierge Care and the Future of Access with Dr. Sam Patel · 2026-09-06Yeah. You think it's a little coordinated counter— counter messaging? Yeah. They were enjoying their oligopoly. Yeah, maybe. "By doing in-house casting at SpaceX, we can accelerate natural gas turbines coming online by up to 18 months, which is a profound game changer," he wrote in his post responding to a report from The Information. Interesting. In mid-August, Morgan Stanley published a report saying that SpaceX was planning such a foundry in Bastrop, Texas, based on the company's job postings. Shares of Howmet Aerospace fell more than 7% Monday before partially rebounding on Tuesday. Howmett and Berkshire Hathaway's Precision Castparts are the two biggest players in the market for these parts, which also include blades and vanes for the aerospace and defense sectors. Smaller players, DPC's shares were also hit. It is premature to scout— to count SpaceX as a threat, the Wall Street Journal says, but shares of Howmett Aerospace and DPC might have been due for a breather. They are among the priciest artificial intelligence picks and shovels plays at 42 times and 45 times forward earnings respectively. Turbine makers GE, Vernova, and Caterpillar fetch 33 times and 26 times earnings for perspective. And there's a nice chart there to show you the price to earnings, price to forward earnings ratios for some of the AI bottleneck plays. And the blade and vane manufacturers are up in the upper echelon. DPC is the most vulnerable to disruption in this space. It is small and about 40% of the revenue comes from natural gas-fired turbines. While Howmett holds about half the global market share of components used in natural gas turbines, it is diversified across aerospace and defense with only 11% coming from gas turbines. SpaceX will face barriers to entry. One reason there are so few companies in the sector is that it's technically challenging to make the blades which must withstand extreme temperatures and rapid rotations. That feels like SpaceX's bread and butter, though. The casting process makes a— involves making a new wax mold from scratch each time. Making these parts requires the blade to be grown in a vacuum furnace as a single crystal of nickel superalloy, according to Nigel Cheung, an analyst at SemiAnalysis. SemiAnalysis getting a shout out in the Wall Street Journal. Even a stray grain or hairline defect means the part has to be scrapped, he added.
John Coogan · TBPN · Another AI Safety Kerfuffle, Markiplier’s Stake in GoPro, SpaceX Getting Into Turbines | Diet TBPN · 2026-09-02Yeah, maybe. By doing in-house casting at SpaceX, we can accelerate natural gas turbines coming online by up to 18 months, which is a profound game changer, he wrote in his post responding to a report from The Information. Interesting. Wasn't Sarah Guo mentioning on the Investing the Best podcast that a lot of the— or she was talking to a hyperscaler CEO or someone who was in a place to know that was saying like the bottleneck is real. It's very real. And there's nothing in the short term that's going to come online that will alleviate power generation. So that is where the real bottleneck is, at least in the short term. So in mid-August, Morgan Stanley published a report saying that SpaceX was planning such a foundry in Bastrop, Texas, based on the company's job postings. Shares of Howmet Aerospace fell more than 7% Monday before partially rebounding on Tuesday. Howmet and Berkshire Hathaway's Precision Cast Parts are the two biggest players in the market for these parts, which also include blades, which also include blades and vanes for the aerospace and defense sectors. Smaller players, DPC's shares were also hit. It is premature to scout to count SpaceX as a threat, the Wall Street Journal says. that shares of Helmet Aerospace and DPC might have been due for a breather. They are among the priciest artificial intelligence picks-and-shovels plays at 42 times and 45 times forward earnings respectively. Turbine makers GE Vernova and Caterpillar fetch 33 times and 26 times earnings for perspective. And there's a nice chart there to show you the price-to-earnings price-to-forward earnings ratios for some of the AI bottleneck plays and the blade and vane manufacturers are up in the upper echelon. DPC is the most vulnerable to disruption in this space. It is small and about 40% of the revenue comes from natural gas-fired turbines. While Howmett holds about half the global market share of components used in natural gas turbines, it is diversified across across aerospace and defense, with only 11% coming from gas turbines. SpaceX will face barriers to entry. One reason there are so few companies in the sector is that it's technically challenging to make the blades, which must withstand extreme temperatures and rapid rotations. That feels like SpaceX's bread and butter, though.
John Coogan · TBPN · Yapping in Neuralese, GoPro v2, Jimmy Iovine in the Ultradome | Nikesh Arora & Andrei Serban, Kurt Tenenbaum, Philip Johnston · 2026-09-02Yeah. So I actually have a really good story about this. So my wife a couple years ago was traveling with her sister for a wedding a few years ago. And after the wedding, they ended up in Athens, Greece. And So while they were there, they went to a Domino's, and she said hands down it was by far the best Domino's pizza that she'd ever had. And you know, she's had Domino's with me in Vancouver, she's had it in Hawaii where she grew up, so she's had a lot of Domino's from all over the place. So it was really interesting that Athens, Greece of all places would have Domino's pizza that was the best that she ever ate. So I found this kind of interesting at the time because I was thinking, well, why, why is it that Domino's halfway around the world is going to taste different than You know, a Domino's right around my block. And I think I figured the answer to that since researching Domino's specifically for this episode. So internationally, Domino's has a whole bunch of franchises that are actually run by master franchisees. So they kind of offload a lot of that franchising to these master franchisees. And actually plenty of these franchisees are publicly traded. You got Jubilant Food Networks in India, you got DPC Dash in China and Hong Kong, then you got Domino's Pizza Group in the UK. So in these cases, the master franchisees, they're actually building out their own supply chain centers, and this is part of the reason that they pay a lower franchise fee to Domino's. It's much more of a pure royalty play, but that's why the margins are so high.
