Gee, selling at 1/3rd of the book value you don't think those facts are in the stock?!
Look, normalized return on equity of 12% is not bad for a low margin business like this. That shows these people really do manage their costs. If they can maintain that 12% against equity, we are getting a simple return of nearly 36% against market cap.
We have new management with very relevant experience. So I expect better execution going forward. For example, he has been actively deleveraging the company, which pushes down enterprise value and pushes up our EBITDA margin against enterprise value.
If we get any significant movement on the national broadband network in the next two years, this stock will triple in under two months. Mark the post.
SSM Price at posting:
23.5¢ Sentiment: Buy Disclosure: Held
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