Just revisiting some key points:
- Current share price of $1.07 gives us a market cap of $400m
- Sentenial selling for $54m brings EML into net cash position of $30m+
- Current underlying operating cashflow of $40m+ ex PCSIL
- Current underlying Free cash flow of $30m+ ex PCSIL
- Current annual interest revenue excl PCSIL of approx $45m
- FY25 ebitda estimates of $62m+ as per forecast from Edison Group assuming nominal customer growth of under 10%
Based on current share price this provides us with an estimated future enterprise value of under $340m at FY25 or an EV/EBITDA multiple of approx. 5.5
Recently, Nuvei received an offer circa 14x EV/Ebitda.
Further potentials
- FCA to lift growth cap on PFS UK
- $10-15m reduction in overheads by H2 2024
- Net FTE reduction of 10% by FY25 (current employee costs annualising at $90m+ but that's including PCSIL)
- Optimisation activities to improve Interest yield on float - currently @2.54%
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Just revisiting some key points:Current share price of $1.07...
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Last
90.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $339.5M |
Open | High | Low | Value | Volume |
90.0¢ | 93.0¢ | 90.0¢ | $382.8K | 419.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 12480 | 90.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
91.0¢ | 4068 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 12480 | 0.905 |
4 | 42362 | 0.900 |
1 | 10000 | 0.895 |
3 | 11224 | 0.890 |
2 | 42775 | 0.885 |
Price($) | Vol. | No. |
---|---|---|
0.910 | 4068 | 1 |
0.920 | 54488 | 5 |
0.925 | 14391 | 3 |
0.930 | 36892 | 4 |
0.935 | 20000 | 1 |
Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
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EML (ASX) Chart |