RMC

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80.0¢ resimac group ltd

Ann: Resimac's normalised NPAT increases to a record $104 million, page-220

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Rick65

54 Posts.

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01/12/21

10:40

Post #: 57987906
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Originally posted by meghotcop: ↑

That is because RMC is influenced by mixed information and market forces - in my view anyway. Here are the major sticking points as I see it:

1. Only 38% of the issued stock is free floating
2. There have been efforts made in the last 3 months to shortsell this stock

RESIMAC GRP LTD ORDINARY (RMC)

1 month|3 months|12 months|3 years
Percentage Shorted23-Aug202106-Sep202120-Sep202104-Oct202118-Oct202101-Nov202115-Nov202100.0050.010.0150.020.025www.shortman.com.a

'Daniel1990' posted this you tube. The CEO speaks fast, indistintively and lots of jargon. Had to listen to it 3x.

My take on major points on the positive:

1. RMC has a very advantageous Cost to Income Ratio of between 30 - 40% compared the the Big Four. This is a ratio that they cannot achieve at any time, because they are 'bricks and mortar ' based. The bigger the balance sheet, the more important is this ratio. Below is a table of the ratios:

WBC: 55.4%
ANZ: 53.2%
CBA: 46.5%
NAB: 45.8%

Above data is from: https://www.statista.com/statistics/1062088/australia-cost-to-income-ratio-of-major-banks/

2. RMC does a good deal of flexible rate lending, giving it more flexibility when rates rise.

3. Comparing RMC with the big four in terms of earnings and dividends for FY 21 and FY 22 estimated (consensus estimates, for RMC I did not estimate growth, but 0.5 cent higher dividend):

In terms of before and after tax, RMC is better than CBA, but lesser than WBC, ANZ and NAB.

In terms of P/E, RMC beats any alternative hands down. It is worth noting that despite their miserable dividend pay out, they are still competitive in terms of net yield. Most importantly, the high retaining rate of their earnings (75%) should buffer the SP from falling further over the mid-term.

4. Last but not least, RMC has a much faster approval return rate the the above established competitors.

My opinion only (and I am sure I have forgotten something).

GLTAH

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Thanks, good reading and has encouraged me to do some more research.
Maybe my question is wrong, rather than why is it $1.6 now (less today) but why was it $2.4 three months ago.

RMC Price at posting: $1.56 Sentiment: Hold Disclosure: Held
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Ann: Resimac's normalised NPAT increases to a record $104 million, page-220

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Ann: Resimac's normalised NPAT increases to a record $104 million, page-220

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