TSX:IBG.DB.E - Post by User
Post by
Calgaryrideron May 09, 2020 1:30am
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Post# 31006267
Officially the best marginsnin the industry!
Officially the best marginsnin the industry!If IBI chose to exclude the impact of IFRS 16, consistent with many industry peers, adjusted EBITDA would have been $14 million or 14.5%. Industry leading.
Stantec and WSP, who have margins between 12-14% trade at 1.3 to 1.4 X Sales.
IBI? Yep, 0.3 X Sales.
You might argue that they have a little bit more debt at 2xEBItda (WSP and Stantec at 1.1 or 1.2 x EBitdA), but that still means IBI is valued at only 1/3 to 1/2 of where it should be. As in, it should be a $8 to 12 stock.
For some context, Shopify is trading at about 30 x Sales. So, 300 times the valuation of IBI.....you know, if you care about money and all..... crazy market.
Good luck, longs.