1. I never said Equity deserved the same multiple as cash, that would mean a valuation of $28 for fmg.
2. I clearly said investors need to discount with a margin of safety, if I wasn't adjusting for risk the valuation would be either $28 at the cash rate, or well over $9 at your 10% figure, the original posted was claiming $5.50 was over valued, thats the price I was responding to.
3. as I laid out in another post, that is largely covered by the depreciation and amortisation charge
Iron ore price, page-863
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Last
$22.41 |
Change
-0.210(0.93%) |
Mkt cap ! $68.99B | |||
| Open | High | Low | Value | Volume |
| $22.36 | $22.61 | $22.30 | $82.59M | 3.681M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 500 | $22.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $22.42 | 11435 | 2 |
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| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |