Yep, had something wrong in my calcs...I usually find it after...

First 6 Last

Share
Profile

Follow
Klogg

3,732 Posts.

513

24/02/22

15:12

Post #: 59794987
Share

Originally posted by Klogg: ↑

So let me get this straight.

Using EBITDA as a proxy for Operating cash flow (pre-capex, etc.):
- FCF: $150m (lower end)
- Capex: $50m (higher end)
- Lease Liab (principal): $17m

FCF = $83m.

At the payout ratio mentioned, you're getting between $41.5m and $66.4m paid out, using the conservative end of guidance in each case.

With 175m shares on issue @ $2.47 (all figures in NZD), you end up with a MC of $432m, whilst swimming in cash.

So, buying this today, I'm getting:
- Minimum 19.2% FCF return post re-investment into the business
- 9.6% - 15.37% dividend yield, depending on the chosen ratio (possibly higher if you end up on the better side of guidance)
- A streaming service that's growing quite strongly
- A satelite business that's not really losing customers
- More cost savings to come in FY23

Am I missing something?

Expand

Yep, had something wrong in my calcs...

I usually find it after typing it up.

Lease Liabilities are $37m for the year. (using last year's figures)

So FCF should be $20m lower ($63m at the lower end)

SKT Price at posting: $2.37 Sentiment: None Disclosure: Not Held
3 Upvote

0 Great analysis

Reply

Top Stories

NUZ

This stock is crafting a cure for Huntington's – and it's making progress

RC1

Redcastle teams up with Terra Mining to get revenue flowing at Redcastle Reef, Queen Alexandra projects

THL

Today's top gainer stock isn't an energy player. Here's what's going on

Monday's HotCopper trends: 4DS falls short, $30B bid for Santos | June 16, 2025

Listen: HotCopper Wire Podcast 013 - They changed the IPO rules (and that's a good thing)

First 6 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

(20min delay)
Last $2.62		Change 0.020(0.77%)		Mkt cap ! $360.7M

Open	High	Low	Value	Volume
$2.59	$2.62	$2.55	$26.87K	10.35K

Buyers (Bids)

No.	Vol.	Price($)
1	3500	$2.59

Sellers (Offers)

Price($)	Vol.	No.
$2.67	312	1

View Market Depth

No.	Vol.	Price($)
1	3500	2.590
1	333	2.550
1	6753	2.410
1	9000	2.400
1	4365	2.290

Price($)	Vol.	No.
2.670	312	1
2.680	333	1
2.690	1291	1
2.700	2833	2
2.790	179	1

Last trade - 14.45pm 16/06/2025 (20 minute delay)

SKT (ASX) Chart

Yep, had something wrong in my calcs...I usually find it after...

This stock is crafting a cure for Huntington's – and it's making progress

Redcastle teams up with Terra Mining to get revenue flowing at Redcastle Reef, Queen Alexandra projects

Today's top gainer stock isn't an energy player. Here's what's going on

Monday's HotCopper trends: 4DS falls short, $30B bid for Santos | June 16, 2025

Listen: HotCopper Wire Podcast 013 - They changed the IPO rules (and that's a good thing)

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Yep, had something wrong in my calcs...I usually find it after...

Top Stories

This stock is crafting a cure for Huntington's – and it's making progress

Redcastle teams up with Terra Mining to get revenue flowing at Redcastle Reef, Queen Alexandra projects

Today's top gainer stock isn't an energy player. Here's what's going on

Monday's HotCopper trends: 4DS falls short, $30B bid for Santos | June 16, 2025

Listen: HotCopper Wire Podcast 013 - They changed the IPO rules (and that's a good thing)

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News