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
$316.86 |
Change
-0.485(0.15%) |
Mkt cap ! $33.04B | |||
| Open | High | Low | Value | Volume |
| $319.34 | $321.99 | $314.91 | $6.598M | 20.77K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 14 | $316.75 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $316.96 | 12 | 3 |
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| Last trade - 11.07am 14/07/2025 (20 minute delay) ? |
| PME (ASX) Chart |