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I originally wrote an article on Good Times Restaurants (NASDAQ:GTIM) back in June 2021. Things were going well until the Q2 2022 report. Beef, labor and delivery are all eating away at GTIM’s margins as we experience an inflationary bout. The Q2 2022 restaurant level margins declined by 6% YOY from 18% to 12%. These problems are not unique to GTIM and they sum up the Macro environment for the restaurant industry as a whole.

AF Legal is a law firm rolling up the family law market in Australia. Family law is a branch of law focused on divorce, separation, property and children matters. AF Legal is growing fast since listing revenue and ebitda CAGR are 50% and 125% with less than 2% market share in the family law market in Australia. AF Legal is able to acquire other family law firms at very attractive multiples of 1.5-3.5 times EBITDA or 3-7 times FCF. AF Legal also has great return on capital metrics clocking in over 20% ROIC as of H1 2022. The market opportunity is large for AF Legal and so AF Legal should be able to keep growing at this fast clip, acquiring companies at cheap multiples, and having great returns on capital. 

Onex (OTCPK:ONEXF) is an asset manager focused on the fast growing private equity and debt markets located in Canada. Onex has a large portion of capital invested in its own private equity funds which has produced great returns and is being undervalued by the market. Onex’s asset management business is still in its infancy and Onex is projecting high growth over the next 5 years which should begin to create fee-related earnings for Onex. Execution for Onex will reap large rewards for shareholders at these levels.

Village Super Market (NASDAQ:VLGEA) is a small-cap grocery store located in New Jersey, New York, Pennsylvania, and Maryland. Village operates 37 grocery stores under three different brands including Shoprite, Fairway, and Gourmet Garage. Village is a member of Wakefern which is the largest food cooperative in the United States. Wakefern is Village’s largest supplier and Village is one of Wakeferns largest shareholders. Village Super Market is trading at one of the lowest price to sales ratios or P/S Ratio in the grocery sector and the lowest P/S ratio Village has traded for in the past decade. This low valuation is most likely caused by the trend in Village’s profitability. For Village, I see a number of catalysts that could reverse this trend and lead to a far higher stock price more comparable to their peers.

Singapore O&G(SINP) is a Gynecology/Pediatric/Cancer/Dermatology/ and Baby delivery company located in Singapore. The company had a high single digit share in deliveries in Singapore. I can also assume that most of their other services are probably under a high single digit share in Singapore.