So took another look at the PTL presentation, my observations:
- First time HwB has taken front spot as the dominant segment.
- HWB 62% vs Pental Brands 38% of earnings.
- $8m NPAT if full year and no debt valued at 8.2x P/E
- 70% payout ratio equals 10.6% gross dividend yield
- Pondering if they could spend $20m in debt during the next recession for another opportunistic acquisition, go 2x NPAT into gross debt to increase NPAT by 20-30%.
The main question for me is how will HWB hold up after having such a strong pandemic run increasing it's NPAT by 700% over the past 3 years. Will have to do some amateur analytics to get some confidence in that. But even if there is some mean reversion say earnings decline by 33% it would only take the P/E up to 10.5x.
I like the earnings profile more than ever for stability and upside longer term, I do think the e-commerce boom is over so stock multiple is unlikely to change too much anytime soon so would be more of a dividend play.
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Last
19.5¢ |
Change
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Mkt cap ! $33.24M |
Open | High | Low | Value | Volume |
20.0¢ | 20.0¢ | 19.5¢ | $1.501K | 7.67K |
Buyers (Bids)
No. | Vol. | Price($) |
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4 | 90326 | 19.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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20.0¢ | 81986 | 2 |
View Market Depth
No. | Vol. | Price($) |
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4 | 90326 | 0.195 |
3 | 1276837 | 0.190 |
3 | 159354 | 0.185 |
5 | 61396 | 0.180 |
2 | 114290 | 0.175 |
Price($) | Vol. | No. |
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0.200 | 81986 | 2 |
0.205 | 189090 | 2 |
0.210 | 39000 | 2 |
0.215 | 89000 | 3 |
0.220 | 340600 | 4 |
Last trade - 15.32pm 30/05/2024 (20 minute delay) ? |
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Last
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Change
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Open | High | Low | Volume | ||
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Last updated 11.23am 30/05/2024 ? |
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