there is a key mistake that you've used $/t of difference in ebitda vs $/t in NPAT..
As earnings go lower, so will income tax. They may use additional depreciation this year such that their assets are less taxed later and they get a tax credit this year in real cash flow.
The NPAT is uncertain but your calculations are likely to be lower than the real cash flow (rather than reported NPAT which includes asset adjustments) and that's what investors will look at for the PE in this situation.
I could see BHP hitting half what it is now. If it hits $4.74 there would need to be even more pain.
You've also forgotten the other assets (coal, gold, and copper)... although they aren't a bright picture atm either.
- Forums
- ASX - By Stock
- BHP
- Fair value $4.74 per share
Fair value $4.74 per share, page-52
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add BHP (ASX) to my watchlist
|
|||||
Last
$40.67 |
Change
-0.270(0.66%) |
Mkt cap ! $206.2B |
Open | High | Low | Value | Volume |
$40.68 | $40.79 | $40.53 | $235.7M | 5.786M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 250 | $40.65 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$40.68 | 8347 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 250 | 40.650 |
1 | 1000 | 40.620 |
2 | 325 | 40.600 |
1 | 2 | 40.560 |
4 | 1693 | 40.550 |
Price($) | Vol. | No. |
---|---|---|
40.690 | 543 | 1 |
40.730 | 1388 | 1 |
40.740 | 1000 | 1 |
40.760 | 950 | 2 |
40.800 | 30 | 1 |
Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
Featured News
BHP (ASX) Chart |
The Watchlist
SER
STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
SPONSORED BY The Market Online