SWX:PMNElectrical
Phoenix Mecano (SWX:PMN) Stock Looks Cheap After Margin Led Profit Jump
Phoenix Mecano stock closed at CHF443 today, only slightly above where it was trading a month ago, even after investors digested fresh half year numbers. The headline from these results is not the modest revenue move. It is the sharp jump in operating profitability, with earnings before interest and tax up 23.5% on the back of stronger margins in the industrial units.
Over a longer horizon the story shifts to valuation. The stock trades on a trailing P/E of 14x, while peers sit much higher...