Ann: H1 FY22 Investor Presentation, page-4

Really curious to understand why this stock is so cheap.
Based on its IPO valuation (1.20 $), it had a PE 22 of 10.7, an EV/EBITDA of around 5 x and a dividend yield of 4 %.
Since then, the increase of the stock mainly reflects the increase of prospectus forecasts.

I suspect that it is partly due to its short listed story (listed in Dec 21).
The market may wonder if their high margins (10.5 % op margin) are sustainable.

Their past revenue growth has been quite decent : + 12 % CAGR between 2005 and 2021.
There were some acquisitions, but the organic growth looks also good : estimated at 8.1 % per year during that period.
Most recent figures have been even better, with an organic growth of 23 % during H1 22.

Good also to see that WH Soul Pattinson owned 2.9 % of the capital (at IPO).