I will give my simple reasoning why there is value in IFL. When all integrations are complete IFL will have above $400B in FUMA. In the meantime there will be all kinds of costs - reorganisation, remediation, impairment, provisions, penalties, lawsuits etc etc. The basic thing about FUMA is that you get to take a tiny slice of it as fees - say 20-25 basis points. So when they are past all the one-off costs in the interim, they get to make $800m-1000m as EBITDA and anywhere between $400-600m as NPAT which is 18-27% return on current market cap which would be a multiple of 3.6-5.4. A stable business of this size would be valued at multiples of 12-15. That is the gap some of us are hoping to reap. It could take 3-5 years but there is the dividends to pay for that wait.
I will give my simple reasoning why there is value in IFL. When...
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Last
$2.36 |
Change
-0.060(2.48%) |
Mkt cap ! $1.582B | |||
| Open | High | Low | Value | Volume |
| $2.41 | $2.43 | $2.34 | $4.314M | 1.824M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 60015 | $2.35 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.36 | 46817 | 4 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$2.36 |
Change
-0.060 ( 3.10 %) |
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| Open | High | Low | Volume | ||
| $2.42 | $2.43 | $2.34 | 407169 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| IFL (ASX) Chart |