Ann: 2024 Half Year Results Investor Presentation, page-8

Not sure on the divvis
price to earnings needs to be closer to price to cashflow due to cashflow growth and margins.
Profitability metrics are above industry average and room to improve. But its the cashflow that makes this company undervalued.

At the moment I value it minimum $3.85 (12.5 p/e) and up to $5.70 (18p/e) if cashflow expansion continues unabated and maintains margins and that's without any potential quality premiums .