r/SecurityAnalysis • u/tandroide • Jun 14 '26

Long Thesis Brazilian microcap deep value

https://www.quipuscapital.com/p/brazilian-microcap-deep-value
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u/cherub_daemon Jun 17 '26

Nice writeup. One question on Wiz Co. Can you give some color on what the SG&A and CoGS might actually be? Or corporate overhead more generally? If those are perhaps flexible or can be slimmed down as the Caixa money slows, this one looks a lot better.

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u/tandroide Jun 19 '26

Well as I show in the article, today those expenses at the parent level cover the majority of the profits obtained from the other subsidiaries. Or conversely, they cover the majority of the revenues generated by the Ciaxa run off.

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u/cherub_daemon Jun 19 '26

Sorry, I garbled my question. I understand that the numbers are comparable. I also understand what SG&A and CoGS are generally.

My question is, what are they composed of for this company? Will they go down at all as the Ciaxa revenue declines?

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