On the basis of the trading update & letter to the shareholders, here are the numbers I have approximated.
Allowing for a 12.5% EBITDA margin in FY24
a 27.5% tax rate
& ~15.5m in d&a charges.
We get an NPAT of 102m, hopefully also resulting in excess cash of $300million.
An implied SP on a basis of a 18x price to earnings ratio is ~$7.00.
In the shorter term. the SP may well come under a lot of pressure as the CEO has flagged "disciplined investment" and sacrifice of bottom lines/margin now so that greater market share can be captured.
Investment returns between now and 2024 are likely to be skewed in to the right. (I.e over 12-18 months the SP may go backwards, but the market will realise and re-rate the stock when it delivers on its promises in 2024.)
On the basis of the trading update & letter to the shareholders,...
-
- There are more pages in this discussion • 23 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add ATG (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
38.5¢ |
Change
-0.005(1.28%) |
Mkt cap ! $110.4M | |||
| Open | High | Low | Value | Volume |
| 39.3¢ | 39.3¢ | 38.5¢ | $5.047K | 13.07K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 8523 | 38.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 39.0¢ | 19414 | 1 |
View Market Depth
| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| ATG (ASX) Chart |