t. Over 70% of Ting customers come from a carrier other than Sprint, so they bring in additional revenue to Sprint (my understanding is that Ting pays Sprint for service/bandwidth, so the more Ting makes, the more Sprint makes as well). The remaining amount are actually Sprint customers who leave Sprint due to dissatisfaction and then are scooped back up by Ting. Ting has stated that Sprint actually makes more money if a customer is on Ting compared to their own business, because Ting is so much more efficient around customer acquisition and customer support costs.
Back to the overall business. I also wanted to mention that TCX is a Canadian based company, and so far only has Canadian sell side coverage. As such, I believe that it is under most of Wall Street's radar. coverage and get the Ting story out to the public, the company could really see a boost in interest and investors. It's interesting to note that Ting actually does not operate in Canada the Canadian wireless industry is full of collusion which is hampering canada goose outlet Ting from ever taking off.
Lastly, I want to mention that TCX generates good FCF that should continue to increase as Ting becomes more and more accretive. The company currently yields 5% FCF, and also has a net cash position of $6m, or $0.50/share. Even with the organic canada goose boxing day rollout of Ting, the company does canada goose women parkas clearance for black not spend very much on capex. Furthermore, TCX has recently announced canada goose 70% off a $20m share buyback program, which at current levels should take approximately 15% of shares outstanding off the table. canada goose women parkas clearance for black TCX does not pay a dividend, and is not expected to, as its shareholder base is largely Canadian and subject to detrimental dividend tax rates.
ValuationI provide three scenarios for valuing TCX. Hover and the Wholesale Domain tend to be more stable businesses, so my valuation assumptions don't vary wildly. I'm going to assume negative 10% growth for their portfolio segment in all scenarios(I haven't discussed this because it is a very small and declining segment of the business, less than 10% of rev
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