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
$12.32 |
Change
-0.050(0.40%) |
Mkt cap ! $37.94B |
Open | High | Low | Value | Volume |
$12.23 | $12.34 | $12.22 | $11.29M | 919.5K |
Buyers (Bids)
No. | Vol. | Price($) |
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36 | 5296 | $12.32 |
Sellers (Offers)
Price($) | Vol. | No. |
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$12.33 | 6252 | 39 |
View Market Depth
No. | Vol. | Price($) |
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23 | 1189 | 12.320 |
20 | 11124 | 12.310 |
18 | 12314 | 12.300 |
17 | 19467 | 12.290 |
16 | 23758 | 12.280 |
Price($) | Vol. | No. |
---|---|---|
12.330 | 10917 | 48 |
12.340 | 16539 | 30 |
12.350 | 16370 | 24 |
12.360 | 14651 | 17 |
12.370 | 16016 | 7 |
Last trade - 13.00pm 30/05/2024 (20 minute delay) ? |
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Last
$12.33 |
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Change
-0.050 ( 0.27 %) |
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Open | High | Low | Volume | ||
$12.23 | $12.34 | $12.22 | 254361 | ||
Last updated 13.19pm 30/05/2024 ? |
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