Balance Sheets, Retail Risks & Small‑Cap Lessons | Under The Radar

Balance Sheets, Retail Risks & Small‑Cap Lessons | Under The Radar

April 22, 2026 · 37 min · Season 1 · Episode 457

About this episode

Richard Hemming discusses the importance of balance sheets and quality metrics in small-cap investing.

In this episode, Richard Hemming from Under the Radar Report returns to break down what “quality” really means in small‑cap investing, and why the balance sheet is the first place he looks. We cover: • How to define quality in a small‑cap company • Why free cash flow matters more than profit • The key metric: Net Debt / EBITDA • Why retailers can be both exciting and dangerous • Case studies: Myer, KMD Brands, Kogan, Clover, Tuas, Amplitude Energy Episode Blog Post: https://www.sharesforbeginners.com/blog/under-the-radar-quality 📈 CHECK OUT THE UNDER THE RADAR REPORT :  Find Tomorrow’s Market Winners Today  Under the Radar Report uncovers quality small caps  before they hit the headlines . Save 10% with promo code  SFB . Disclosure: The links provided are affiliate links. I will be paid a commission if you use this link to make a purchase. You will receive a discount by using these links/coupon codes. I only recommend products and services that I use and trust myself or where I have interviewed and/or met the founders and have assured myself that they’re offering something of value. Shares for Beginners is a production of Finpods Pty Ltd. The advice shared on…

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