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Evertz Technologies Ltd T.ET

Alternate Symbol(s):  EVTZF

Evertz Technologies Limited is a Canada-based company. The Company designs, manufactures and markets video and audio infrastructure solutions for the television, telecommunications and new-media industries. The Company’s solutions are purchased by content creators, broadcasters, specialty channels and television service providers to support their increasingly complex multi-channel digital, and high and ultra-high-definition television (HDTV and UHD) and next generation high bandwidth low latency Internet protocol (IP) network environments and by telecommunications and new-media companies. The Company’s products provide signal routing, distribution, monitoring and management of content, as well as the automation and orchestration of more streamlined and agile workflow processes on premise and in the Cloud. The Company also offers a complete end to end solution for scalable, flexible, and dynamically controlled media transport networks for video, audio and data signals.


TSX:ET - Post by User

Comment by logicandinertiaon Sep 19, 2023 12:05pm
217 Views
Post# 35643532

RE:Trevor Rose's Insights - Don't BUY

RE:Trevor Rose's Insights - Don't BUY

very simplistic analysis from whichever kid at 5i wrote that report.

Evertz is going thru a transition in its customer base while maintaining financial strength.  Here is what I mean:


From fiscal 2018 to the expected FY24 level, free cash flow has totalled $543 million, versus reported net income of $447.3 million in that same time frame.  121 percent of net income converted to free cash. This is excellent .

Approx $519 million has been distributed back to shareholders in the form of dividends.

the company has also spent $701 million in R&D , far exceeding its peer group.   If anything, Evertz technical lead in many areas is expanding.  The company doesn't expand into lower margin product segments just to grow top line, knowing that would dilute their strengths .

The target market is changing, as traditional call sign stations decline and spend less while new entrants (Apple, Amazon, DAZN, various online services) emerge and offset the decline of the traditional stations .    Hence why overall revenues haven't grown much during this period,    

The demands and technical require,ents of these newer entrants would seemingly be an advantage for Evertz, who are known for their technical excellence and breadth of product catalog.

Evertz is a very good business that has returned cash back to shareholders while continu8ng to fund new product development at a record pace.    

 

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