REA rea group ltd
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The last annual report for Mortgage Choice as an independent...

  1. jessicamel
    5 Posts.
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    17/11/22
    17:09
    Post #: 64838297
    The last annual report for Mortgage Choice as an independent company is FY20. Earnings per share was 75 cents.

    https://hotcopper.com.au/data/attachments/4845/4845044-690363e45800e3c8ddd444564fb866e0.jpg

    Prior to the acquisition announcement in March 2020, Mortgage Choice was trading at $1.195 per share. For $244 million for 100% shares, it was equivalent to $1.95 per share or 75% premium. PE ratio was 26x under 75 cents earnings per share.

    https://hotcopper.com.au/data/attachments/4845/4845048-d079ccbb018673ccf21bf9d7ee094924.jpg


    Given Mortgage had a 31% net profit decline from FY19 to FY20, it was a bad decision to buy a declining business at 26x PE ratio or 75% premium of the market price.

    REA Price at posting: $122.04 Sentiment: None Disclosure: Not Held
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    lightbulb Created with Sketch.  Great analysis
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Last
$240.49 		Change
5.750(2.45%) 		Mkt cap ! $31.77B
Open High Low Value Volume
$237.85 $241.00 $234.50 $34.48M 143.8K

Buyers (Bids)

No. Vol. Price($)
1 458 $239.60
 

Sellers (Offers)

Price($) Vol. No.
$240.79 1000 1
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