Sky Network Television Ltd
SKT: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$1.10 | Grhdk | Ndqbjpzrm |
Sky Network Television Earnings: Flashing Neon Signs on Streaming
We trim our fair value estimate for Sky by 3% to NZD 2.90 per share or AUD 2.60 at current exchange rates. While fiscal 2024 EBITDA grew 3% to NZD 153 million, it was at the bottom of the NZD 150 million-NZD 165 million guidance and missed our expectations by 4%. Such a narrow miss would not ordinarily result in a change to our intrinsic assessment. However, the subdued quality of the result, coming at a critical juncture in Sky's transformation, warrants a revision.