Yes.
The reason why the PE is so high is that EPS is greatly influenced by high depreciation costs which come off operating profits and then are added back to complete the cashflow statement. The distributions are covered by FCF. That is all that matters.
TCL weathered the GFC and its model was tweaked so that FCF covered the distributions.
TCL Price at posting:
$9.15 Sentiment: Hold Disclosure: Held
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