The AFR article states EQT bought VetPartners for $1.4bil which is a 13.5x multiple on FY23 adjusted EBITDA of $104mil (also stated in the article).
AHX latest FY24 results were $20.3mil EBITDA and $15.8mil EBITA, so applying same multiple of 13.6x to each results in a per share sale price of $3.09 and $2.40 (based on 89.4mil shares outstanding).
If we assume a more conservative multiple of 6x (less than half of 13.5x paid), that still results $1.36 (EBITDA) or $1.06 (EBITA) per share respectively.
Keen to hear the views of others and if I've overlooked anything.
Trade stalk Apiam Animal Health, page-5
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50.0¢ |
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Mkt cap ! $91.26M | |||
| Open | High | Low | Value | Volume |
| 50.0¢ | 51.0¢ | 50.0¢ | $7.754K | 15.50K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 52040 | 49.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 50.0¢ | 5551 | 2 |
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