CPSE:ISSCommercial Services
ISS (CPSE:ISS) Faces Margin Questions Despite Strong Contract Momentum
The market had ISS sitting quietly at DKK285 going into these H1 numbers, with the stock barely moving over the past week. The earnings story is louder than the price action. Revenue for the trailing twelve months stands at DKK87.8b and net income is DKK2.8b, which keeps the net margin at about 3.2%. The key tension is that investors see a facilities services business with modest profitability and a high debt load, yet trading on a P/E of 16x while peers trade on much higher multiples. That...