Brian Langis
Value, contrarian, growth at reasonable price, special situations

SNC-Lavalin: Engineering A Margin Of Safety

SNC-Lavalin Group US: OTCPK:SNCAF Canada: SNC.TO

Note: Dollar amounts are in Canadian $ unless mentioned otherwise. USD-CAD 1.0262 Price of 1 USD in CAD. Source: Bloomberg

"An engineer is a person familiar with known scientific truths and respectful of the laws of nature, one who plans, executes, and economically manages works that will improve the comfort and well-being of humanity." Arthur Surveyer, November 1917

"In every crisis, there is opportunity." - Chinese proverb

Investment Thesis

The central focus of this article is to determine whether or not SNC-Lavalin (NASDAQ:SNC) is currently undervalued compared to its intrinsic value. In other words, is SNC a bargain? This article will demonstrate that SNC suffers from a price and value disparity because

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