Despite disruptions from COVID-19 Cleanaway reported an underlying EBITDA of $516m, up 12% on the same time last year.
FY21 EPS growth is forecast to increase by 2 – 3%, placing the stock on a forward yield of 1.8%.
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The valuation is looking expensive at 30x earnings, however, the defensive exposure remains attractive in a low yield environment and the balance sheet is in good shape.
