As a reality check, let's quickly build an abridged P&L for FY2024 from first principles; the company's presentation provides all the information we need:
EBITDA = $1.725 (they tell us that... bottom-end of guidance)
Less: D&A = - $780m (first-half was Dep was $343m and Amort was $40m, so together $383m, to which I add a bit more for conservatism sake)
=> EBIT =$945m
Less: Interest = -$125m (they tell us that)
=> Pre-Tax Profit = $820m
Less: Tax = -$220m (27% tax rate; they tell us that)
=> NPAT = $600m ... which is 30% higher than your $464m number and also around 15% higher than FY2019's earnings level (i.e., pre-Covid)
(So, if one strips out the Covid distortions, the business has grown.
Of course, they made $1.7bn worth of acquisitions over that period, so if one strips out the added earnings from the acquisition activity the organic growth hasn't done much at all, but that's a separate discussion).
.
As a reality check, let's quickly build an abridged P&L for...
- There are more pages in this discussion • 58 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add SHL (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$26.34 |
Change
-0.400(1.50%) |
Mkt cap ! $12.65B | |||
| Open | High | Low | Value | Volume |
| $26.29 | $26.69 | $26.26 | $47.26M | 1.790M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 38 | $26.33 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $26.40 | 403 | 1 |
View Market Depth
| Last trade - 16.10pm 26/04/2024 (20 minute delay) ? |
|
|||||
|
Last
$26.38 |
Change
-0.400 ( 1.90 %) |
||||
| Open | High | Low | Volume | ||
| $26.31 | $26.68 | $26.26 | 255431 | ||
| Last updated 15.59pm 26/04/2024 ? | |||||
| SHL (ASX) Chart |