BW Equities Valuation, page-79

Agreed that increased revenue/cashflow is the way to a higher market cap.

I think they'll be redirecting cashflow to IT/marketing, to accelerate product releases - live data, fast transfers, order types, options, crypto, IPOs, subscription benefits, etc.

So cashflow will be good this quarter (skewed up from EOFY sale), but maybe will not grow much in the next year. However, they'll be focusing on revenue growth and market share, which is good in the medium term.

They're already in a position to make cashflow if they want to, but they're focusing on higher medium term cashflow instead. Can't complain about that.


A week ago, I noticed 'Indicative Price' added to the website. A nice small addition, which was missing previously. Say it catches us up from 60% of the features of Commsec to 61%. It'll be nice when medium size features start popping up quicker too.