I already adjusted for NPAT. Slater has 260mil EBITDA according to most rosy estimations. EBIT is therefore around 220mil. Assuming no interest, max NPAT is circa 150mil.
Even if you think NPAT is higher, what do you think about the rest of my argument. Please don't nitpick, and address the whole argument.
SGH Price at posting:
60.0¢ Sentiment: Sell Disclosure: Held