Kyle Grieve · The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network · TIP839: Domino's Pizza (DPZ): Is the Royalty Engine Still Running? w/ Kyle Grieve & Shawn O’Malley · 2026-08-20Now that the market's digesting the SpaceX IPO, although it didn't do well for the last few days, I want to focus on some deals that I think have gotten lost in the shuffle. Take DPC Holdings. Now, this is a British industrial that came public late last month while I was on vacation. This is the parent company of Doncaster. That's a maker of precision cast components for airplane engines and industrial gas turbines. Hot markets given that aerospace and power generation equipment are two of the best themes in this, in this entire tape. Well, we got to take a closer look. Well, DPC didn't get much attention. The stock came public with a bang, pricing at $33, opened at $44, finishing the day at $46. Oh, I like that cadence. Stock got as high as $53.50 by the end of June, but now it's pulled back to the high 40s over the last couple of weeks. Part of the broader sell-off of anything connected to the infrastructure trade, including gas turbines. So is it worth holding? Is it worth buying? Let me give you some background. Doncaster is a very old company. It's founded in 1778. Originally it was a file-making business before expanding to other iron and steel products during the First and Second Industrial Revolutions. Eventually they started making metal parts for aircraft engines and gas turbines and slowly bolstered those businesses through acquisitions. Now, Doncaster's went through a bunch of different owners before before being taken private by the Royal Bank of Scotland in 2001, then sold to Dubai International Capital in 2006. Now, in 2020, the old Doncasters went through the British equivalent of a bankruptcy proceeding. It's where the bondholders basically took over the business, which is how it became TPC Holdings. Today, this is a company that makes highly engineered, mission-critical precision cast components for major players in aerospace and power generation. There are very high barriers to entry in this business. So both of them actually. So TPC doesn't face much of a way of competition. Not many companies can even try to make this stuff. Usually they trade at huge premiums in our market. And make no mistake, aerospace engines and gas turbines are hot end markets right now. I actually cringed a little while reading the IPO prospectus because they kept using the term supercycle to describe both of their main end markets. Now you see, I hate that term because you usually don't start hearing it until a cycle's coming to an end. Remember the coal supercycle? How about the fracking sand supercycle?
Jim Cramer · Mad Money w/ Jim Cramer · Mad Money w/ Jim Cramer 7/8/26 · 2026-07-08Based on the strictest GAAP standards, which we like on Mad Money, DPC lost $173 million last year and $47 million in the first quarter of this year. The first quarter of this year. I don't know how they did that. However, if you look at their income statement, the main reason for the losses is elevated interest expense, which mostly was from this thing called payment-in-kind loan due to the company's shareholders who were the old creditors for the restructuring in 2020. Remember the bankruptcy restructuring I mentioned? Fortunately, the shareholders agreed to crunch down that loan by 85% back in March. Then they used the IPO proceeds to pay off the balances. That means TPC's interest expense will come down substantially, making the company a heck of a lot more profitable than it looks, which is exactly what we want. In their IPO prospectus, they offered adjusted net income numbers. Which add back the payment-in-kind loan costs I just mentioned, as well as some other non-repeating expenses. Using these adjusted numbers, DPC actually made $45 million in net profit last year and $12 million in the first quarter. Okay, not great, but at least they're, they're in the black without the payment-in-kind loan devouring their profits. I think a lot of people are confused by what I just went over. Since this is a smokestack industrial, we also like to look at the interest You know, we think about EBITDA, that's earnings before interest, taxes, depreciation, amortization, because that tells you more about the state of the business under the surface. And those EBITDA numbers, they're pretty darn solid. Okay, let's talk about the balance sheet, because that was a problem in 2020. It's a key factor given the restructuring. Now they've handled the payment-in-kind loan hangover that I've mentioned. What's left is a pretty manageable debt load. We're talking about $542 million in adjusted net debt. Compare that to DPC's EBITDA over the past 12 months and the company's got a leverage ratio of 3.6. Now that's on the higher end, but when it comes to what they're doing on this show, we think it's an acceptable level. Which brings me to the final question: is DPC worth owning here after its fairly strong start? Let's look at how the stock trades versus its closest independent comparison, how Matt Arrow's Space or How I Met Your Mother, as we know it here on Mad Money. We do like that stock very much. Using enterprise multiple, that's the sum of the market cap and the net debt load divided by the EBITDA that I just gave you. You can see that TPC is an enterprise multiple of 55. Ooh, that's a good bit more expensive than the much-loved How I Met at 46. If we get a bit aggressive and create an EBITDA estimate of $190 million for TPC this year, that's fair enough. That's assuming they can keep growing at the same pace as the first quarter. Then the stock would have an enterprise multiple of just over 40 on 2026 numbers, still a little higher than Hellmann at 36. So ultimately, what I would say about TPC Holdings or Doncaster is it's a great story, mostly because of the extremely attractive end markets— aerospace, engines, and gas turbines. But I'm not sure if this is the moment to embrace the stock. See, right now TPC is trading at a premium to a tried and true operator like Howmet, even though it's a much smaller company that's far less profitable. Here's the bottom line. I really do like TPC, and it's also in great businesses, but I'd love to see the stock come in just a bit before buying it. How about at around $42, $2 lower? I would feel much better. The stock would have the same valuation as Howmet. You could put a small position on here, although ideally I prefer you to wait for an entry point in the 30s where the— where TPC would be a discount to its closest public traded companies and would be—
Jim Cramer · Mad Money w/ Jim Cramer · Mad Money w/ Jim Cramer 7/8/26 · 2026-07-08