Today its trading around 4-5x Revenue that’s really richly valued or fairly valued. At this multiple for example, fast food companies trade in India.
PPL is not trading at 4-5x sales multiple, its trading at 3.2x TTM sales multiple. Considering the quality of businesses they own and the high barriers to entry in each business segment, a 3x Sales multiple is quite reasonable in my view.
Disc: Invested and adding.
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