Cool - so all those stocks actually trade on higher consensus FY21 P/Rev (ACV, ARR, RR, etc) i.e. greater than 40x. Note I hold a few so trending lightly.
The last close at an implied forward ACV of $8.5m AUD ACV at 30 June 2021 is 43x P/ACV.
If you do a rough bottom-up, you can see why it's run (note it's a monthly model & I've hidden cells to show FY21 full year so the comments may not make sense):
Assumptions:
- PG&E commencement: Dec-2020, USD$1m initial contract
- Major Baseball League commencement: Mar-2021 USD$0.33m initial contract
- Florida Light & Power commencement: Dec-2020 USD$0.49m initial contract
- California statewide DaaS commencement: Dec-2020 USD$0.39m initial contract
- Boeing commencement: Mar-2021 USD$0.33m initial contract
- Penetrating TAM: Dec-2020 at 0.1% of TAM
If you do a full bottom-up:
10-year DCF:
- Discount rate: 15%
- ST growth rate: 10% per month for 12 months
- MT growth rate: 5% per month for 12 months
- LT growth rate: 5% per annum in perpetuity
- Expenses grow at 25% of the implied revenue grow, i.e. for every $1 in revenue, we incur $0.25.
- Pro forma adjustments: removal of government incentives, dilution every 12 months as per 2A's
- Excluded: Further upside if capital raise in FY23 to allow for expansion into Asian markets, FY25 to allow for expansion into European markets
- TP: $0.74
SOTP:
- TP: $0.78
Blended (50/50)
- TP: $0.76
- Forums
- ASX - By Stock
- 3DP
- Ann: Enterprise Sales & ACV Update
Ann: Enterprise Sales & ACV Update, page-390
-
- There are more pages in this discussion • 30 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add 3DP (ASX) to my watchlist
|
|||||
Last
6.4¢ |
Change
-0.001(1.54%) |
Mkt cap ! $51.52M |
Open | High | Low | Value | Volume |
6.5¢ | 6.8¢ | 6.4¢ | $35.27K | 543.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 167607 | 6.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
6.6¢ | 1500 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 167607 | 0.064 |
2 | 56746 | 0.063 |
1 | 100000 | 0.062 |
2 | 70000 | 0.061 |
2 | 116666 | 0.060 |
Price($) | Vol. | No. |
---|---|---|
0.066 | 1500 | 1 |
0.067 | 100000 | 1 |
0.068 | 370436 | 4 |
0.069 | 255000 | 2 |
0.070 | 851272 | 8 |
Last trade - 15.57pm 20/08/2024 (20 minute delay) ? |
Featured News
3DP (ASX) Chart |
The Watchlist
CC9
CHARIOT CORPORATION LTD
MD - Shanthar Pathmanathan, Geologist - David Trabert
MD - Shanthar Pathmanathan
Geologist - David Trabert
SPONSORED BY The Market Online