SDI has been intriguing me, and I am kicking myself I didn't buy at 80c last year when I was researching it.. oh well, errors of omission. So now I am faced with, is the business worth 25% more at ~$1?
Definitely the revenue and top-line growth seems strong. They've been very effective at replacing the amalgam products, and now it only makes up ~10% of revenue. But over the past two years, the SG&A line has been below historical average. Simply put there's been no new products, and that due to Covid flight restrictions they haven't been able to fly to international conferences to market things. This will change in FY23 when expenses will probably increase quite materially. I find SDI really is an investment on margins: if you think they'll get compressed, you'd probably walk away on current valuations.
On the positive, I think the inventory backlog from FY20 should be resolved. The falling Aussie dollar will be a tailwind. The new products roll out should generate more opportunities. And valuation is not a stretch, but I am nowhere near as bullish as @madamswer on the terminal multiple.
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88.5¢ |
Change
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Mkt cap ! $105.1M |
Open | High | Low | Value | Volume |
89.0¢ | 89.0¢ | 88.0¢ | $1.519K | 1.715K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 408 | 88.0¢ |
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Price($) | Vol. | No. |
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90.0¢ | 22548 | 1 |
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No. | Vol. | Price($) |
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1 | 408 | 0.880 |
1 | 11000 | 0.870 |
1 | 58468 | 0.855 |
1 | 5000 | 0.850 |
1 | 199 | 0.845 |
Price($) | Vol. | No. |
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0.900 | 22548 | 1 |
0.910 | 12145 | 2 |
0.940 | 5000 | 1 |
0.945 | 10000 | 1 |
0.975 | 5500 | 1 |
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