Although they are not exactly the same in operations and investors audience, (according to some comments on Nic board), one would think that a pure South East Asian company (NIKL) would command a lower PE multiple than Nic. And yet a forward multiple x 4, P1.05billions net quarterly profit gives AU$ 125mill. NIKL market cap. is at AU$ 3.15billions, or PE of 25. (PHP/AUD= 0.03) On Nic multiples and for comparison, please any comment are welcomed on my assumptions, as I am not 100% sure of calculations. I get from last quarter report some US$81.7 millions EBITDA less 20% = 65.36 at USD/AUD 1.4 = 91 MILLIONS or AUD 364 for the full year. This would bring current Nic PE multiples at 9.5 which is almost a third of NIKL valuation, without taking in to account respective companies debit.... Is it possible that a Philippine mining company of similar operations and market capital than Nic, is valued 3 times more ? Am I missing somthing?
NIC Price at posting:
$1.26 Sentiment: Buy Disclosure: Held
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