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
$26.05 |
Change
-0.160(0.61%) |
Mkt cap ! $80.20B | |||
| Open | High | Low | Value | Volume |
| $26.23 | $26.32 | $25.89 | $78.04M | 2.995M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4302 | $26.05 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $26.06 | 10834 | 1 |
View Market Depth
| Last trade - 16.10pm 13/05/2024 (20 minute delay) ? |
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Last
$26.04 |
Change
-0.160 ( 0.92 %) |
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| Open | High | Low | Volume | ||
| $26.24 | $26.32 | $25.89 | 458055 | ||
| Last updated 15.59pm 13/05/2024 ? | |||||
| FMG (ASX) Chart |