Accor Considers US IPO for Lifestyle Hotel Arm Ennismore
Accor has been speaking with advisers about the potential Ennismore listing, which would seek to value the business at several billion dollars, said the people. The Ennismore venture operates over 180 hotels under brands including The Hoxton, Mondrian, 25hours Hotels, Hyde and Morgans Originals, according to Accor's website.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
43 minutes ago
- Yahoo
Investor Bill Ackman proposes combining Fannie Mae and Freddie Mac
(Reuters) -Billionaire investor Bill Ackman in an X post on Sunday suggested merging U.S. government-sponsored enterprises Fannie Mae and Freddie Mac, suggesting the move would help reduce mortgage rates and achieve huge synergies both in their operations and in the trading price. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
an hour ago
- Forbes
While The US Is Closed To Chinese Cars, Australia's Door Is Wide Open
The US's America First policy and its high tariffs are keeping Chinese cars out of the market. Tariffs as high as 100% have been slapped on Chinese autos, especially EVs making them prohibitively expensive for American showrooms. Australia already boasts some 23 Chinese brands on its shores But while America's doors are still closed to cars from China, several countries including Russia, Mexico, Australia, Belgium, Norway and the UAE have become huge testing grounds for Chinese cars. While both Russia and Mexico currently import around 30 different car brands from China, Australia is presently hovering at around 23 brands and more are expected to arrive in the next year or so. Let us focus on Australia here as it it the closest to the US in terms of cultural origins, cultural diversity, lifestyle and language. Australia expects around 40% of all cars sold there by 2035 to be Chinese, significantly outperforming established Japanese and Koreans brands. In fact, if the US ever wanted to see what a Chinese car onslaught looked like, they just need to look at the Australia car market. Chinese brands making waves Downunder include big names like BYD, Geely, GWM, and Chery, as well as newer entrants such as Jaecoo, LDV, Leapmotor, Deepal, Avatr, Foton, Livan and Zeekr. MG, while technically a British brand, is also now owned by a Chinese company (SAIC) and is a significant player in the Australian market. While some brands offer hybrids and plug-in hybrids to appease those buyers not yet ready to make the switch to full-electric, most Chinese cars sold in Australia are electric. The Australian market is seeing a surge in Chinese car brands due to several factors with the first being that the country does not place tariffs on car imports. Other reasons include competitive pricing—especially when compared to rivals like Japanese and Korean cars, more pleasing designs and features, improved safety levels, increased manufacturing capacity in China, and growing consumer interest in electric vehicles. In fact, BYD is the biggest selling Chinese carmaker in Australia. In June 2025, BYD achieved a top five sales result of 8,156 units—which is a 367% increase over sales of June last year—becoming the first Chinese brand to do so, largely driven by the Shark 6 pickup truck, or ute according to WhichCar. BYD also surpassed Tesla in total sales in Australia for the first half of 2025 according to The Sydney Morning Herald.
Yahoo
an hour ago
- Yahoo
U.S. Physical Therapy, Inc.'s (NYSE:USPH) Intrinsic Value Is Potentially 91% Above Its Share Price
Key Insights Using the 2 Stage Free Cash Flow to Equity, U.S. Physical Therapy fair value estimate is US$168 Current share price of US$87.68 suggests U.S. Physical Therapy is potentially 48% undervalued Analyst price target for USPH is US$107 which is 36% below our fair value estimate Does the August share price for U.S. Physical Therapy, Inc. (NYSE:USPH) reflect what it's really worth? Today, we will estimate the stock's intrinsic value by estimating the company's future cash flows and discounting them to their present value. The Discounted Cash Flow (DCF) model is the tool we will apply to do this. Don't get put off by the jargon, the math behind it is actually quite straightforward. Companies can be valued in a lot of ways, so we would point out that a DCF is not perfect for every situation. If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. The Model We're using the 2-stage growth model, which simply means we take in account two stages of company's growth. In the initial period the company may have a higher growth rate and the second stage is usually assumed to have a stable growth rate. In the first stage we need to estimate the cash flows to the business over the next ten years. Where possible we use analyst estimates, but when these aren't available we extrapolate the previous free cash flow (FCF) from