EZZ life scienceAs we can now estimate their cash flow for Q4 24...

EZZ life science
As we can now estimate their cash flow for Q4 24 (thanks to the chairmain's disclosure of cash at 30/6/24), we can also estimate their NPAT for FY 24.
While the company had a cash flow from operation of - 0.7 m$ during H1 24, we can estimate that they had a cash flow from operation of at least 7.2 m$ during H2 24 (2 m$ for Q3 24 and 5.2 m$ for Q4 24).
As their NPAT is usually higher than their cash flow (due to depreciation and change in working capital), we can estimate NPAT to at least 8.1 m$ in FY 24 (1.1 m$ for H1 24).

It corresponds to a PE 24 of 9.1 x (share price : 1.69 $) and a PE 24 of 6.7 x if we remove the net cash from the market cap.

It is obvious that such a valuation does not correspond to the profile of the company of high growth, good level of profitability and high free cash flow yield (38 % based on its Q4 24 FCF estimated, annualised).
So, we have to look carefully if it is too good to be true.
Next press release in July (regarding cash flow for Q4 24) will probably be quite important to watch.
So far, I can't see any one off to explain such results for FY 24.

My main question remains whether the company has a significant level of repeat customers or whether they have to spend a lot in marketing to get new customers. The good results for H2 24 seems to indicate that they have reduced their level of promotion, which obviously goes in the right direction.