Ann: Full Year Results Investor Presentation, page-17

If only business was so binary and simple.

For example the very nature of BOOM Business is a Medium to low capital intensity. Not low for example an IT software provider.
Assets in use versus stranded assets are 2 different things. BOOM is making the correct decisions to recycle older assets for newer more efficient and cheaper operating costs assets, and disposing stranded or old assets.

And not to get confused with assets on the shelf waiting for a desperate high paying contract to come along.

Secondly a Business is valued( say private equity) Ceteris Paribus based on EBITDA not NPAT So an EBITDA multiple of say 8 on 46M = $368M
Whereas 8 X 6M is a mere $48M. (IMO Boom could be sold to privately between 7.5 and 10 times ebitda therefore $345M to $460M )

Of course simple working capital calculations are made as well as paying out the interest bearing debt so that I in EBITDA is wiped

Whichever way you look this is one cheap stock.

I will be buying soon