ID 108949137 © Komgrit Pradissagul |

A firm’s corporate story is one thing, but its stock story is entirely different: seldom has this been more relevant than with New Zealand’s Mainfreight (MFT), a crown jewel in the T&L arena.

Fair point?

I certainly think so.

Briefly: trading at between 1.4x (trough) and 2x (ceiling, fiscal 2021) EV/revenues in the fiscal 2020-22 period, MFT’s EV/Ebitda multiples ranged between 10.7x and 15x in the past three fiscal years, according to S&P Global Market Intelligence.

(EV = enterprise value. Its fiscal year runs ...

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