6 Comentarios
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Avatar de Co-Business-Owner

What do you think about their most recent warning on lower activity next year?

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Avatar de Mexican Investor

That was a possibility. Although is bad because it means that the business isn't resilient enough.

The thing is that after the last -35% the stock is now trading at 20 LTM PER and if growth returns, it could be quite reasonably priced.

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Avatar de Co-Business-Owner

For sure some cyclical dependence on network R&D spend. I get more to a PE of 17x Trailing, even cheaper on an EV basis. Let's see what they report in May.

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Avatar de Luis Fernandez-Izquierdo

Excelente trabajo 👏. En esta línea hay otra empresa de UK igualmente interesante, Spirent Communications, también de medidas y testeo.

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Avatar de Mexican Investor

No conocía a Spirent, gracias por la recomendación! Me vendrá bien para compararla con Calnex

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Avatar de Co-Business-Owner

Thank you. Great write-up. I like it.

What do you think about the large dependency on Spirent distribution? Do you think Spirent could also be a competitor?

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