Just went through the MST report....just a few comments:
Most of the "peers" selected for the 15.7x EBITDA multiple (which I still believe is not appropriate given how much interest is below the EBITDA line for FND) are global giants - Visa, Mastercard, PayPal, Block - these are NOT comparables to an Indian ATM operator out of Australia capped at $250m.
So they acquired Tata's ATM assets at 4.0x EBITDA, and now suddenly they are worth 15.7x EBITDA?
MST have net debt at $28m but interest expense for the half year alone was $8.5m....
Always check the assumptions in any report for validity.
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Last
$3.72 |
Change
0.010(0.27%) |
Mkt cap ! $229.9M | |||
| Open | High | Low | Value | Volume |
| $3.74 | $3.78 | $3.71 | $204.1K | 54.56K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2635 | $3.72 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.78 | 1000 | 1 |
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| Last trade - 16.10pm 01/08/2025 (20 minute delay) ? |
| FND (ASX) Chart |