Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Hands up who sold Jet2 a few days ago at 895 to top up here?……..feck, feck, feck :-(
Dan
As i have always said , I believe in the Company but you know my thoughts on Read .
I bought £20 k
Mike
Accolade again goes to star champion
" FredRubble"
Well done closing Sp 92.64p
Speech Speech Fred on the your Vod vision
Full list will follow
Soton, can i get back to you on that one in six months time mate, wish me luck lol
79p/debt
Mulder. Where do you get the B.T. debt to equity ratio of 3.3. from. The only figure I can find is 1.156 on the 30 sept 2022.
I can’t believe how low this has gone
Has anyone got a Bottom prediction in mind and why ?
Second that Rob...Has been very trying of late.....See you did well to get in at 91p.....
I expect most people on here are thinking the same thing Dan
Mikey. I have just read your post, bought at 90p How many more more did you buy? one? Only joking mate, good luck. You don't have to mad to buy vod' shares, but if you are, it helps!
So Mary as a F.T. F.C.A. is it compulsory to talk in riddles as many accountants do? As opposed to just saying what you mean in the first place?
' I could see them taking legal action if a merger was waived through'
I think they take legal action as a matter of course and to get a remedy. All those high street zombie shop fronts need consolidating and rebranding now you can buy online. I cant remember the last time I went into a phone shop. When I think 3, I think 5...their job as a 'new entrant' disruptor is done and we now have the consumer mobile internet. Next phase could be eg making Hutch ports Smarter and need VOD UK. That would be a big account and attract FDI. Win Win for UK PLC imo
"I will continue to add if it goes sub 90p"
Well done for achieving your 90p buy yesterday, I was dubious it would dip that far. I suspect the broker/dealers had a lot of 90p buy orders and helped the stock dip to meet the orders, so they could benefit from the dealing charges, but that's just my suspicious nature lol.
Historically this is a crazy price for VOD - the share was trading at 136p when covid was announced and we had no vaccine and no prospect of a vaccine - that is around 30pct higher than the share price today, admittedly since then we have had Brexit and the war in Ukraine which has taken its toll on economic growth but one has to be realistic here - is it really worse for VOD than it was then? - I will continue to add if it goes sub 90p
gla dyor etc
One thing I forgot to say about 3 is that they are heavily in sectors that VOD dont bother with such as area mobile data for smartmeters, smart bus stops, wireless telemetry for all sorts of wierd remote apps, in-car wireless data etc etc. This is a growing market and 3 are possibly one of the leaders in the UK
"Knowing telecoms and both 3 and VOD I think this analysis is very valid. A merger of these 2 is a mutually brilliant idea. 3 struggles to scale and control its back office cost base, while VOD could use the extra market share and sector share."
I can see the advantages for Vodafone and 3 merging, but the regulatory hurdles for such a merger will be massive. 3 and Vodafone are both mobile providers, so both providing the same service in competition with each other. BT's takeover of EE and the VM merger with O2 were both tie ups between fixed line and mobile companies, so different from a Vodafone/3 merger. Unless it suits BT and VMO2 to narrow the field, I could see them taking legal action if a merger was waived through, and there's a good possibility others may take legal action even if the big two don't. Weighing up the probabilities, there's more chance a Vodafone/3 merger will be blocked, rather than allowed to happen.
"Despite the good news of OPERATING Cashflow (not to be confused with FCF (Free Cashflow) being more than sufficient to meet debt repayments for both VOD AND BT - Both have terrible liquidity ratios. Terrible!
Now that does confuse the hell out of me! Tsk! How can that be?
Must be Schrodinger's Cat syndrome and all that :)"
Telecom companies are currently directing huge amounts of capex into FTTP and 5G. These are likely to be the last major Telecom infrastructure upgrades for generations. Once the current round of Capex is completed, the operating costs should be considerably lower, particularly in BT's case. I'm heavily invested in both BT and Vodafone, but I can see BT's path to growing the bottom line much more clearly, probably because BT is easier to understand, and I don't buy into the Altnet threat narrative. Although I'm confident in my Vodafone investment, I was unsure about Vodafone's takeover of Unitymedia, due to the network being Docsis based and likely requiring conversion to FTTP at some point in the future, as is the case with VMO2 in the UK .
