There is a case to build that fair value is above 70c just based on a multiple of 12x current earnings run-rate. Its just that coming on HC and saying stuff like that sounds like you're ramping!
Which is why I've stuck to more conservative valuations.
But if you take $1.75m NPAT run-rate of FY16 so far and put it on a multiple of 12x you get 68c fair value. That would still be within the range of what the other recruiters are trading on.
Then consider that 2H is usually stronger than 1H and theres actually a very strong case for valuations in that range.
Ann: Unaudited Revenue Guidance July - August 2015, page-14
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