IMO this $65bn odd market cap is the silliest valuation on the ASX.
Group has c. $17bn NTA. So where’s the other c. $50bn of value supposedly coming from?
They manage c. $70bn of external FUM - are GMG going to harvest $50bn NPV worth of management fees from this pool of funds over time?
Or is it the c. $2bn of WIP on GMG balance sheet? Are they expecting a 25x development margin going forward?
Atleast management earned a cheeky half a $Bil in share based comp while all the weird hype lasts.
Ann: Goodman 30 June 2024 Full Year Results, page-6
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$35.65 |
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Mkt cap ! $68.66B | |||
| Open | High | Low | Value | Volume |
| $35.35 | $35.68 | $35.35 | $7.804M | 220.3K |
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| No. | Vol. | Price($) |
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| Price($) | Vol. | No. |
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