Forward consensus metrics look very tasty now. The 2024 metrics @ $1.47 look like: PE 9.9 with Underlying eps growth of 128%. Consensus is now assuming: $121m EBITDA for the full year, and cash from operations of $100m, capex $32m, free cashflow: $68m.
So even after the $14m purchase of the new vessel that leaves them with $54m in free cashflow which would put them into a net cash position of $70m odd. So MRM is potentially trading at 4x EV/EBITDA. 14% free cashflow yield against EV. With such a growth profile, this sounds way tooo cheap for me. Happy to continue adding into the endless sea of selling.
MRM Price at posting:
$1.48 Sentiment: Buy Disclosure: Held
