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$1.80 healthia limited

Doesn't fuss me actuallyI am only focussed on the bottom line...

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gosouth

3,050 Posts.

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24/07/19

14:34

Post #: 39671008
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Originally posted by kittymittens: ↑

Just wondering if you guys also see their reporting of the effective multiples as a bit cheeky?

They calculate them based on total purchase price i.e. cash + clinic class shares but divided by total EBITDA (including minority interest they do not own). Technically it should be price paid over EBITDA they actually have ownership interest in. This seems to bump up the multiples by approx. 1x and also keen to understand how they value the clinic class shares. Surely they're trying to be a little cute there too i.e. undervalue the shares to make the multiples look smaller than they are.

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Doesn't fuss me actually
I am only focussed on the bottom line NPAT come report time, and EPS.
I have previously stated I hold the opinion that with roll-ups EBITDA might be a key acquisition metric, but for market valuation purposes we need to see efficient fall of earnings to NPAT and EPS.

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Gosouth

HLA Price at posting: 92.0¢ Sentiment: None Disclosure: Not Held
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