I agree with all that you wrote, and I too was keen to know more about Wallet Wizard in the USA. A multiple of 20 is on the high side of my range, which I repeat as:
EPS -- PER ---- Share val
142.2 -- 15 --------- 21.33
--------- 16 -------- 22.75
--------- 17 --------- 24.17
--------- 18 -------- 25.60
--------- 19 ---------28.44
I expected Management to hurl their pile of cash at an o0pportunistic US acquisition, but the funds were directed to PDL purchases in the USA. This just delays the matter, because if it winds back PDL purchases for the want of collections ability, the cash collected in FY23 would need deploying. The $100m borrowing facility simply gives Management an opportunity to pounce on any opportunity that is too good to ignore, and if that does not happen, the funds need not be borrowed.
The next "guidance" and/or those that follow are likely to move NPAT expectations, and hence SP.
CCP Price at posting:
$23.18 Sentiment: Hold Disclosure: Held
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