EPY 8.33% 19.5¢ earlypay ltd

Ann: FY24 Investor Presentation, page-2

  1. 21,639 Posts.
    lightbulb Created with Sketch. 1245
    Clear from the presentation that they have no issues with funding, in fact they have excess capital & strong cash generation.
    Growth is being restricted due to tightening of credit requirements ie plenty of demand but being selective.

    Payout ratio going forward up to 60%
    EPS rises from 1.7c to 2.0c in FY25 that's a 1.2c DPS or 9.5% gross yield on a PE of 9.
    Seems cheap to me.
 
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