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
$7.45 |
Change
-0.150(1.97%) |
Mkt cap ! $234.5M | |||
| Open | High | Low | Value | Volume |
| $7.56 | $7.65 | $7.41 | $21.33K | 2.822K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5000 | $7.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.65 | 1877 | 1 |
View Market Depth
| Last trade - 15.54pm 05/07/2024 (20 minute delay) ? |
| FID (ASX) Chart |