DSK - Potentially looking cheap but would have to predict what normalised earnings look like going forward. If there is another leg down (-25%) due to economic conditions it'd be getting to single digit PE if they can even match 2020 FY. I also noticed they had $30m net cash but when they needed to pay for an proposed acquisition they could only include $7m of that so figuring out if that cash is tied up in the business model or free to acquire earnings.
PTL - 2 seperate businesses, PTL legacy tracking for $2m NPAT, Hampers with Bite tracking for $5m NPAT. Again what does normalised earnings look like and the potential for this to be valued in single digit PE on a normalised going forward basis.
SGI - Roll up play if they achieve their metrics of 8% EBITDA at scale it looks cheap today, unsure about the likelihood of successful execution.
SLA - Declined 30% in 2 weeks off no news and valued at roughly 10 PE, so need more information to make sense of this but like the others looks cheap at around 10 PE. Doesn't strike me as a great business model with others in the industry having some troubles with franchisees etc... but network expansion has been a successful model for many services / retailers.
As far as tech goes I've been doing a read up of
NEA / AMX / 3DP - group of geospatial tech companies, it just feels macro-wise this is going to be high growth as an industry.
FDV - is on my radar though a competitors in their space Prosus has very small margins 3% NPAT compared to REA or CAR at 30% so not sure if developing nation classifieds can replicate ours for profitability or not.
SP3 - I've calculated could quadruple in value (based on historical multiples) if they can achieve $3m (50%) more revenue, which I don't think they can hence the intrinsic odds provided but any sign of a step chance in revenue growth and it'll be super interesting.
PTG - I was most interested to read it was your biggest tech holding. 1.5x revenue and cashflow breakeven with 50% of market cap in cash. I've always been fascinated by EOL, IFM types of SaaS who are super niche industry and just keep growing as a specialists with less competitors than billion dollar TAM types.
All in all I don't buy individual stocks unless I have a huge conviction so just cycling through some research. If 5000 on the ASX becomes available in the next 12 months pushing 6% fully franked index yield I'll load up on that otherwise try to find value in an individual investment.
