Hard to see how earnings do not increase. Perhaps a short term impact from rising wages and a drop in FUM, but the overwhelming demand for fin advice is not stopping. Prices must increase (and perhaps the advice arm will actually make more money)
When the company has ~$17m in net cash ($14.5m from Q1FY23, plus Q2), you're looking at ~$19m0 for a UNPATA figure of $15.7m (~12.3x EV/FCF)
Not cheap for most, but FID has managed mid teens EPS increases for a long time. Buying at an 8% FCF yield on a stream growing at ~14% p.a. is a bargain. Even if growth slows (unlikely as op leverage kicking in) it's cheap.
FID General Discussion, page-10
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Last
$8.15 |
Change
-0.030(0.37%) |
Mkt cap ! $256.5M | |||
| Open | High | Low | Value | Volume |
| $8.19 | $8.19 | $8.06 | $158.8K | 19.59K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 476 | $8.06 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.15 | 1982 | 1 |
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| Last trade - 16.10pm 02/09/2024 (20 minute delay) ? |
| FID (ASX) Chart |