This calculation probably overestimates NPAT and this would impact your valuation. The most recent announcement states they're getting JobKeeper payments which I though required a 30% reduction in turnover (revenue) to be eligible. I'm not familiar with the specifics of JobKeeper eligibility so correct me if I'm wrong there. However, a more realistic, but still crude, estimation of NPAT would be 1H20 + 2H19*(1-0.3)
VTG Price at posting:
95.5¢ Sentiment: Buy Disclosure: Held
