cashflow / dividend multiple comparison
Some interesting company comparisons being posted - thanks.
I would disagree on trying to compare a company solely on dividend. I would view cashflow as a better comparison as this gives a true picture of the potential.
For new streams Marlin will need to raise money whereas most other royalty companies (in part) retain some of their cashflow to assist with purchasing new assets.
Therefore I would compare based on cashflow but there maybe a premium multiple for the higher dividend - depending on how this affects people i.e tax implications