just 3 problems with that. 10% discount rate? Bit low I reckon,...

just 3 problems with that. 10% discount rate? Bit low I reckon, but debatable at least.

20% growth for 20 years, that is a joke, while the npata increased off a low base this year, there is no evidence for this sort of future growth. And how you can project it for 20 years is just nonsense. You are saying it will be roughly 60 times or $480m in 20 years having been “only” $250m in 17 years.

You could possibly do a dcf assuming 50% growth for 2 years then slowing down. This might get you to a valuation that partly explains the current share price if you are optimistic. But it is unclear that it can achieve this.