PPM 1.74% $1.47 pepper money limited

I may be what you referred to as "half a brain" as I bought this...

  1. 52 Posts.
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    I may be what you referred to as "half a brain" as I bought this pre-IPO.

    How digilient would they be presented to investors, I can't comment, but what they presented to ATO (EOFY financial reports) had to be audited and true.

    At IPO price of $2.89, it was only priced at 10.5x 2021 NPAT or 13x 2020 NPAT ($1.3b IPO market cap / $99.4m NPAT).

    At $2.61, the market cap is just $1.15b, pricing at 11.5x 2020 NPAT ($1.15b / $99.4m NPAT)

    Compared this with liberty financial group (LFG), which is currently trading at 16x 2020 NPAT ($2.16b market cap / $134m NPAT), 39% cheaper!

    Should Pepper be trading at same multiples with LFG, it should be priced at ~$3.61.

    Please correct me if I am wrong.

 
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