HUB 0.66% $43.35 hub24 limited

Please explain valuation, page-11

  1. 26 Posts.
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    current annual netflows are circa $7b ($3.1b for the half I think) - so that’s 3-4 years incl market movement without further escalation - plenty of room given around 3% market share.
    they need to keep the platform ebitda margin expanding - currently 40% whereas Netwealth recently reported 56%. I can see them both getting to circa 15-20% of the market each at this rate.
 
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