ET operates as a video and infrastructure solution for broadcast and telecommunication markets. ET is now trading at 15.5x times' Forward P/E. In the last five years, growth has not been great, only 1% on average. In the recent quarter, revenue in fact declined, by around -8%. The balance sheet is strong, with net debt of $33M. Total debt is around 0.7x times trailing twelve-month cash flow of $49M, and cash flow also declined around -28% compared to $49M last year. Based on consensus estimates, sales are expected to remain flat in 2023 and normalize to around 6% in the next few years. Overall, the growth prospect does not seem too impressive. We think there are better opportunities in the current market. We think it is OK, and it is priced well, but would not own it for growth.
5i Research Answer: