Current M/CAP 149m with Net Cash on hand at 68m EV is 81m
Ebitda for the HY of 29M annualised at 58m, Ebitda to EV is under 1.5 times ( ridiculously low )
annualised NPAT at around 28m puts the ratio to EV at x 3. Which is extremely low .
SP $ 8.60 while NTA is $10.40 per Share this is nearly 20% under valued just on Assets value
No Div was declared with priority by Management for a Share BB which has been Executed in underwhelming slow pace regardless of the high Net cash .
Seems market is not to excited regardless of the low multiples and undervaluation of CAA SP
Management should lift their game in executing the rate of Share BB to make a somehow significant impact . At least get it to the $ 10.40 NTA by purchasing more Shares on the market , Management excuse themselves of low volume of Shares on sale but surely if they raised the volume of BB per day price will rise and will incentivised more SH to sell.
CAA Price at posting:
$9.24 Sentiment: None Disclosure: Held
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