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.
Surprising that it's bounced so hard - however I'm happy for...
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Last
$8.56 |
Change
0.010(0.12%) |
Mkt cap ! $1.548B | |||
| Open | High | Low | Value | Volume |
| $8.55 | $8.62 | $8.52 | $1.870M | 218.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 20 | 588 | $8.56 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.57 | 2417 | 29 |
View Market Depth
| Last trade - 14.40pm 21/05/2024 (20 minute delay) ? |
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Last
$8.58 |
Change
0.010 ( 0.70 %) |
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| Open | High | Low | Volume | ||
| $8.56 | $8.61 | $8.53 | 66205 | ||
| Last updated 14.57pm 21/05/2024 ? | |||||
| MFG (ASX) Chart |