Monthly Australian TMT Wrap: March 2019

Report Overview

Monthly Australian TMT Wrap: March 2019

Already a Subscriber? Login here to view Full Report

Monthly Australian TMT Wrap: March 2019
The number of announced transactions in March is low relative to February
A number of companies raised capital for a range of purposes, which were well received by the market
The volatility in Lyft’s share price post listing has shown that the market has struggled to price Lyft due to a lack of comparable listed companies in similar sector

Contents

Key Takeaways

Monthly Wrap: March 2019

  • Key takeaway
  • Lyft lists on the NASDAQ making it the first of many highly anticipated IPOs in 2019
  • How has Lyft traded since IPO? Lyft priced at $72 per share, pops to $87 per share on opening day then retreats
  • Fundamentally valuing a company in a new industry
  • Valuation vs pricing
  • Telecommunications sector highlights
  • Media sector highlights
  • Technology sector highlights

List of charts/tables

Figure 1. Comparable companies operating metrics and multiples

Figure 2. Lyft’s derived pricing from available comparable metric

Figure 3. The five best and worst performers for March 2019

Figure 4. Forward EV / EBITDA Multiples Chart for leading telco stocks at the end of the month

Figure 5. The five best and worst performers for March 2019

Figure 6. Forward EV / EBITDA Multiples Chart for leading media stocks at the end of the month

Figure 7. The five best and worst performers for March 2019

Figure 8. Forward EV / EBITDA Multiples for leading technology stocks at the end of the month