I have had a quick look at MND, saved the reports, and I'll...

I have had a quick look at MND, saved the reports, and I'll scrutinise it later. MND has always had a high Dividend Payout ratio, because it does very little grunt work, and hence it has near-zero CAPEX in yellowgoods (bulldozers, etc). The focus on maintenance work is paying off, and it has low cyclicality. MND was badly hurt when its services declined when the North West Shelf oil and gas boom turned into a slump, and it has over the years repositioned itself to mitigate that exposure (lower margin, but more certainty).

Tomorrow LYL reports for FY22, and I intend comparing both LYL and MND's FY22 to that of NWH. I do not hold MAH and Parenti, so I do not know them well, but I may look at them, lest the dovetail well into the comparison I have in mind. It is important to realise that stock valuation methodologies based on multiples are "relative" methodologies that only make sense if compared to similar stocks, and this is what I want to do. My PC is very old, and playing up, which may hold me back , because if I work on it too long, the problem gets worse, suggesting it is a heat-related problem, but not worth fixing because the laptop is circa 16 years old.