It is tempting to take profits, especially in the event you used leverage to exercise options and had some holdings from prior. That being said, fair value based on Parimal valuation of 10x EV/Ebitda based on FY24 results is $4.81 by my rough calculations, and by time we get to FY26 if they can get Ebitda to $40 mil based on adding up average of longer term guidance given on SBI contract get $6.74. If they can execute on some of the Findipay ideas then the multiple could be higher, though I am sceptical as it is a far more complex space than ATM business. So for me I haven't been able to rationalise selling down at the moment, though did sell a bit towards end of last EOFY for tax purposes and to reduce leverage, and will probably look to do the same come next EOFY.
FND Price at posting:
$4.29 Sentiment: None Disclosure: Held
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