13. Colin King on NCR Atleos, Aumovio, and Solstice

During this episode of SSOI podcast, I spoke with Colin Kingof Circle City Capital. Colin runs Value Don’t Lie where heshares his highest conviction ideas. In this episode, Colin and I discuss NCR Atleos Corporation (NATL), Aumovio SE (AMVO), and Solstice (SOLS),Here’s what we discussed:3:00 Why Colin thinks NATL isinteresting.6:30 Why Colin loves charts thatshow growing earnings but a flat stock chart.6:50 What the next big catalyst isfor NATL.8:00 Brief description of EuronetWorldwide (EEFT) and why it also looks interesting.9:00 Discussion of NATL’s leverageprofile.11:00 How big could ATMaaS get?12:30 Is revenue and earnings growthsustainable?14:45 NATL’ s buyback plan.15:50 NATL’s 2026 free cash flowpotential.17:15 Why does Colin think Aumoviois interesting?18:30 Aumovio’s balance sheet is adifferentiator.20:40 Discussion of Aumovio’spension liabilities.22:50 Margin growth potential forAumovio.24:30 The upside to Aumovio’smoney losing segments.26:30 What is interesting aboutHoneywell’s upcoming spin-off, Solstice (SOLS)29:00 The capital intensity ofSolstice’s business.32:00 Why I think Solstice’sEBITDA guidance might be conservative.37:50 What Colin and I thinkSolstice is worth.41:00 Does Honeywell (HON) RemainColook attractive?44:30 Where you can find moreabout Colin.