Equity Strategy - WACC Review; a Lower Rfr and Adding C&ESG
For the first time in three years we are moving our WACC assumptions down. This is driven by a modestly lower (-25 bps) interpolated 10-year...
415 Views
Transport Trends - Where's the Freight, Mate?
Imports into New Zealand have slumped over 2023 as supply chain destocking has compounded slowing domestic consumption. The latter has softened...
523 Views
Regulated Companies - The Relevance of RAB Multiples
RAB multiples (enterprise value divided by regulatory asset base) provide a useful means of valuing and sense checking valuations for regulated...
585 Views
Transport Trends: Bare Feeling From De-Stocking
The transport industry's road to normalisation, after the disruption of the past three years, is increasingly being influenced by the deteriorating...
350 Views
Transport Trends: Nothing Normal About the Normalising
The industry is normalising, but from different angles and at a different rates: Abnormal gains in international freight are unwinding rapidly,...
680 Views