I would like to invest, but………undervalued? At 28 times earnings, using npata as earnings, in a company with about $50m of debt it is hard to see how KPG is undervalued.
The business model is good and clearly working in Australia. But there are risks in the USA expansion. Brett locating there helps manage them but the road to the US is paved with lost capital.
KPG Price at posting:
$5.76 Sentiment: None Disclosure: Not Held
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