Hey, sorry I did not make it clear but I meant the shares are...

Hey, sorry I did not make it clear but I meant the shares are trading at around 5 aud. You are right last year UNPAT/Cash Earnings was at 33.6c. I assume this year we will prbably see 38-40c, considering the market recovery while earnings need time to adjust to new level of FUMAA. However UNPAT does follow the market and thus FUMAA. With the acquistions, although a little bit optimistic, I can see a path that we make 50c next year. Market is usually looking forward to next year earnings, not the current year. I assume it is the same in Australia.

All the screen I can see showing 29.4 in EPS and based on that FID is quite expensive, considering the sorry state in this sector. But if I was right and we do have underlying EPS come close to 50c in 19/20, then this is probably too cheap. But be advised no one other than those who have serious interests in this company have any incentives to look beyond headline P/E. This is likely the reason why it is quite cheap. Be prepared it will remain this way for a long time.

Liquidity will soon flood the market if Australia decides to do its own QE/stimulus. It is ironic to see the market remained flat while all other markets are making new highs and will finally break out when the economy is under more stress.