The place to look beyond the noise is operating cash flow. In this case it is awful, and assets over liabilities in cash is only $12m $3m NPAT before what they call an abnormal is not a business that should be valued at $1 billion , more pain to come in my view.
Business where price discounting is your driver have been very cyclical with no MOAT to protect the oncoming competition.
I could see this stock back to $5 if the half year does not improve and what they call abnormal such as FX losses re appear in future accounts.
Strange past FX gains were not abnormal
Ann: Kogan.com FY21 Results Presentation, page-85
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Last
$4.28 |
Change
-0.050(1.15%) |
Mkt cap ! $431.5M | |||
| Open | High | Low | Value | Volume |
| $4.42 | $4.43 | $4.26 | $3.129M | 722.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 500 | $4.27 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.29 | 742 | 1 |
View Market Depth
| Last trade - 16.10pm 06/06/2024 (20 minute delay) ? |
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Last
$4.28 |
Change
-0.050 ( 1.26 %) |
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| Open | High | Low | Volume | ||
| $4.40 | $4.43 | $4.26 | 95896 | ||
| Last updated 15.59pm 06/06/2024 ? | |||||
| KGN (ASX) Chart |