For context, listed packaging peer, ORA reported results today.
Generally, it was a better quality result from a business that is generally of a higher quality than PHG.
The difference is that PGH trades at 7.5x P/E, while ORA's multiple is almost double that, at around 14x-15x.
But I don't believe PHG is only half the quality of ORA, maybe three-quarters of the quality.
So if the market is happy to pay 14x-15x for ORA, then I think a fair multiple for PGH should be around 11x.
...which translates into a share price for PGH of closer to $1.70 (or, $1.50, at a very minimum).
..
Ann: 2023 Half-Year Results Presentation, page-17
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Last
77.0¢ |
Change
-0.020(2.53%) |
Mkt cap ! $265.1M | |||
| Open | High | Low | Value | Volume |
| 76.5¢ | 78.5¢ | 76.0¢ | $1.325K | 1.732K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 55166 | 76.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 77.0¢ | 930 | 1 |
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