Billabong And Quiksilver - 2 Similar Financial Paths, 2 Different Strategic Paths
- Billabong trades at a deep discount to Quiksilver.
- Billabong's discount is unwarranted, as Billabong has recapitalized its balance sheet and has no net debt.
- Quiksilver may need to raise equity and recapitalize its balance sheet.
- Billabong and Quiksilver have chosen very different strategic paths for the future.