The chart crime is impressive... gotta fiddle with those Excel y-axis minimum bounds to make the report look good, then maybe should look twice in the details of the report.
The stat earnings are inflated from one-off costs in FY20 that deflated the earnings. What is reported as a 31% NPAT improvement is really on an underlying improvement in the business of 2.1% NPAT. I think CWY was open about this in their presentation/report.
Long term the business still looks solid. Just two concerns in the short term: first, margins are being squeezed and not sure if this is Covid related or otherwise - they reckon some of their solid waste fees will go up in FY22-23, but it's pretty marginal and not consistent across all jurisdictions. Second, the valuation is a stretch: 6.7% FCF yield, PE = 35 on underlying earnings, EV/EBITDA=11.3.. it's definitely not cheap.
The chart crime is impressive... gotta fiddle with those Excel...
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Last
$2.82 |
Change
0.020(0.71%) |
Mkt cap ! $6.286B | |||
| Open | High | Low | Value | Volume |
| $2.81 | $2.84 | $2.80 | $19.33M | 6.848M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 54696 | $2.82 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.83 | 7080 | 1 |
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| Last trade - 16.10pm 31/07/2024 (20 minute delay) ? |
| CWY (ASX) Chart |