The company looks solid & growing alot faster than $SSM. Higher gross margins also.
The acquisition of connect engineering looks fantastic IMO. Essentially paid $2.27m when you exclude cash from acquired company & would have seen a NPAT of $2.5m, that's over a 100% ROI!!! The sector trades on or about 5-7x EBITDA. FY22 forecast EBITDA is $34-$38m.
Let's pick the conservative figure of $34m EBITDA for FY22.
Lets use a 6x EBITDA multiple as this is around sector median.
$34m x 6x = $204m MC.
155.6m Shares out.
I believe it is fairly worth $1.30/share in FY22.
Based on a share price of $1.12 at close today I would expect a minimum return of 16% over the next year.
If management have been conservative with the EBITDA & they outperform with the connect engineering acquisition having a full year of operations & we hit the $38m EBITDA & use the 6x multiple should give us a share price of $1.46 in FY22, IRR 30%.
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Last
$2.15 |
Change
-0.010(0.46%) |
Mkt cap ! $382.9M |
Open | High | Low | Value | Volume |
$2.16 | $2.16 | $2.15 | $10.15K | 4.714K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 25 | $2.14 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.16 | 7282 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 25 | 2.140 |
4 | 12496 | 2.130 |
3 | 3910 | 2.120 |
2 | 19100 | 2.110 |
4 | 18353 | 2.100 |
Price($) | Vol. | No. |
---|---|---|
2.160 | 7282 | 1 |
2.170 | 2500 | 1 |
2.180 | 1148 | 1 |
2.190 | 20000 | 1 |
2.200 | 7447 | 2 |
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