https://www.raasgroup.com/
Updated research report on commsgroup
Valuation of $0.18/share or $70m market cap fully-diluted
Both a DCF and peer multiple valuation are suitable for CCG. From a peer multiple
perspective using FY23 consensus estimates CCG is trading at a 6% discount to the average
listed (profitable) peers (6.4x EV/EBITDA) despite little Vodafone revenue but the associated
start-up costs, and little restructuring benefits. Recent M&A multiples (8.1x EV/EBITDA)
would imply a share price of $0.091/share. From a DCF perspective, CCG is profitable and
has transparency around expected divisional revenue growth rates, gross margins, and cost
growth. Our DCF has increased from $0.16/share to $0.18/share, driven by the cost
reductions, offset somewhat by some longer-term cost assumptions. Our DCF assumes
stable gross margins, growth in Microsoft Teams phone connections (including Vodafone).
As a sense check our DCF implies an FY25 PER of 14.0x and EV/EBITDA of 7.7x based on our
estimates.
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Ann: Business update and restructure, page-9
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Last
6.9¢ |
Change
0.002(2.99%) |
Mkt cap ! $26.66M |
Open | High | Low | Value | Volume |
6.8¢ | 6.9¢ | 6.2¢ | $45.18K | 701.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 139909 | 6.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
7.0¢ | 95285 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 139909 | 0.062 |
1 | 100000 | 0.061 |
1 | 103891 | 0.060 |
1 | 53571 | 0.056 |
1 | 100000 | 0.051 |
Price($) | Vol. | No. |
---|---|---|
0.070 | 95285 | 1 |
0.075 | 102857 | 1 |
0.078 | 10000 | 1 |
0.080 | 384135 | 1 |
0.081 | 6181 | 1 |
Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
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