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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Thanks for this update. For what it is worth @Transversal as I...
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Last
$12.52 |
Change
-0.230(1.80%) |
Mkt cap ! $38.71B |
Open | High | Low | Value | Volume |
$12.72 | $12.76 | $12.49 | $71.68M | 5.709M |
Buyers (Bids)
No. | Vol. | Price($) |
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6 | 168899 | $12.51 |
Sellers (Offers)
Price($) | Vol. | No. |
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$12.52 | 28862 | 3 |
View Market Depth
No. | Vol. | Price($) |
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1 | 10000 | 12.510 |
1 | 150 | 12.490 |
3 | 2260 | 12.480 |
1 | 9550 | 12.470 |
2 | 30238 | 12.460 |
Price($) | Vol. | No. |
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12.520 | 28862 | 3 |
12.530 | 10000 | 1 |
12.550 | 2010 | 3 |
12.560 | 9750 | 2 |
12.570 | 9850 | 2 |
Last trade - 16.10pm 14/05/2024 (20 minute delay) ? |
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Last
$12.50 |
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Change
-0.230 ( 1.94 %) |
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Open | High | Low | Volume | ||
$12.73 | $12.75 | $12.49 | 412324 | ||
Last updated 15.59pm 14/05/2024 ? |
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