Your figure includes goodwill write downs, which are non cash items and doesn't affect WOW's ability to distribute its cash profits. It does not impact WOW's ability to pay a ~4.5% gross dividend yield per year on its shares. This is what many investors care about at the end of the day - the ability for the business to pay a stream of dividends to its owners each year.
FMG is a completely different industry and can't be compared to WOW directly. For one, the iron ore price can tank hard at some point in the future, and then FMG's profits may evaporate. Mining company profits tend to be cyclical - they are very good when metal prices are high, and poor when metal prices are low. WOW on the other hand enjoy steady demand for its services year in year out, so you can reliably estimate future profits.
The WOW debt figure you quote of $16.7b is way off. Their borrowings are $4.5b. Are you including things like their $12b of lease liabilities? Lease liabilities isn't actual debt. It's basically your future rent obligations.
I think it would help if you brushed up on accounting basics. That way you'll see that WOW actually does make a profit and isn't as overvalued as you believe it is.
WOW Price at posting:
$32.52 Sentiment: Hold Disclosure: Held
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