Nice update Pumice.
And yes agree totally EBITDA cannot be used in isolation. One should look at both future maintenance cap ex and expansionary cap ex and its relationship to EBITDA. (which you have estimated, well done).
Your schedule provides a nice 'overview' macro picture. My only other commentary is that you should try to get a feeling for FY23 and FY24.
AGL is a turn around story and any analysis should try to reflect after FY22 (FY22 should be bottom of the cycle)
Again well done.
Ohh forgot, are your dividends reflecting that the dividends are underwritten, therefore no cash flow impact, but increased shares on offer)
AGL Future Earnings, page-315
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Last
$10.34 |
Change
-0.040(0.39%) |
Mkt cap ! $6.956B | |||
| Open | High | Low | Value | Volume |
| $10.30 | $10.34 | $10.24 | $41.89M | 4.026M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1900 | $10.31 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.34 | 24722 | 6 |
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| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| AGL (ASX) Chart |