have a crack yourself. start with tangible position ie take out goodwill, tax benefits etc. see how that compares with stated net assets.
then have a look at work in progress. note very little depreciation , ie very little in hard assets. also has a fair amount of leasehold improvements ( ie fitout etc ) what are they worth really to a shareholder.
then look at debt position. tenor looks ok, but mainly usd . given most revenue in usd not such an issue, but if underlying business isnt firing, what is goodwill they purchased worth .
as an investor, how many times earnings do you want to pay in a flat to falling market. as a contractor they are good operators, with diverse clients and geograhic spread. doesnt means as an investor you will make a $.
size of this beast means they need to find heaps of work to sustain the framework they have. that is the challenge.
WOR Price at posting:
$15.88 Sentiment: Sell Disclosure: Not Held
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