Blind Stock Valuation Podcast #1: Addressograph-Multigraph (1966)

by Geoff Gannon

In the first ever episode of the Blind Stock Valuation Podcast, I start by explaining how the podcast works: I post stock information – mostly historical financial data, but also a quick description of the business – without the stock name. You try your best to value the stock. You send in your appraisal. I share you appraisal with listeners. I then talk about how the market actually valued the company and what happened to the stock from that point on.

The subject of episode one is Addressograph-Multigraph as of 1966. I talk about why the P/E ratio on the stock was higher than blog readers estimated it would be. A little time is spent comparing Addressograph to Xerox (XRX). I recommend Jim Collins’s “Good to Great” in which Addressograph is used as the comparison company for Pitney Bowes (PBI). Finally, I talk about how Pitney Bowes survived to this day while Addressograph filed for Chapter 11 within about 15 years of this 1966 snapshot.  

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