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
$12.34 |
Change
-0.030(0.24%) |
Mkt cap ! $38.15B |
Open | High | Low | Value | Volume |
$12.23 | $12.38 | $12.22 | $32.77M | 2.660M |
Buyers (Bids)
No. | Vol. | Price($) |
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4 | 27463 | $12.33 |
Sellers (Offers)
Price($) | Vol. | No. |
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$12.34 | 23699 | 2 |
View Market Depth
No. | Vol. | Price($) |
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4 | 27463 | 12.330 |
1 | 14431 | 12.320 |
4 | 20844 | 12.310 |
7 | 22233 | 12.300 |
6 | 33013 | 12.290 |
Price($) | Vol. | No. |
---|---|---|
12.350 | 581 | 1 |
12.370 | 10000 | 1 |
12.380 | 16257 | 3 |
12.390 | 14431 | 1 |
12.400 | 20200 | 5 |
Last trade - 16.10pm 30/05/2024 (20 minute delay) ? |
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Last
$12.34 |
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Change
-0.030 ( 0.19 %) |
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Open | High | Low | Volume | ||
$12.23 | $12.37 | $12.22 | 514398 | ||
Last updated 15.59pm 30/05/2024 ? |
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