I may be wrong here and this is my humble view only but I see Myer as an extreme value proposition.
Buying MYR at a market cap of 245M today, you receive 200M in cash and a profitable business for a price of 45M. You get your money back in profit in 1 year and cash flow 3x-4x of what you've paid for the business in the same year. In one year from now, MYR will be a pure cashbox where you get business for free and even extra cash for free at this price.
The only disappointment today was drop in sales of -13%, larger than that of David Jones, although there are differences in locations and sizes of their stores.
My personal opinion only, not an advice of any sort.
cashbox with a business thrown in for (almost) free
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Last
64.5¢ |
Change
-0.015(2.27%) |
Mkt cap ! $536.5M | |||
| Open | High | Low | Value | Volume |
| 66.0¢ | 66.5¢ | 64.0¢ | $980.4K | 1.504M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 11768 | 64.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 64.5¢ | 95425 | 2 |
View Market Depth
| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| MYR (ASX) Chart |