Comment / Analysis: DSV vs AutoZone – where eagles dare

If I had written a column today based on the attractiveness of the information in the conference call after the record annual results released by DSV Panalpina (DSV PAN) last week, I would have stopped here.

Luckily, there is more meat on the bone when considering the huge buyback deployment and a nifty corporate parallel, although on a preliminary basis the key takeaways from the exchange between DSV PAN management and the analysts were:

a) As management acknowledged, some reported metrics (cash ...