IDT Corporation
Thesis
IDT is a small cap conglomerate that has successfully used cash flows from its telecom business to incubate and spin off other businesses, leading to significant value creation. The company has compounded value per share in excess of 20% over the last decade, and its National Retail Solutions (NRS) business, which has high margins and rapid growth, is expected to be spun off, providing further upside for investors at current prices.
Did it work?
No price performance data is available and the time elapsed since the pitch is unknown, so the return component of the thesis cannot be evaluated. The central catalyst — the spinoff of National Retail Solutions — cannot be confirmed as having occurred, and the broader claim of continued 20%+ per-share compounding also cannot be verified without data. With neither the price outcome nor the thesis events verifiable, there is insufficient evidence to judge the pitch.