Back of envelope:
FY24 Average FUM - $16bn
Average Fee - 105bps (factoring in the announced fee cut)
Revenue - ~$168m
Total costs ~$105m (holding FY23 constant)
Pre-tax profit ~$63m (before any profit/loss from ownership of the Funds)
After tax profit ~$45m (assuming net 28% tax)
Shares on issue ~560m (assuming buy back 28m shares)
Profit per share ~$0.08
Last years (franked) dividend was $0.14
Anything I'm missing?
Yes, I've made a few assumptions that may or not play out. This is just back-of-envelope stuff sent from a beach holiday so I welcome any criticism ;-)
I'm not short the stock, I don't really bother with shorts as they are not tax effective for me, I'm just interested in numbers and figures.
Back of envelope:FY24 Average FUM - $16bnAverage Fee - 105bps...
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Last
99.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $579.2M | |||
| Open | High | Low | Value | Volume |
| $1.00 | $1.00 | 99.0¢ | $1.219M | 1.226M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 23 | 212160 | 99.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.00 | 62392 | 6 |
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| Last trade - 16.10pm 10/06/2024 (20 minute delay) ? |
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Last
99.0¢ |
Change
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| Open | High | Low | Volume | ||
| 99.5¢ | $1.00 | 99.0¢ | 422874 | ||
| Last updated 15.59pm 10/06/2024 ? | |||||
| PTM (ASX) Chart |