Cash Converters had around $91m of cash in their balance sheet at the half year. This large cash balance isn't helping to produce profit and needs to be taken into account when valuing CCV.
Here is a high analysis of an adjusted PE calculation after removing the $191k of cash from the market capitalisation.
Note : The estimated FY21 NPAT is just doubling up on the actual 1h21...
It shows that CCV is probably undervalued and the current share price doesn't reflect the $91m
I would be interested in anyone's thoughts on this approach.
Ann: Half-year financial results investor presentation, page-4
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Last
23.0¢ |
Change
0.005(2.22%) |
Mkt cap ! $144.3M | |||
| Open | High | Low | Value | Volume |
| 22.5¢ | 23.0¢ | 22.5¢ | $127.9K | 566.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 248364 | 22.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 23.0¢ | 1220395 | 13 |
View Market Depth
| Last trade - 15.45pm 10/09/2024 (20 minute delay) ? |
| CCV (ASX) Chart |