Current market cap of ~$11.9bn.
Less cash balance of ~$2.7bn = $9.2bn enterprise value.
$0.8bn earnings this qtr = $3.2bn pa against an EV of $9.2bn.
Hypothetically if they paid a special div returning all cash to shareholders, we’d be paid ~$0.90 per share (with a subsequent drop in the share price.)
Then if they paid 90% of earnings going forward as dividends, it would be a minimum 31% fully franked dividend.
A good post earlier by GT3loui suggests pricing has bottomed, so $0.8bn/qtr and $3.2bn/pa is likely a floor.
With growth prospects P680, P1000, Posco, Calix - call me crazy, but I’m glad to not be receiving a 31% div.
Looking forward to seeing price reflect value soon.
Ann: March 2023 Quarterly Activities Report, page-117
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Last
$2.85 |
Change
-0.030(1.04%) |
Mkt cap ! $8.582B | |||
| Open | High | Low | Value | Volume |
| $2.87 | $2.89 | $2.82 | $51.48M | 18.09M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 6942 | $2.84 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.85 | 129885 | 1 |
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| Last trade - 16.10pm 17/09/2024 (20 minute delay) ? |
| PLS (ASX) Chart |