If you take $55m as a conservative figure, you're already trading below 10x earnings. That's a 10% FCF yield, all else being equal.
Furthermore, if you assume 60% payout (maybe not for this half), with franking credits that's a gross yield of 8.5% on that figure (if dividends are your thing). I believe they'll be higher, I'm using existing figures.
Unless you believe ADH revenues will shrink meaningfully from this point, it's pretty hard to say it's priced correctly.
Ann: ADH Trading Update, page-28
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Last
$1.83 |
Change
-0.105(5.44%) |
Mkt cap ! $318.7M | |||
| Open | High | Low | Value | Volume |
| $1.91 | $1.92 | $1.82 | $3.540M | 1.913M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 41993 | $1.82 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.83 | 3334 | 1 |
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| Last trade - 16.10pm 29/08/2024 (20 minute delay) ? |
| ADH (ASX) Chart |