There is no cash in DA, so its irrelevant this analysis.
The analyst is apples and apples in quoted analysis.
Your asking about the orange - NPAT. This is almost always less than EBITDA and EBIT. Unless earning interest and/or tax refunds. It's a different and harder analysis to compare ultimate FCF and NPAT - oranges and oranges. But it's very safe to say if conversion poor at the EBIT level then however you analyse it, "conversion" will also be poor at the NPAT level.
SGH Price at posting:
83.0¢ Sentiment: Sell Disclosure: Not Held
