Hey winner, BWX doing its best to narrow the value gap getting close to with a 3 in front of sp.
We tht BWX will be the catalyst to push TIL up in value but looks like its doing the opposite.
Gap 15% from TIL to BWX on guided ebitda multiples
Gap doesn't seem to change that much
Maybe we have to expect there will always be a gap - Australian companies generally valued higher than NZ ones, home country bias, BWX seen as a better long prospect or whatever
Last edited by winner69; 07-11-2016 at 04:32 PM.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
Here is how the 'valuation gap' has changed over the last month or so
Todays fall closed the gap to 15% (TIL underpriced relative to BWX on ebitda multiples)
The biggest impact has been that TIL has had a shock(?) profit downgrade whereas BWX have stuck with their guidance.
This is in addition to other reasons I stated why we may have to live with TIL being undervalued relative to BWX - Australian companies generally valued higher than NZ ones, home country bias, BWX seen as a better long prospect or whatever else
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
Winner not much upside factored into the current share price however as you mention negative result could send this lower again with the recent price query I don't think the results a standout or a stinker ....
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