I think we are at fair priced at the moment with FY24 PE around 25, but the good thing is if earning momentum keeps going and if they win any new big contract, FY25 should bring down to 15, which would indicate SP should pop to $7.
SXE is gaining all the attention at the moment, their PE has been rerated to currently 17x, with next year 13x. So it is relatively cheaper than IPD but their margin is half of IPD. IPD makes 11% operating margin while SXE makes 6%, hence the difference in quality.
Ann: FY24 Earnings Guidance, page-20
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$4.77 |
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Mkt cap ! $493.1M | |||
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