I buy that analysis.
So Jun20 transaction $ is approx $250M.
Take $250M away for commercial leasing. To me that is a reasonable estimate considering the decline in H2 and COVID-19.
- Big question is how $34.5M H1 NPAT became $60M for FY20. How did we lose $9M in NPAT? First thing that comes to mind is Cards. Likely to have halved, so there is around $8M, with another $3M in commercial leasing, with approx $2M added in BNPL.
- so BNPL is likely to be worse than FY19 due to investment in this space
Transaction $ are now projected to be $3B in FY21 based on Jun20, hence 20% growth, which is much slower than Its BNPL peers.
However, BNPL $ growth is probably 50-100% YoY, making Humm the only profitable BNPL and the soundest BNPL investment on the ASX.
I buy that analysis.So Jun20 transaction $ is approx $250M.Take...
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47.0¢ |
Change
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Mkt cap ! $230.9M | |||
| Open | High | Low | Value | Volume |
| 45.5¢ | 47.0¢ | 45.0¢ | $136.1K | 295.9K |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 20308 | 45.0¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 47.0¢ | 95375 | 4 |
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| HUM (ASX) Chart |