Thanks for this update. For what it is worth @Transversal as I note you also hold SYD. How do you think the relative value of TCL stacks up compared with Sydney Airports?
@Galba
On a 2-year forward basis, I estimate that both TCL and SYD are presently trading, roughly, at a 19.0-19.5x EV/EBITDA multiple.
Given that, on a constant-asset basis, the revenue growth prospects for the two enterprises are similar (as they essentially consist of traffic growth compounded by CPI inflation), I do not see any obvious relative value between the two, from a pure valuation perspective and at their current prices.
That said, I do have an overall preference for TCL’s business model, for (among other things) the reasons listed here: https://hotcopper.com.au/posts/32523823/single
So, if I had to pick one as of today, that would be TCL.
But, again, that’s just me.
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Last
$12.37 |
Change
-0.190(1.51%) |
Mkt cap ! $38.25B |
Open | High | Low | Value | Volume |
$12.37 | $12.49 | $12.28 | $59.48M | 4.808M |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 455 | $12.37 |
Sellers (Offers)
Price($) | Vol. | No. |
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$12.38 | 94041 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 2361 | 12.360 |
2 | 1194 | 12.350 |
6 | 15578 | 12.340 |
4 | 4230 | 12.330 |
1 | 14612 | 12.320 |
Price($) | Vol. | No. |
---|---|---|
12.380 | 13420 | 3 |
12.390 | 500 | 1 |
12.400 | 4590 | 4 |
12.410 | 14612 | 1 |
12.420 | 14612 | 1 |
Last trade - 16.10pm 29/05/2024 (20 minute delay) ? |
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Last
$12.37 |
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Change
-0.190 ( 1.86 %) |
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Open | High | Low | Volume | ||
$12.40 | $12.49 | $12.28 | 971895 | ||
Last updated 16.10pm 29/05/2024 ? |
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