I know they are different businesses with different moving parts but TPW compared to MYR is 23 times more expensive on a market cap to online sales ratio.
TPW 1.65b market cap / 176m online sales = 9.5 MYR 165m market cap / 422m online sales = 0.4
You would think there is latent value in there somewhere when doing 2.5x the sales yet having 1/10th of the market cap.
The issue is they have over $1B in lease liabilities and $300 in payables (primarily to fund inventory) which dwarfs the $78m in debt.
So it is doubtful to me another entity would take on that risk.
The average lease contract by my figures runs another 5 years.
I'd be interested in more detail about the activist shareholders strategy to turn it around.
MYR Price at posting:
21.5¢ Sentiment: Hold Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)