I agree that 20 times is a high multiple, and not one that I would willingly pay. However turn the number over and it is a five percent return. It is a concern that they are diversifying internationally and into education.
However - if these diversifications do not produce a high return on shareholders funds, SEK can go back into its shell, start buying back their own shares, or pay big divs, and still produce the growth in SP (with a few minor write-offs). I don't see why they wold go totally underwater on any of these investments. Anyway - so far so good with the diversification.
What is very interesting is how this recession is crushing their competition's profit margins.
The main risk I see is that a competitor starts to offer a good on-line service free of charge. However I think the demand for the service is driven by the jobseekers expectations, and is paid for by the advertisers. I think a free site will have trouble attracting the job-seekers with minimal investment or revenue.
So I'm in, but expecting volatility in the sp. Once market recovers - back to 20 times NPAT.
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Last
$21.57 |
Change
0.000(0.00%) |
Mkt cap ! $7.700B |
Open | High | Low | Value | Volume |
$21.62 | $21.72 | $21.51 | $5.123M | 237.0K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 1934 | $21.57 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$21.58 | 200 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
12 | 1092 | 21.570 |
10 | 414 | 21.560 |
7 | 598 | 21.550 |
11 | 1079 | 21.540 |
15 | 1285 | 21.530 |
Price($) | Vol. | No. |
---|---|---|
21.590 | 1704 | 20 |
21.600 | 552 | 6 |
21.610 | 601 | 5 |
21.620 | 306 | 2 |
21.630 | 1207 | 5 |
Last trade - 12.46pm 22/08/2024 (20 minute delay) ? |
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