New data points:
- (slide 17) 14% market share in the mid-large self-licensed space. Self-licensed implies CAF carries zero risk as the underlying party holds their own AFSL. This segment is growing by double-digits.
- (slide 32) No new claims beyond petty negligible claims
- (slide 28) Funds Management and Advice EBITDA grew by 33%. As markets have risen in 2019, EBITDA should exceed $5.6m for the full year ($2.8m x 2).
- (slide 27) compare this to the prior period. The 'self-licensed' network has expanded significantly to 2,370. This is attractive "no-risk" revenue.
- Grandfathered commissions will run down, but new fee structure for the above network will kick in.
Using a SOTP (Sum of the parts) approach:
Cash $7.4m
Remaining provisions ($1.8m)
Receivable from Neos $6.3m
1. Sub-total = $11.9m or $0.079 per share
2. Ventura at 6x EBITDA = $5.6m x 6 = $33.6m or $0.22 per share
3. The "no-risk" self-licensed business that is growing by double-digits and commands 14% market share? $30m or $0.20 per share?
4. The AR business. For simplicity and conservatism, let's just say zero.
1+2+3 = $0.50 per share implying +284% upside.
- Forums
- ASX - By Stock
- CAF
- 14% market share
14% market share
-
- There are more pages in this discussion • 3 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add CAF (ASX) to my watchlist
(20min delay)
|
|||||
Last
30.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $59.66M |
Open | High | Low | Value | Volume |
30.0¢ | 30.0¢ | 30.0¢ | $7.239K | 24.12K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 70000 | 29.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
30.0¢ | 52634 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 70000 | 0.295 |
1 | 86206 | 0.290 |
1 | 4500 | 0.285 |
3 | 65827 | 0.280 |
2 | 53636 | 0.275 |
Price($) | Vol. | No. |
---|---|---|
0.300 | 52634 | 1 |
0.305 | 7120 | 1 |
0.310 | 13486 | 1 |
0.315 | 3000 | 1 |
0.320 | 57615 | 1 |
Last trade - 11.27am 30/07/2024 (20 minute delay) ? |
Featured News
CAF (ASX) Chart |
The Watchlist
MTL
MANTLE MINERALS LIMITED
Nick Poll, Executive Director
Nick Poll
Executive Director
SPONSORED BY The Market Online