MYE 2.70% 18.0¢ metarock group limited

Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-4

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  1. 233 Posts.
    lightbulb Created with Sketch. 95
    DYOR, but my workings are as follows:

    Market cap $64m
    Net cash $22m
    EV $42m
    Continuing EBITDA $50m - PYBAR ~$22m = $28m
    Continuing EBIT $28m - ~$8m Depn = $20m - estimate for loss of contracts ~$4m = $16m

    EV/proforma EBIT = 2.6x - my view is 5.0x is appropriate

    This is all before any new contracts and/or acquisition (dare I say the word!)
 
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