TCL 0.15% $12.95 transurban group

Ann: Transurban Investor Presentation, page-10

  1. 34 Posts.
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    Aside from the leverage effect on yield, is anyone concerned with the interest coverage ratio that TCL's statements seem to imply? The numbers as far as I can tell - interest $362-377M, EBIT $539M, FCF $582 - seem to imply a pretty thin margin there. Is that a reason for concern or is it normal for such a capital intensive business with highly reliable cash flows?
 
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