Wondering if these two companies are moving along on much the same pathway as CSU was in its infancy, wrt valuation metrics, trading volumes, share price, market cap etc?
Also why is LMN trading twice as many shares per day then TOI given TOI market cap is 8x LMN? Is it more well known even this early? Why is the volume so low?
Thanks
Jeff
CSU had a market cap of ~$400M when it started trading in 2006, conversely, LMN began trading with a market cap ~$800M and TOI with a market cap of €1.7B (roughly $2.5B CAD). CSU started trading with a share price ~$17, TOI ~$65, LMN ~$16. At inception, CSU had a P/S of ~2X, a trailing P/E of 46X, TOI has grown its P/E from ~70X to now 103X, and its P/S from 3X to ~6X. LMN's P/S has stayed flat around 3X. CSU now has a trailing P/E of 85X and a P/S of 5.5X. Overall, we feel that the market is treating LMN and TOI similarly to the current day value of CSU, rather than how it has evolved over the years.
TOI is $107 and trades ~27K shares per day, whereas LMN is $21 and trades ~45K shares per day. The total daily value traded is still higher for TOI, but the difference in share price between the two is mostly the reason why LMN's volume is higher.