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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (63565)	3/27/2020 7:38:18 PM
From: Nya_Quy	Read Replies (1) \| Respond to of 78783

I took a quick look at WKL: I like the growing unlevered FCF the company is generating. A quick and dirty resulted in my case in an EV/FCF=€18bln/€800 mln =22.5x: meh, at least when we use current unlevered FCFs. Perhaps the growth rate is solid enough as to render the current price at least reasonable with respect to a conservatively estimated future value. Note also that some large buybacks have been performed for a total of €900 mln the last two FYs: was that really the best use of cash given that the share price at that time was close to the all-time-high of last FY? I am also interested in the fact that the total cash outflows for dividend payments keeps increasing, while at the same time the company is buying back their own shares quite expensively. I would say: make a choice. -- Nya --