$30m cash profit would be very good, which might be equivalent to 10 PE (if not for the accounting rules). That would be very cheap for a fast growing company.
I don't know whether $30m cash profit is realistic.
MNY with $480m market cap. Screenshot >6 months old.
MME with <$200m market cap.
MNY seems more mature, showing a strong (25%) NPAT margin. But other than that, MME shows very strong/undervalued numbers. Apparently greater scale than MNY already, and growing faster too, with more and more overlap in the same auto loans industry.
Being mature is a margin of safety however, as it proves that they're grown to where they are without taking on excessive risk.
Possibly MME is undervalued by >50% relative to MNY.
Ann: 4Q22 Trading Update Record Revenue And Secured Asset Scale, page-14
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Mkt cap ! $92.00M | |||
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