Having had a chance to review the 2018 financials I note a couple of things;
The reported EPS of 64.3c includes the provision for back taxes of $3.014m, so based on the ‘normalised’ NPAT of $54.02m the EPS would be 68.1c, so not such a large miss on consensus EPS of 69.7c for 2018. The issue now is that to reach the current 2019 EPS consensus of 77.1c implies a 2019 growth rate of 13.2% against the 10 year CAGR of 10.6%.
Sales increased by 11.8% v expenses increase of 12.2%, leading to a slight reduction in margins.
Cash on hand went from $27.6m in 2017 to $9.2m in 2018 or -$18.4m, receivables were up about 10% and inventories up about 20% YoY.
ROE fell from 18.1% to 16.8%.
As a holder for over 15 years I have no doubt that ARB is a very high quality business but the question has to be asked if these results justify the current valuation with a P/E of 33 and a div yield of 1.7%?
- Forums
- ASX - By Stock
- Ann: Appendix 4E and Annual Report
Having had a chance to review the 2018 financials I note a...
-
- There are more pages in this discussion • 23 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add ARB (ASX) to my watchlist
|
|||||
Last
$38.11 |
Change
-0.150(0.39%) |
Mkt cap ! $3.140B |
Open | High | Low | Value | Volume |
$38.12 | $38.50 | $38.03 | $4.255M | 111.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
11 | 156 | $38.10 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$38.11 | 116 | 14 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
11 | 156 | 38.100 |
3 | 77 | 38.080 |
4 | 103 | 38.070 |
13 | 308 | 38.060 |
5 | 145 | 38.050 |
Price($) | Vol. | No. |
---|---|---|
38.110 | 116 | 14 |
38.120 | 15 | 1 |
38.130 | 12 | 1 |
38.140 | 311 | 2 |
38.150 | 99 | 2 |
Last trade - 14.25pm 20/06/2024 (20 minute delay) ? |
Featured News
ARB (ASX) Chart |
The Watchlist
HAR
HARANGA RESOURCES LIMITED.
Peter Batten, MD
Peter Batten
MD
Previous Video
Next Video
SPONSORED BY The Market Online