While Telstra Crunches Numbers on Another NBN Curveball, We Present Our Own Preliminary View
Our initial view is that NBN's decision to delay the rollout of hybrid fibre coaxial, or HFC, into new areas and temporarily cease its sales is unlikely to have a material impact on our AUD 4.60 fair value estimate for Telstra.It cuts the narrow moat-rated group's fiscal 2018 EBITDA by an estimated AUD 495 million due to lower NBN compensation receipts linked to HFC activation and rollout. However, this is a timing issue as there is no change to NBN's long-term goal of connecting three million ...
Telstra is engaged in providing telecommunications and information services for domestic and international customers. Co.'s operating segments are Telstra Retail, Global Enterprise and Services, Telstra Operations, and Telstra Wholesale. As of June 30 2016, Co. provided retail fixed data services to 3.4 million customers, retail fixed voice services to 5.7 million and domestic retail mobile services to 17.2 million customers.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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