A good thread Daicos is god, Here are my thoughts1H23...

A good thread Daicos is god, Here are my thoughts

1H23 Normalised Cash Profit After Tax (“Normalised CPAT”) of $38.5m, up 2% on pcp

Based on these figures I expect a normalised CPAT of $40-$50 million the next half and continuing to improve next FY.

Current valuation as follows: FY CPAT $38.5m + $44.3m ($38.5 x 15%) = $82.8 Million

$82.8 Million / 554m shares = $0.1495 per share

The PE here is a bit tricky as there have been a long history of destruction of shareholder wealth especially after the BNPL problems and Latitude debacle. But a PE of around 6 I think is reasonable.

So 6 x $0.1495 per share gives us a valuation of $0.897 per share

But they also have approx. $103m in cash which is $0.18 cents per share,

So $0.897 + $0.18 = $1.077 per share