Petroleum Geo Services PGEJF
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November 02, 2003 - 11:13pm EST by
member
| 2003 | 2004 | ||||||
| Price: | 40.00 | EPS | |||||
| Shares Out. (in M): | 0 | P/E | |||||
| Market Cap (in $M): | 800 | P/FCF | |||||
| Net Debt (in $M): | 0 | EBIT | 0 | 0 | |||
| TEV (in $M): | 0 | TEV/EBIT | |||||
Description
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| 71 | |
We have different expectations on speed, margins, and amount of capital deployed. | |
| 70 | |
You're kind of making the point for me. I still don't accept that they will have 67% to 70% EBITDA margins since this doesn't exist in any consumer facing broadband provider, but let's say at... login to read the rest | |
| 69 | |
Targeted Serviceable Addresses are now 104,000
Serviceable addresses with buildout 28,000 +24% qtr/qtr
Subscribers 7,000 +13% qtr/qtr
revenue per sub $1000 a year....we think net is $650++ at scale. What are the costs, after ripping up roads, securing... login to read the rest | |
| 68 | |
I'm sure the stock would be up if they get EBITDA per share to $12 to $15 but I don't see how they get there in an investable time horizon. The share denominator is not... login to read the rest | |
| 67 | |
"To me TCX stock looks at best like years of success are already discounted into it, at worst like a bubble. That Elliot Noss has made a lot of money in the past or that... login to read the rest | |
| 66 | |
Interesting on Union Square Ventures owenership, I had not seen that anywhere else.
You are mischaracterizing my arguments on TCX and attacking a strawman. I never said that the TCX CEO much less the CEO of... login to read the rest | |
| 65 | |
For those wondering: Union Square Ventures has $25 million TCX position (3% of TCX)
https://www.tucows.com/wp-content/uploads/2019/02/Q4-2018-QA-Transcript-.pdf
FIber is on track...some good quotes:
"As you may recall, we have set goals of a 20% take rate for addresses that are... login to read the rest | |
| 64 | |
See Slide 20 below:
https://www.businessinsider.com/the-cost-of-building-google-fiber-2013-4
https://www.quora.com/Is-Google-Fiber-making-a-profit-for-Google
"The 1G to the home vs. 100M that other ISPs do is a red herring. Whether you are creating a network that is 1G or 1M to the home, the costs are... login to read the rest | |
| 63 | |
The numbers you keep throwing out like "70% EBITDA margins, 50% cash on cash returns" are straight from fantasyland. Tucows' GM on Ting Fiber are about 60%, which more or less jibes with what NNN's... login to read the rest | |
| 62 | |
The simple issue that will likely drive shareholder value.... investing $30-40 million+ a year in Fiber with better than 50% cash on cash returns 24 months is not complicated to see this would drive a... login to read the rest | |
| 61 | |
I get that Elliott Noss has done a pretty good job, although TCX is hardly one of the greatest entreprenurial success stories of the last 20 years. Buying back stock when they had excess capital... login to read the rest | |
| 60 | |
the USV investment was about 2 years ago. | |
| 59 | |
Working capital is in part from the Fiber business's growth...which subs grew 12% qtr/qtr to 7,000.
What has propelled TCX forward is a mix of shrewd capital allocation: Internal funding of Ting Mobile, Ting Internet, eNom... login to read the rest | |
| 58 | |
I think what you are trying to say is that to get to "cash EBITDA" Elliott Noss is adding the net of the change in deferred revenue (negative $17M) and the change in prepaid domain... login to read the rest | |
| 57 | |
TCX short position continues to hang around 20% of the outstanding shares based on Copperfield (short selling report)
Copperfield is now grasping for anything....
Copperfield forgot to add back the change in Deferred Revenue for Cash EBITDA... login to read the rest | |
| 56 | |
https://www.fiercewireless.com/wireless/nation-s-largest-mvno-comes-out-support-sprint-t-mobile-merger
interesting perspective...TCX CEO also wrote a letter in support of T-Mobile/Sprint Merger.
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| 55 | |
Nice reaction today in spite of a pretty disappointing year for the stock that has done nothing but compound earnings.
Any thoughts post quarter? Can you bridge the gap from $33.4 MM in YTD EBITDA and $54... login to read the rest | |
| 53 | |
I would argue TCX domains is worth more than WEB.com valuation at 10.5x ebitda and 2.5x sales. TCX domains has revenue around $270 million with around high $30's million in EBITDA with CAPEX about 1%... login to read the rest | |
| 52 | |
behind the scenes of the bidding war for Web.com:
//www.bizjournals.com/jacksonville/news/2018/08/23/inside-the-2-2-billion-bidding-war-for-web-com.html?ana=yahoo&yptr=yahoo
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| 51 | |
Thanks, I appreciate the insight. I can't speak to TCX, but the NNI numbers don't seem crazy to me. At $130 per month ARPU, 25% EBIT margins (very high internet skew relative to CMCSA/CHTR and... login to read the rest | |
| 44 | |
I agree with your accessment...bad for cable! | |
| 42 | |
Holly Springs, NC a Ting town for 1GBPS comparison (CenturyLink in the comparison that claims they offer up to 1GBPS in Holly Springs, Charlottesville however they do not: https://shop.centurylink.com/MasterWebPortal/freeRange/shop/guidedShoppingConfig?bones#module=speeds
We have yet to find an address in... login to read the rest | |
| 40 | |
Ting Fiber is already hitting their ramp targets w/o Ting TV 20% market share in 1 year. Ting TV should really help accelerate Fiber adoption as it will allow the customer to cxl their current | |
| 39 | |
TCX Cash EBITDA $54 million ($5.00 per share) +8% yr/yr growth (10x growth last 10 years)
Ting Fiber is burning $5 million in 2018 (opex) and Ting growth CAPEX $25-30 million
Maintenance CAPEX for Domains/Mobile is less... login to read the rest | |
| 37 | |
UK company in forced liquidation....great pick up for TCX at $75 per sub!
https://www.prepaidphonenews.com/2018/07/tpo-to-sell-us-customer-base-to-ting.html
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| 36 | |
hat tip to a friend for digging this up:
Tcx wil have a new revenue stream coming this summer: Ting TV, "Ms. Giovagnoni also reported that the target launch for testing Ting TV will occur in the... login to read the rest | |
| 35 | |
I spent time catching up with the CEO of TCX at the Berkshire Annual meeting. I continue to believe to be short TCX is a tremendous mistake:
I estimate that 80%+ of the stock is owned... login to read the rest | |
| 34 | |
The core thesis of the "secret hidden lawsuit" (never heard of a publicly available "secret hidden lawsuit" but anyways) over the loss of NameCheap (which as the CEO disclosed was known and mentioned in public... login to read the rest | |
| 33 | |
We just found this write up posted yesterday on SumZero/Sribdid....that sums up the bull case:
https://www.scribd.com/document/371359229/We-believe-TCX-is-worth-90-per-share-Tucows-Is-A-Deeply-Undervalued-Company-With-Best-In-Class-Management-Assets-And-Return-On-Capital-Metrics
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| 32 | |
Looks to have been selling leading up to the release of this report and the market hasn't received it well either. They report in a month, but what are your thoughts on Copperfield's research?
Seems a... login to read the rest | |