EVO 0.00% 80.0¢ embark early education limited

Ann: Trading Update, page-10

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  1. 2,362 Posts.
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    FROM NGE report 6 May

    Valuation

    Share price (30 Apr 24) A$ 0.680
    Market cap A$m 108
    EV1 A$m 109
    EV/EBITDA (FY24E)1 x 5.2
    NGE position size % 4.7%
    Low High
    EV / EBITDA x 7.0 8.0
    FY24E EBITDA (existing centres) A$m 17.7 18.3
    Add: acquired centres EBITDA A$m 6.0 6.5
    Less: corporate overhead A$m -3.4 -3.4
    PF FY24E EBITDA A$m 20.4 21.5
    EV A$m 142 172
    Less: net debt A$m -1 -1
    Implied equity value A$m 142 171
    Shares outstanding m 159.5 159.5
    Value per share A$ 0.89 1.07
    Upside % 31% 57%
 
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