not 5All the below is my opinion only, do your own sums.If you...

not 5

All the below is my opinion only, do your own sums.

If you want to take the middle...
H1 5.33 moving to H2 10.94

or 8.13

Small stock and not many look at it. The current 0.225 is assuming it has no growth for the next 2 years.

If you take the announcements at face value and if you consider the time value of money using 5% NTC is worth about 60c right now on worst case scenario and more than a dollar in 18 months to a year on mid case scenario.

It depends what the assumptions are and how they priced the dollar. The dollar is punishing for exporter profit at the moment, but if it falls a bit you can probably look at the higher range scenario of $1.20 and visa-versa $0.77 in 18 months.

What it is worth and what people pay are two separate things.

All this is based on EBITDA, which is not very fashionable atm. You also have to factor in expansion, dividends, risk, black swans, missing contracts etc etc. As someone also pointed out, the "fall"'s in the report hide what is happening. Netcomm as a company is managed in a low risk way though.

I think they made an honest mistake last year assuming instant overseas ongoing earnings following the Telstra injection, but it has taken an extra year or so to gear up the overseas growth.

All good so far. If the dollar stays high they may buy something, maybe in America.