Great analysis Conor to put into context a possible margin contraction.
I believe that in this first part of the correction what we are seeing is a compression of multiples due to the irrationality of the valuations that were paid. In the next few quarters it is possible that the additional correction will come from the fall in profits and the decline in margins.
Great analysis Conor to put into context a possible margin contraction.
I believe that in this first part of the correction what we are seeing is a compression of multiples due to the irrationality of the valuations that were paid. In the next few quarters it is possible that the additional correction will come from the fall in profits and the decline in margins.