SP after 1/2 yearly results will be an interesting data point, but the long-term is the real game. Tyro has a proven L-T trajectory of 25% CAGR. (see below from RBA published stats) Even with the worst of COVID they managed to post 10% growth in FY20. They publish their weekly transaction volumes, which pretty much equate to their revenue numbers. This type of growth stock should conservatively be trading at 8x revenue. We know that they're currently posting 15% monthly growth rate again, but the COVID and terminal connectivity drag has left the YTD growth rate at 10%. So add 10% to the FY20 results and you get about $223M revenue. 8x that gives an E.V of $1.7B and a share price of over $3.50 by the end of FY21. In FY22, they'll be back to their usual 25% growth rate.
TYR Price at posting:
$2.64 Sentiment: Buy Disclosure: Held
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