Ticker GTT, Euronext Paris
ISIN FR0011726835
There are only a handful of businesses in the world that feel like toll roads on critical infrastructure. GTT from France is one of them. The company provides membrane containment systems for LNG carriers and related storage. Every time a new LNG vessel is ordered, GTT’s technology gets paid. When the world needs more gas flexibility, more floating storage, more bunkering capacity, GTT sits in the middle, collecting high margin royalties with limited capital intensity. That is the kind of business I like to study. Low asset intensity. Strong pricing power. Deep technical moat. A product that is mission critical and that no one wants to reinvent from scratch.
The timing question is the only real question. LNG ordering is cyclical. Orderbooks surge after supply shocks, then cool when charter rates soften. Investors chase the upcycle and forget the through cycle math. The edge is to know when to lean in, when to sit on your hands, and what hard trigger makes GTT a clear buy. Today I will give you the exact condition that flips GTT from interesting to must own. If that condition appears, I will move fast. If it does not, I will wait and watch.
If you are new here, FJ Research focuses on bold bets on category defining companies. Extraordinary outcomes come from concentrated thinking, not broad diversification. I study a few ideas at a time and I am willing to size them when the setup is asymmetric. GTT fits the mold. It is a royalty on a capacity build that is still in the early innings of a multi decade transition in energy logistics. But we do not pay any price. We wait for the right price and the right setup.
Read the full report to see the precise buy trigger I am using for GTT, the threshold that turns this quality compounder into an asymmetric bet, and the portfolio sizing plan I will follow. If you want the exact signal and you want it in real time, become a paid member now. The window on this kind of setup does not stay open for long.