The more I look at this stock, the more I'm inclined to agree with you moreId. I don't think this is a high-teens or even 20x P/E stock.
Historically, it's traded around the 15x mark.
Like you say, earnings & revenue growth has been benign for quite a few years. With a current FCF yield of <5%, the current price implies this is being priced for some growth. Whilst the lumpy nature of IRI's earnings might lead to an uplift next year, I'm not convinced it has the ability to deliver sustained growth to shareholders. In which case, I require a higher earnings yield and a price of 70-80c seems like fair value to me.
p.s: The AUD depreciating against the USD might give it a bit of a kicker, but it's not a determining factor.
The more I look at this stock, the more I'm inclined to agree...
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Last
59.5¢ |
Change
-0.015(2.46%) |
Mkt cap ! $103.8M | |||
| Open | High | Low | Value | Volume |
| 61.0¢ | 61.0¢ | 58.0¢ | $343.4K | 583.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 700 | 59.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 61.0¢ | 3799 | 1 |
View Market Depth
| Last trade - 16.10pm 17/09/2024 (20 minute delay) ? |
| IRI (ASX) Chart |