I was just saying that the usual share analysis of Cap / PE / Price/Book / Div Yield etc should be based on total "equity" for NHC, not just the shares on issue today. Beware of the ratios used by the usual platforms.
The lack of disclosure of the noteholders is a governance issue. NHC discloses the absolute minimum rather than adopt some variety of ESG. Some say NHC disregards the E, some S and the G.
As an aside, the concept of funding via asian (ie customer) Notes is smart, and corresponds with the Whitehaven CEO saying that they will bond fund in Asia rather than seek debt in Oz. These NHC notes could well be a template for WHC to use shortly.
NHC Price at posting:
$2.49 Sentiment: None Disclosure: Not Held
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