For context, listed packaging peer, ORA reported results today.
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Generally, it was a better quality result from a business that is generally of a higher quality than PHG.
The difference is that PGH trades at 7.5x P/E, while ORA's multiple is almost double that, at around 14x-15x.
But I don't believe PHG is only half the quality of ORA, maybe three-quarters of the quality.
So if the market is happy to pay 14x-15x for ORA, then I think a fair multiple for PGH should be around 11x.
...which translates into a share price for PGH of closer to $1.70 (or, $1.50, at a very minimum).
..
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- Ann: 2023 Half-Year Results Presentation
Ann: 2023 Half-Year Results Presentation, page-17
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Last
78.5¢ |
Change
-0.005(0.63%) |
Mkt cap ! $271.9M |
Open | High | Low | Value | Volume |
76.5¢ | 78.5¢ | 76.5¢ | $268 | 348 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 1095 | 76.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
78.5¢ | 522 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 1095 | 0.765 |
1 | 50000 | 0.760 |
1 | 1329 | 0.750 |
2 | 1900 | 0.730 |
1 | 7187 | 0.705 |
Price($) | Vol. | No. |
---|---|---|
0.785 | 522 | 3 |
0.790 | 2 | 1 |
0.795 | 3247 | 2 |
0.800 | 41968 | 4 |
0.840 | 2000 | 1 |
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