the last estimate or reported value. We assume companies with shrinking free cash flow will slow their rate of shrinkage, and that companies with growing free cash flow will see their growth rate slow, over this period. We do this to reflect that growth tends to slow more in the early years than it does in later years. Generally we assume that a dollar today is more valuable than a dollar in the future, so we discount the value of these future cash flows to their estimated value in today's dollars: 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Levered FCF ($, Millions) US$71.7m US$82.0m US$89.9m US$96.7m US$102.8m US$108.3m US$113.3m US$118.1m US$122.6m US$127.0m Growth Rate Estimate Source Analyst x2 Analyst x1 Est @ 9.61% Est @ 7.65% Est @ 6.28% Est @ 5.32% Est @ 4.65% Est @ 4.18% Est @ 3.85% Est @ 3.62% Present Value ($, Millions) Discounted @ 6.8% US$67.1 US$71.9 US$73.8 US$74.4 US$74.1 US$73.1 US$71.6 US$69.9 US$68.0 US$65.9 ("Est" = FCF growth rate estimated by Simply Wall St)Present Value of 10-year Cash Flow (PVCF) = US$710m After calculating the present value of future cash flows in the initial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 5-year average of the 10-year government bond yield of 3.1%. We discount the terminal cash flows to today's value at a cost of equity of 6.8%. Terminal Value (TV)= FCF2035 × (1 + g) ÷ (r – g) = US$127m× (1 + 3.1%) ÷ (6.8%– 3.1%) = US$3.5b Present Value of Terminal Value (PVTV)= TV / (1 + r)10= US$3.5b÷ ( 1 + 6.8%)10= US$1.8b The total value is the sum of cash flows for the next ten years plus the discounted terminal value, which results in the Total Equity Value, which in this case is US$2.5b. The last step is to then divide the equity value by the number of shares outstanding. Compared to the current share price of US$87.7, the company appears quite undervalued at a 48% discount to where the stock price trades currently. The assumptions in any calculation have a big impact on the valuation, so it is better to view this as a rough estimate, not precise down to the last cent. The Assumptions We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows. You don't have to agree with these inputs, I recommend redoing the calculations yourself and playing with them. The DCF also does not consider the possible cyclicality of an industry, or a company's future capital requirements, so it does not give a full picture of a company's potential performance. Given that we are looking at U.S. Physical Therapy as potential shareholders, the cost of equity is used as the discount rate, rather than the cost of capital (or weighted average cost of capital, WACC) which accounts for debt. In this calculation we've used 6.8%, which is based on a levered beta of 0.800. Beta is a measure of a stock's volatility, compared to the market as a whole. We get our beta from the industry average beta of globally comparable companies, with an imposed limit between 0.8 and 2.0, which is a reasonable range for a stable business. View our latest analysis for U.S. Physical Therapy SWOT Analysis for U.S. Physical Therapy Strength Earnings growth over the past year exceeded the industry. Debt is not viewed as a risk. Dividends are covered by earnings and cash flows. Weakness Dividend is low compared to the top 25% of dividend payers in the Healthcare market. Opportunity Annual earnings are forecast to grow for the next 3 years. Trading below our estimate of fair value by more than 20%. Threat Annual earnings are forecast to grow slower than the American market. Next Steps: Whilst important, the DCF calculation ideally won't be the sole piece of analysis you scrutinize for a company. DCF models are not the be-all and end-all of investment valuation. Preferably you'd apply different cases and assumptions and see how they would impact the company's valuation. For example, changes in the company's cost of equity or the risk free rate can significantly impact the valuation. Why is the intrinsic value higher than the current share price? For U.S. Physical Therapy, we've compiled three additional elements you should assess: Risks: To that end, you should be aware of the 1 warning sign we've spotted with U.S. Physical Therapy . Management:Have insiders been ramping up their shares to take advantage of the market's sentiment for USPH's future outlook? Check out our management and board analysis with insights on CEO compensation and governance factors. Other High Quality Alternatives: Do you like a good all-rounder? Explore our interactive list of high quality stocks to get an idea of what else is out there you may be missing! PS. The Simply Wall St app conducts a discounted cash flow valuation for every stock on the NYSE every day. If you want to find the calculation for other stocks just search here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
