It's hard to justify a valuation anything above $2 for Austin, given the Bradken rejection. It's even possible to get to $1.50 to $1.75 very easily.
Here's the math:
If we assume EBITDA of $35m in 2014 and $48m in 2015, that averages $42m. Doing this, we give ANG the benefit of an earnings recovery in 2015. If we apply an EBITDA multiple of 5x to $42m, that's an enterprise value of $210m. Deduct expected net debt of $60m in 2015 and we get a market cap of $150m. That's a shareprice of $1.78. And that's even before discounting the time value of money (say 10% pa). So we're at $1.50.
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Last
30.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $186.1M | |||
| Open | High | Low | Value | Volume |
| 29.5¢ | 30.5¢ | 29.5¢ | $139.2K | 462.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 480791 | 29.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 30.0¢ | 316413 | 9 |
View Market Depth
| Last trade - 10.09am 12/09/2025 (20 minute delay) ? |
| ANG (ASX) Chart |