I'm somewhere in between Veecat & Ralom on this one. Anyone...

I'm somewhere in between Veecat & Ralom on this one. Anyone following the broader listed drilling contractor space will know that VYS's EV/EBITDA doesn't see it as the screaming bargain some are making it out to be. And too early to start talking about valuing based on FY22 numbers ..... we won't even see FY21 numbers until August/September.
In terms of the 'verticals', i think the 'story' will be more enhanced than the bottom line if they move too early. And its the bottom line that sets the SP in the longer term. So i think management has nailed it by focusing on realising the earnings from the existing assets in their core business. No point moving too soon and acquiring a small bit player ..... that is one step above an organic growth strategy.
VYS's current core services are in high demand and they have remaining capacity so its a good medium term story here without the need to lose cred by pumping it.