1. I never said Equity deserved the same multiple as cash, that would mean a valuation of $28 for fmg.
2. I clearly said investors need to discount with a margin of safety, if I wasn't adjusting for risk the valuation would be either $28 at the cash rate, or well over $9 at your 10% figure, the original posted was claiming $5.50 was over valued, thats the price I was responding to.
3. as I laid out in another post, that is largely covered by the depreciation and amortisation charge
Iron ore price, page-863
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Last
$20.52 |
Change
0.170(0.84%) |
Mkt cap ! $63.27B | |||
| Open | High | Low | Value | Volume |
| $20.47 | $20.68 | $20.44 | $28.62M | 1.393M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 1697 | $20.52 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.53 | 1163 | 4 |
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| Last trade - 11.30am 29/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |