It depends on the actual revenue in 2nd half and where margins normalize in 2025. They still believe margins will get above 15% and revenues will eventually grow. So I think right now 1x revenue is maybe fair. Long term...12x EBITDA or about a 8-10% FCF yield. We will see how Q4 and 2025 shape out
so where does this leave us in terms of valuation? thank you
It depends on the actual revenue in 2nd half and where margins normalize in 2025. They still believe margins will get above 15% and revenues will eventually grow. So I think right now 1x revenue is maybe fair. Long term...12x EBITDA or about a 8-10% FCF yield. We will see how Q4 and 2025 shape out