Surprising that it's bounced so hard - however I'm happy for holders who have experienced so much pain.
Looking at the numbers, they generated $76 mil in profits in 2H2023. It's generous to assume the profit will be $152 mil for the next 12 months - given the starting FUM half on half and sharp reduction in profitability each period.
Even if they generate $152 mil in net profit - the current market cap is $2.14 billion based on 208mil shares x $10.33 per share. This means it is trading on 14 times net profit - which seems a very high multiple for a rapidly reducing profit.
Simply bizarre IMO and I'd say the current price already bakes in a sizeable recovery in FUM.
Ann: Final Results for the year ended 30 June 2023, page-10
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 (20min delay)
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Last
$8.66 |
Change
0.110(1.29%) |
Mkt cap ! $1.565B | |||
| Open | High | Low | Value | Volume |
| $8.55 | $8.66 | $8.52 | $3.694M | 429.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 934 | $8.65 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.66 | 6808 | 6 |
View Market Depth
| Last trade - 16.10pm 21/05/2024 (20 minute delay) ? |
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Last
$8.63 |
Change
0.110 ( 1.29 %) |
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| Open | High | Low | Volume | ||
| $8.56 | $8.65 | $8.53 | 89715 | ||
| Last updated 15.59pm 21/05/2024 ? | |||||
| MFG (ASX) Chart |