Terminix Global Holdings, Inc. (TMX)

Terminix Global Holdings, Inc. (TMX) — VMCI valuation read

Headline read on TMX: VMCI of 53/100 versus a Consumer Cyclical sector median of 50. The 3-point above-median position is what makes Terminix Global Holdings, Inc. a relative-value candidate in the mid-cap cohort, before any pillar-level review.

Form 4 filings on TMX: zero in the trailing 30 days. The absence of insider transactions is itself a data point, just a low-information one. The thesis runs on financials and price action until that changes.

**Investor frame.** Three reads on TMX: value (TMX trades at 21.0x earnings, 17% above the Consumer Cyclical median of 18.0x), quality (ROIC of 19.0% sits 9.0pp above the Consumer Cyclical median (10.0%)), and risk (net debt to EBITDA of 2.6x is the rate-sensitivity line to watch). The value read also implies an EV/EBITDA gap of +4.0x against the Consumer Cyclical 12.0x baseline.

TMX rose 3.7% over the trailing 7 days, with a +4.5% read on a 30-day basis.