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clock Created with Sketch. 03/03/24
09:06
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Originally posted by Roy2U:
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" the market seems to have missed what has been quite a steady growth story" It also seems to have missed the outstanding growth that has occurred in North America. From North American revenue of only A$1M in FY19, Mader has proven its business model there with $132M in FY23, and $94M in only the last 6 months. Yet they have only started to scratch the surface. This makes it very hard to understand why the forward P/E level now (approx 25) is much lower than it was after the FY23 reports in August 2023, when it was nudging a forward P/E of 40. IMO any company achieving this sort of growth in NA should command quite a P/E premium for the growth rates on offer.
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yeah I’ve bought more recently and feel I’m getting a much better deal even though the sp is higher than previous purchases. Seems like a great well managed business
