Excellent analysis... only flaw is market is forward looking....when you redo the multiples on forecast FY16f NPAT of 85%*FY15A ($76.1m) = $64.7m the multiples are more like 11.8x (PE).
PE multiple of 30x would imply mkt cap of c$1.9b and share price of $3.54. (considerable upside from current share price).
DYOR
AHY Price Action, page-42
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