0.35x sales multiple implies this needs to hit over a billion in sales to justify. its only forecasting $65M wheel sales, so it needs to more than 10 fold its revenue. thats unlikely to happen without a massive expansion of the plant and which would require massive capital expenditures.
at $500m market cap, this is easily one of the most expensive stocks in the entire ASX.
IPO - Carbon Revolution Limited, page-137
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