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DWS dws limited

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Agreed, I cut it out of my portfolio this morning. Cash can be...

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Patisonit

693 Posts.

139

12/02/18

12:43

Post #: 30993025
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Originally posted by madamswer ↑

Hmmm. Not a great result.

Stripping out the writeback of the earn-out provision, PRe-Tax profit fell 5% on DH16 (which itself was not a very strong base, given that result was 6% down on DH15).

And the outlook is somewhat muted, so even if they matched the first half performance in the current half, at the current share price that places the stock on valuation multiples of 12.0x P/E and 9.0x EV/EBITDA, which don't look attractive enough to me for what this business is, and its pretty limited financial pedigree (albeit that it is a highly cash generative business, but those cash flows fall over time unless the holes are plugged with ongoing acquisitions).

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Agreed, I cut it out of my portfolio this morning. Cash can be better used elsewhere, plenty of opportunities to acquire something more worthwhile or average down already held positions as was the case for me

DWS Price at posting: $1.53 Sentiment: None Disclosure: Not Held
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Agreed, I cut it out of my portfolio this morning. Cash can be...

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