based on Labour Hires half year EBITDA of $3.8m and allowing for the 2nd half normally being approx $1m weaker than first half and after deducting head office costs of $2m we should be looking at NPBT for the full year at just under $4m for the labour hire business (excluding an training impact). Even if they pay the a full tax rate of 0.30% going fwd (which they wont due to accumulated losses) this gives a NPAT of $2.8m which gives a trading PE of 4.8x. Big assumption but if this NPAT is sustainable ASH should be trading at a PE of at least 7x giving a minimum share price of 13c. So at current levels, this should be a buy?
Fair value
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Last
25.5¢ |
Change
0.005(2.00%) |
Mkt cap ! $36.71M | |||
| Open | High | Low | Value | Volume |
| 26.3¢ | 26.5¢ | 25.5¢ | $5.252K | 20.00K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 158986 | 25.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 26.5¢ | 4000 | 1 |
View Market Depth
| Last trade - 15.47pm 26/07/2024 (20 minute delay) ? |
| ASH (ASX) Chart |