$956m is not profit; it's basically EBITDA because it doesn't included G&A expenses, R&D expenditure, Depreciation & Amortisation, nor Taxation.
Underlying net profit will be lucky to be even half of $956m today,
When CSL acquired the Vifor business it was making annualised NPAT of around $350m (and that was when its "Operating Result was over $1.0bn, compared to last year's $956m)
So instead of your nonsense "9% earnings yield" acquisition claim, it is probably closer to be 4.0%/4.5%.
No matter how many times it is pointed out to you, using evidence from the audited financial statements, that Vifor was a poor acquisition, you insist on periodically trying to put lipstick on the Vifor pig.
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CSL Price at posting:
$270.00 Sentiment: None Disclosure: Held
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