I agree that 20 times is a high multiple, and not one that I would willingly pay. However turn the number over and it is a five percent return. It is a concern that they are diversifying internationally and into education.
However - if these diversifications do not produce a high return on shareholders funds, SEK can go back into its shell, start buying back their own shares, or pay big divs, and still produce the growth in SP (with a few minor write-offs). I don't see why they wold go totally underwater on any of these investments. Anyway - so far so good with the diversification.
What is very interesting is how this recession is crushing their competition's profit margins.
The main risk I see is that a competitor starts to offer a good on-line service free of charge. However I think the demand for the service is driven by the jobseekers expectations, and is paid for by the advertisers. I think a free site will have trouble attracting the job-seekers with minimal investment or revenue.
So I'm in, but expecting volatility in the sp. Once market recovers - back to 20 times NPAT.
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Last
$21.81 |
Change
0.240(1.11%) |
Mkt cap ! $7.705B |
Open | High | Low | Value | Volume |
$21.62 | $21.82 | $21.51 | $8.312M | 384.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
10 | 321 | $21.80 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$21.81 | 291 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 61 | 21.800 |
27 | 3040 | 21.790 |
16 | 1044 | 21.780 |
7 | 599 | 21.770 |
2 | 312 | 21.760 |
Price($) | Vol. | No. |
---|---|---|
21.810 | 1382 | 15 |
21.820 | 1642 | 9 |
21.830 | 339 | 5 |
21.840 | 329 | 4 |
21.850 | 287 | 3 |
Last trade - 15.18pm 22/08/2024 (20 minute delay) ? |
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