Here is a tip to valuing TCL...
look at traffic volumes for all the motorways as per the asx announcements. Multiply them by the toll prices.
Apply a 2% CPI growth to prices and a 2.5% average compound traffic growth rate.
Each motorway is like a bond in that the concession period is locked in.
Use a 7% WACC
When I did this a while back i valued the Company at $9.50.
However that didnt include Northconnex or the Westconnex.
This is not like SGH, where the assets are intangible and the market competitive.
These are tangible infrastructure assets and they have a monopoly.
Here is a tip to valuing TCL... look at traffic volumes for all...
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Last
$12.77 |
Change
-0.020(0.16%) |
Mkt cap ! $39.48B | |||
| Open | High | Low | Value | Volume |
| $12.73 | $12.77 | $12.64 | $39.03M | 3.066M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 14397 | $12.76 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $12.77 | 11667 | 1 |
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| Last trade - 16.10pm 30/07/2024 (20 minute delay) ? |
| TCL (ASX) Chart |