If I understand correctly then, you are taking the company's target of 2B revenue in FY26 and working back from that?
There may be a slight difference of interpretation going on here. You say this is the company's projection but it is actually just the goal they set themselves in FY21 during the strategic review - and at the lowest point they've been in for years. 8.5% CAGR is what they are saying will be required if they are to remain on track to reach that goal.
It isn't a forecast - at least that's not how I read it. Since it is a target, they are not adjusting it up or downwards based on their actual performance. So using it as a projected revenue will lead to an inaccurate outcome IMO.
Ann: 1H23 Results Presentation, page-107
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