Ann: Market Guidance, page-33

Since numbers 'cannot lie' here are some figures from other companies.

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7	Column 8
0		WOW	SHJ	BHP	ACR	QAN	TLS	JBH
1	EBITDA	4465	44	17632	17	2234	10902	241
2	OCF	3345	10	19296	11	2048	8311	180
3	%	75%	23%	109%	65%	92%	76%	75%
4	FCF	1172	7	7105	10	689	3209	137
5	%	26%	16%	40%	59%	31%	29%	57%

Its not a capital intensive industry and SHJ is still leagues below others in terms of converting accounting earnings to cash.

Take the time to do a valuation based on cash and you will see that the current share price is pretty fair imo