You are absolutely right. Normalised / underlying NPAT in the case of Humm is rubbish. The fact is this company has made almost zero profit in the last 5 years. Their book value over this period is about the same while their asset base has increased very substantially - ie. they are taking on more and more debt. That is why the stock keeps falling => there is much more risk and very little returns to show for it.
Humm Valuation - What is Sensible, page-108
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Last
46.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $226.0M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 57190 | 46.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 46.0¢ | 10350 | 2 |
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