NPAT in 2016 was $6.4m but that included $3.8m depreciation versus $5.8m investing cash outflows which are mostly for software development. I prefer to include these in my profit figure given they are a cost of doing business for software companies. Therefore, normalised profit for 2016 was <$5m in line with FCF.
For forward PE to be under 30 you are saying that FCF this year will be >$15m - I would be very surprised.
Even if you are right, I'd still question the logic of buying back stock at 30x earnings. Then again, they have a better idea of the value of the business than me but it would have to be a business of extremely rare quality for this to be justified.
NPAT in 2016 was $6.4m but that included $3.8m depreciation...
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Last
$317.34 |
Change
-0.350(0.11%) |
Mkt cap ! $33.15B | |||
| Open | High | Low | Value | Volume |
| $318.00 | $320.18 | $313.61 | $58.36M | 184.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 490 | $317.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $317.34 | 226 | 2 |
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| Last trade - 16.10pm 11/07/2025 (20 minute delay) ? |
| PME (ASX) Chart |