I was a bit rushed this morning given the share price action. Here is the better calculation:
We were provided with the segment breakdown:
This means:
We know the number of advisers (2127). We know the avg. subsidised fees ($19k). We know the amount of grandfathered commissions ($11.5m). We were told segment gross profit was $21.4m.
Using 1800 advisers x $30k and assuming zero commissions, you can see gross profit will increase slightly in FY20, and climb substantially in FY21.
This is just the advice side of the business. The 'Funds Management and Administration' division is already soaring.
In my view this is a slam dunk/no-brainer BUY.
I was a bit rushed this morning given the share price action....
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Last
41.5¢ |
Change
-0.005(1.19%) |
Mkt cap ! $82.53M | |||
| Open | High | Low | Value | Volume |
| 42.0¢ | 42.5¢ | 41.5¢ | $22.37K | 52.99K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 34930 | 41.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 43.0¢ | 46511 | 1 |
View Market Depth
| Last trade - 15.47pm 29/07/2025 (20 minute delay) ? |
| CAF (ASX) Chart |