Okay, now I see what you're misunderstanding. The point isn't that 2 x companies with the same market cap are divided by their number of shares to determine a SP and therefore BOT can't equal NEU. Of course it can't - 1.6b shares and 135m shares divided into the same number has different results.
The point that was trying to be made is that NEU earns ~$100m dollars annually. So their $100m divided by 135m shares = $0.74/share. Yet their SP is actually $15. So that's a PE multiple of 20.
If BOT were to earn $100m, then divide that by 1.6bn shares = $0.06/share. If we apply the same PE multiple as NEU obviously have had applied (to value 74c per share at $15 per share) then BOT shares have to be worth at least $1.20! Without consideration for anything else that will help drive their SP north such as their pipeline of successful products. That's why NEU is being compared to BOT in this case.
BOT - Anything but charting, page-6747
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Last
38.5¢ |
Change
-0.020(4.94%) |
Mkt cap ! $702.9M | |||
| Open | High | Low | Value | Volume |
| 40.0¢ | 40.0¢ | 38.5¢ | $1.331M | 3.404M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 27 | 1717037 | 38.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 39.0¢ | 327032 | 33 |
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| Last trade - 12.13pm 18/09/2024 (20 minute delay) ? |
| BOT (ASX) Chart |