Already fully valued ?, page-139

I think that the company can target 100 m AUD of EBITDA in the near future (in 2 years time), driven by their revenues and a slight improvement of their margin (scale effect).
This result is now valued at only 11 x.
Such an EBITDA should correspond to a cash flow from operation of around 72 m AUD (before the impact of working capital) and a free cash flow* of around 50 m AUD, which corresponds to a free cash flow yield of 4.7 %. This level of free cash flow yield looks high, as the company will probably still have a significant potential of growth in 2 years time.

Cettire is still one of the scarce retailers which could surprise on the upside.
Looking at consensus, the market is expecting an EPS growth of 48 % in FY 24. It looks cautious, given the trends for sales and the visibility on margins.
According to similarweb figures**, their traffic has increased by 108 % during Q1 24 vs Q1 23.
Revenue increase may be even higher, if we add the pricing and the USD effects.



* before change in working capital.
** and past posts of @byebye925 regarding last year figures