I was asked about AMA in another thread, so I decided to provide my answer (after reading the last annual report) in this thread. The last annual report is for YE 30/6/11, so the situation could have changed for the better, and I expect it has.
The figures for YE 30/06/2011 look better than the normalised situation. Normalising requires subtracting from the net profit after tax: a) the tax refund; b) the tax normally paid on $63,160K; and c) one-off legal wins. If you calculate the normalised EPS, you get about 1 cent.
A target PER of 10 is too high for a company with about $20 million equity, very low liquidity (ASA only has about one trade a day on average) and high debt (about equal to equity). A target PER of 8 gives a target SP of 8 cents. Today's closing SP was 14 cents, which seems too generous, for AMA, unless there are better metrics of which I am unaware, or I have erred in my arithmetic. I do not hold AMA, and I am not looking to do so, so I have not spent much time looking into this matter, and could easily have erred in my assessment.
Net Profit - - - - - - - - - - - - - - -- $10,238K
- Net Tax refund received - - - - -- $3,922K
- Normal tax (30% of $63,160K) - $1,895K
- Legal wins - - - - - - - - - - - - - - $1,600K
Normalised NP - - - - - - - - - - - - $2,821K
Normalised ROE - - - - - - - - - - - 21.81%
Shares - - - - - - - - - - - - - - - - 277529385
Diluted normalised EPS cents - - - - - 1.02c
- Forums
- ASX - By Stock
- AMA
- normalise the metrics
normalise the metrics
-
- There are more pages in this discussion • 7 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add AMA (ASX) to my watchlist
(20min delay)
|
|||||
Last
4.8¢ |
Change
0.002(4.35%) |
Mkt cap ! $86.70M |
Open | High | Low | Value | Volume |
4.8¢ | 4.9¢ | 4.8¢ | $30.93K | 642.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 58694 | 4.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
4.9¢ | 121295 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 17132 | 0.048 |
1 | 250000 | 0.047 |
3 | 226000 | 0.046 |
5 | 635221 | 0.045 |
2 | 265822 | 0.044 |
Price($) | Vol. | No. |
---|---|---|
0.049 | 121295 | 1 |
0.050 | 385000 | 4 |
0.051 | 534782 | 2 |
0.054 | 200000 | 2 |
0.058 | 51741 | 1 |
Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
Featured News
AMA (ASX) Chart |