compare SWK to DDH1
strip out the orexplore and we have
FY19 Revenue $143M
EBIT 9.2M = EBIT margin of 6.5%
DDH1 we have a EBIT margin of 13.6%
in the good old days SWK achieved EBIT margin of 18%
you can see the upside in valuation if SWK increases EBIT margin to over 10% plus achieves a competitive advantage
you can also see there is little interest from fund managers in drillers, so you need to be patient with this stock and have a 2 to 3 year view. Paying a dividend becomes more important in this enviroment.
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Ann: FY19 results investor presentation, page-22
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INFINI RESOURCES LIMITED
Charles Armstrong, CEO & Managing Director
Charles Armstrong
CEO & Managing Director
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