And still, the cash juggernaut rolls on. Investors award SingTel a higher forward price/earnings ratio than the global industry average (13 versus 12) partly for that reason. That seems fair, but quite enough while investors wait to gauge the depth of this slowdown and what SingTel does with the cash.
尽管如此,现金流巨轮继续转动。投资者将新加坡电信股价推向更高的预期市盈率,超过全球行业平均水平(13比12),部分缘于此因素。这看起来是公平的,但在投资者评估这轮放缓的深度以及新加坡电信对现金的利用之际,这样的市盈率够高了。
Lex专栏是由FT评论家联合撰写的短评,对全球经济与商业进行精辟分析
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