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Undervalued Cash flow positive business, page-6

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nooks

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28/06/23

13:17

Post #: 68512538
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Originally posted by steve10: ↑
@cjarma01

12 months cash receipts of $100.5M & cash balance of $56.2M. Will burn about $5M cash Q4 FY23 = $51.2M balance & break even.

$115.6M MC / $100.5M TTM revenue = x1.15. Should re-rate to x3 TTM to around $300M MC when market improves for small caps.

BTH $291.5M MC / $125M FY23 revenue = x2.33. BET has x2 upside in comparison.

With BET 10% revenue growth to $110M TTM x 3 = $330M MC.

$115.6M MC - $51.2M cash after Q4 FY23 = $64.4M EV.

About $5M cash burn per quarter. Staff overheads to reduce from $91.5M to $70M per year from Q1 FY24 = $21.5M / 4 = $5.375M per quarter.

Cashflow break even from Q1 FY24.

BTH & MP1 trading at around x60 EBITDA.

Assuming BET can make $5M EBITDA FY24 x 60 = $300M MC or about 32c SP in a year.

$100M revenue = break even & with 10% revenue growth FY24 = +$10M revenue FY24 x 50% EBITDA = $5M EBITDA forecast.

Will become a takeover target when generating EBITDA.

Broker Consensus
Breakdown 5 Buy·1 Hold·0 Sell
Recommendation Strong Buy
Last Updated 01/06/23

Fair Value Estimate
0.404
BET is trading below its Morningstar Fair Value Estimate.

Might get pushed down to 10c before it bounces.

Expand
"Assuming BET can make $5M EBITDA FY24 x 60 = $300M MC or about 32c SP in a year. "

Given the market is meant to be forward looking and this this should be from next week, we should be closer to 32c than 12c today all other things being equal (which they are clearly not)...

BET Price at posting: 13.0¢ Sentiment: Buy Disclosure: Held
7 Upvote

1 Great analysis

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(20min delay)
Last 8.8¢		Change -0.002(2.22%)		Mkt cap ! $84.93M

Open	High	Low	Value	Volume
8.9¢	8.9¢	8.6¢	$35.08K	401.2K

Buyers (Bids)

No.	Vol.	Price($)
1	78915	8.8¢

Sellers (Offers)

Price($)	Vol.	No.
9.0¢	143912	5

View Market Depth

No.	Vol.	Price($)
1	78915	0.088
1	99963	0.087
1	100000	0.085
2	361720	0.083
3	170000	0.082

Price($)	Vol.	No.
0.090	143912	5
0.091	36584	2
0.092	35000	2
0.093	50000	1
0.094	95966	1

Last trade - 16.10pm 06/09/2024 (20 minute delay)

BET (ASX) Chart

Undervalued Cash flow positive business, page-6

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	Breakdown	5 Buy·1 Hold·0 Sell
Recommendation	Strong Buy
Last Updated	01/06/23

Undervalued Cash flow positive business, page-6

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Buyers (Bids)

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Featured News