2024-02-26 04:42:03 ET
Summary
- Traditional Communication continues to maintain EBITDA margin at 7.8%.
- NRS continues to onboard more merchants and has seen a recovery in ad revenue, leading to improved profitability.
- BOSS Money is experiencing strong operational growth but delaying profitability as it expands its retail agent network.
- Net2Phone margin expansion continues, showing self-sustainability.
- My SOTP valuation shows IDT stock is reasonably valued, and will rate it as a hold.
Investment Thesis
The main thesis surrounding IDT Corporation (IDT) are the potential spin-offs of its 3 high-margin, fast-growing businesses – NRS, BOSS Money, and Net2Phone (N2P). The spin-offs are, however, delayed until the market conditions improve, and an appropriate multiple can be obtained....
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For further details see:
IDT Corporation: Building Strong Momentum Into FY24