Mary the accountant , welcome aboard ....what are the numbers saying at Vod .. atb
Love the way anyone can pretend to be whatever they want behind a keyboard lol..
anyone who bought ion the Ex date, missed the dividend.
O Danny boy...
full time (FT) Fellow member of Chartered Accountants (FCA)... Happy/ Here/ Hope To Help (HTH)
PPS, To the below post.
- Despite the good news of OPERATING Cashflow (not to be confused with FCF (Free Cashflow) being more than sufficient to meet debt repayments for both VOD AND BT - Both have terrible liquidity ratios. Terrible!
Now that does confuse the hell out of me! Tsk! How can that be?
Must be Schrodinger's Cat syndrome and all that :)
- F'king financial accountants and their above-the-line and below-the-line stuff
Hi Mulder,
Yes, hadn’t compared to others so until you pointed it out, I didn’t realise VOD had the more manageable “NET” Debt ratio; so thanks for highlighting that fact.
However . . .
- must take issue with the wildly incorrect (IMO) BT ratio; so have to ask what data supplier are you using for your debt metrics?
Or is it I, that has it all incorrect?
Is it the Morning Star website you use or somesuch (as you include a couple of US stocks for comparison?)
I used another data supplier besides my expensive subscription package data supplier and both have nowhere near the poor result you lay at BT’s door.
In fact I see quite a difference to VOD’s that you show, but your overall assertion seems to hold that VOD is the best debtor ratio of a bad bunch of debtors, so to speak. : )
Didn’t bother with the US stocks after finding BT wildly inaccurate (so inaccurate I expect you’ll be hearing from Fleccy :)
Firstly, you have to compare like with like.
And Net debt to equity can only be reasonably accepted if the very latest trading results are used. I very much doubt they all have the same H1 dates although BT’s dates are pretty close to VOD’s.
Secondly, which debt metrics did you use because they all differ vastly.
1) Did you use Long Term Debt?
- or did you include Capital Lease Obligations which can massively increase the amount to give the -
2) TOTAL Long Term Debt?
- Or more confusingly the
3) Total Debt which is higher than any of the above? ( €70B for last full year! )
[One more post coming on the weekend on that amount).
When in my view, the more pertinent debt is –
4) The NET Debt?
I see VOD as 109.44% ie., 1.09
Which is a much better performance than your 1.7
BT which you show as a terrible 3.3 I have as 130.31% ie., 1.30
So yes, VOD is still the better net debt to equity participant– but both stocks are much higher than the generally accepted 50% debt leverage point, beyond which red flags are raised on both stocks.
So both draw criticisms but BT’s red line crosses is deemed the more guilty player.
The main take-away is that despite VOD’s large net debt it is still well covered by Operating Cash Flow.
Please don’t think I know more than this post suggests. I don’t.
(I have access to data subscription packages that give me a helping hand).
PS.
Like VOD, BT’s Operating Cashflow also easily covers debt repayments.
-------------
BUT I would still like to know how you arrive at such an horrendous Net Debt to equity ratio for BT, as it’s only a little worse than VOD’s ratio.
Hello Rob, I was going to say we should agree to disagree about Nick Read, but you beat me to it. Glad you got in at 91p but I thought you would have waited until later for the ex divi day fall you predicted? Obviously the sp doesn't always fall more than the divi on ex divi day as many have suggested, (up a net 1.8p today). It often has in the past, but it's the future that's counts. Talking of Mikey, last thing I heard he was in an Ex vodafone employee downhill ski race with Narcus. I think Mikey should win easily, as he is an expert on the subject!? Cheers rob, have a good weekend.
Thank you Mary for your explanation. "Not a day trader as a FC FTA. I am HTH" What the **** is that supposed to mean? Try speaking in plain English Please? You make absolutely no sense at all. But good luck trying, you may get there one day?