Book value = function(discounted cash flows). Initial values are at cost and then assessed up/down by the directors every reporting date using independent valuations.
There are two scenarios to play with
1. Valuation as a going concern
2. Valuation under liquidation/buyout
If you think scenario 1, then you make your valuation based on how impaired you think future cashflows are going to be using current book value as a reference point.
If you think scenario 2, you can't exactly use the book value because someone else is going to have a different income yield and a lot of ppe will be written off.
It's not "clearly undervalued" - there is always the risk that books have been cooked for a while and smart money is out - but unlikely and at these prices worth a punt imo. Income is going to take a hit (how much is up to you to figure out), but unlikely to drop to the point of liquidation given how many people are still going to Westfield.
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Last
$3.27 |
Change
0.060(1.87%) |
Mkt cap ! $16.98B |
Open | High | Low | Value | Volume |
$3.25 | $3.30 | $3.24 | $24.75M | 7.572M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 159286 | $3.26 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.27 | 3651 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 15550 | 3.250 |
1 | 15550 | 3.230 |
2 | 2003 | 3.200 |
1 | 14132 | 3.190 |
2 | 19132 | 3.180 |
Price($) | Vol. | No. |
---|---|---|
3.290 | 1000 | 1 |
3.300 | 8603 | 3 |
3.310 | 17644 | 3 |
3.320 | 14132 | 1 |
3.330 | 15632 | 2 |
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