Some crazy financial metrics at these prices.
- Price to Book Value of 0.40: Even assuming a substantial impairment of assets, there's a huge margin of safety here. You're paying 40c on the dollar for the net assets of FXL.
- Trailing Price to Earnings of 4.21
- Trailing Dividend Yield of ~10%
Obviously both earnings and dividends will take a hit in this next period, but just goes to show how cheap the company is relative to historical metrics.
All in the context of A) Healthy undrawn funding facilities of ~$850M - minimizing solvency/liquidity risk, and risk of dilution via cap raises and B) Director buying all the way down to $1. Given the lag between director purchases and the Appendix 3Y announcements - would not be surprised to see more of these notices come out in the next few days.
We're not looking at an APT/Z1P here - this is an established, profitable company with a proven business model that has withstood a number of serious financial shocks in the past - GFC, 9/11, dot.com boom/bust etc.
Strong buy rating for me, but given market conditions wouldn't be surprised to see a further ~10-15% drop from here. I'm not going to try pick the bottom though.
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Last
40.5¢ |
Change
-0.020(4.71%) |
Mkt cap ! $199.0M |
Open | High | Low | Value | Volume |
42.0¢ | 42.0¢ | 40.0¢ | $433.1K | 1.049M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 536110 | 40.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
41.0¢ | 67265 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 536110 | 0.405 |
10 | 495403 | 0.400 |
8 | 83232 | 0.395 |
9 | 106913 | 0.390 |
4 | 9353 | 0.385 |
Price($) | Vol. | No. |
---|---|---|
0.410 | 67265 | 5 |
0.420 | 7245 | 1 |
0.425 | 57423 | 4 |
0.430 | 178924 | 12 |
0.435 | 23721 | 3 |
Last trade - 16.10pm 24/06/2024 (20 minute delay) ? |
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