TPG Telecom Ltd Ordinary Shares

TPG: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$6.30	Ftjn	Pyvqxbyl

Compositionally Underwhelming but Not Enough To Infect Our Intrinsic View of TPG Telecom

Brian Han

Feb 25, 2021

While the 10% fall in TPG Telecom's 2020 full-year pro forma EBITDA to AUD 1,789 million was just 2% higher than our estimate, it was compositionally a little underwhelming.

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