I think it's the debt holding it back. Having a look at a comparable company in Monadelphous that also released today:
MAH: Revenue $1.9 billion, NPAT $57 million, EPS 2.75 cents per share, dividend 0.75 cents per share. (30%) Market cap $334 million. Debt $200 million
MND: Revenue: $1.8 billion: NPAT $53 million EPS 56 cents per share dividend 49 cents per share (85%). Market cap: $1.3 billion (no debt???)
MAH and MND are of similar size in terms of revenue and profit. MND has a significantly higher payout ratio and nearly 4 times the market cap. Is the debt of MAH (which reduced from $215 million to $200 million this year) what holds its stock price and dividend back?
Reaper.
Ann: Macmahon FY23 Results Investor Presentation, page-3
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Last
29.0¢ |
Change
0.005(1.75%) |
Mkt cap ! $624.9M | |||
| Open | High | Low | Value | Volume |
| 29.0¢ | 29.0¢ | 28.0¢ | $319.2K | 1.118M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 320356 | 28.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 29.0¢ | 115975 | 4 |
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| MAH (ASX) Chart |