DASHBOARD: Digital infrastructure valuation comps for November 2024
- Publisher : Venture Insights
- Publish Date : December 1, 2024
This Digital Infrastructure Valuation report provides a comprehensive analysis of key financial metrics for digital infrastructure stocks listed in Australia, New Zealand, and the broader regional market. It includes detailed visualisations of monthly and annual share price movements, key earnings multiples, and forward earnings multiples compared to forward growth estimates. Additionally, it tracks share price trends over the past twelve months, offering valuable insights for market participants.
Figure 1: Digital infrastructure share price changes November 2024
Source: Firehawk
Key developments
Overall, most listed digital infrastructure stocks in the region are up over the last year, but with wide spreads in performance among the group. Growth in cloud and AI is improving sentiment towards DC stocks, but economic growth is expected to be sluggish relative to previous years, creating uncertain performance for other Digital Infrastructure equities.
Global Data Centre
Global Data Centre’s stock has fallen by 37.3% in the last month, after the ASX officially suspended the company’s securities from quotation on 20 November, after a notice period elapsed. The decision came after the ASX deemed the company to have insufficient level of operations to continue to be on the exchange, this is following Global Data Centres disposal of ETIX Everywhere in May 2024 and the disposal of its investment in AirTrunk in September 2024. The company confirmed that all available proceeds from its divestments will be distributed to unitholders by the end of November 2024.
Adisyn
Adisyn’s stock dropped by 18.1% over the last month, as the company confirmed on 4 November that it has entered into a binding agreement to acquire 2D Generation, a semiconductor IP business which provides solutions for “next generation of generative AI” for the company’s target markets including “defence applications, data centres and cybersecurity”. The company raised $3m of capital to help fund the acquisition. 2D Generations specific solution allows graphene coating at sub-300 degrees centigrade, “an achievement that has never been successfully completed before. This opens the door to the next generation of semiconductors capable of further miniaturisation, lower power consumption, less heat and greater computational power.”
DigitalBridge
DigitalBridge’s stock fell 2.3% over the last month, with the company announcing its third quarter 2024 financial results early in November. The results entailed a 42% increase in Fee Related Earnings year on year, from US$18.4m to US$26.2m while Distributable Earnings declined by 67% year on year from US$32.6m to US$10.7m. The company recently announced a string of deals in October including its investment in DataBank’s US$2b raise, its 75% acquisition and take-private of JTOWER for ~AUD$700m, and its agreement to acquire Yondr Group.
Figure 2: Digital infrastructure valuation multiples November 2024
Source: Firehawk
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