Finally got hold of these. Had been eyeing them up for some time, but wanted to wait on the this years results and free up money from elsewhere.
My numbers are: Shares: 20m Equity: 77m Price: 8.59 Mcap: 172m EV: 119 (53m cash, no debt) RR: 12% NPAT: 17.7m Growth: 0.03 (though I suspect it will be more like 0, then 5+ over next 2 yrs) ROIC: 0.23
Value range:10.03-11.20
What I like about this company are: 1. The cashflows - 38m operating cashflow, with 30m capex that will be non-recurring after this FY, and still paying dividence
2. Low-risk - No debt, cash-in-hand
3. Good unedrlying business
This is one for the long term. My thoughts anyway,
MAQ Price at posting:
$8.74 Sentiment: LT Buy Disclosure: Held
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