Judging by the financials this needs a significant re-rate. Have a look at the 2021 Financials:
Comparing 2021 to 2017
Market Cap 2017
4,932
Market Cap 2021
6,063
Net Equity 2017
3,788
Net Equity 2021
6,197
Net Profit 2017
352
Net Profit 2021
369
Share Price 2017
12.59
Share Price 2021
9.46 now down at 7.88
Not only was the net assets (book value) lower than the market cap in 2017 the profit was lower as well, yet the share price was $3 more. We now have a share that is below book value $6B vs Market Cap of $5B and have more underlying net profit that 2017.
We also at present have a higher Net Interest Margin than in 2017 to actually drive profit in future years 1.87% in 2017 vs now 1.92%.
Again, patience needed here guys. We are in a significantly better financial position than 2017 at a share price of $12.59.....
Book value below market cap..
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 (20min delay)
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Last
$5.93 |
Change
0.040(0.68%) |
Mkt cap ! $3.911B | |||
| Open | High | Low | Value | Volume |
| $5.88 | $5.93 | $5.87 | $13.24M | 2.240M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 822 | $5.92 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.93 | 66233 | 14 |
View Market Depth
| Last trade - 16.10pm 08/05/2024 (20 minute delay) ? |
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Last
$5.91 |
Change
0.040 ( 0.59 %) |
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| Open | High | Low | Volume | ||
| $5.89 | $5.93 | $5.87 | 477131 | ||
| Last updated 15.59pm 08/05/2024 ? | |||||
| BOQ (ASX) Chart |