Ann: HY21 Results Investor Presentation, page-4

I started thinking about where the SP should actually head to.

Oustanding Shares 431m
NOPAT = $50m with potential upside surprise

If we say similar businesses are valued at say 8 X NOPAT that would mean CDD should have a value of around $400m

Take the $400m and divide it by the outstanding shares and you get $0.928/share

Have I missed something?