Invesco Water Resources ETF T.PHO

Primary Symbol: PHO

The investment seeks to track the investment results (before fees and expenses) of the NASDAQ OMX US Water IndexSM (the underlying index). The fund generally will invest at least 90% of its total assets in the securities that comprise the underlying index. The underlying index seeks to track the performance of companies that create products designed to conserve and purify water for homes, businesses and industries. The underlying index may include common stocks, ordinary shares, American depositary receipts (ADRs), shares of beneficial interest and tracking stocks. The fund is non-diversified.

NDAQ:PHO - Post by User

Invesco Water Resources ETF > Floor Value

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Post by Altman1979on Nov 14, 2018 1:30pm

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Post# 28973821

Floor Value

Interesting that PHO is trading below a floor value of $1.20. GMP analyst assumptions:
40 cents cash
$40M in sales next yr @ 29% EBITDA margin @ 7 multiple = 80 cents
80cents + 40cents = $1.20

We all have our own estimates but his assumptions of 29% EBITDA margin by 2019 are pretty conservative sinc emgmt is guiding to more nirmalized levels by yr end 2019. In any case, this is what the street thinks.

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