To add to the discussion here is the history of the NZ Cards business:
Cost $275m Oct 2015
Quoted 8.8 times NPAT
NPAT equivalent $31.25m pa
History under HUM
2020 NPAT $19.8m ( covid impacted)
2019 NPAT $28.1m
2018 NPAT $27.7M
2017 NPAT $27.8m
Thoughts: Is it still worth $275m in this market? What price multiple today?
Extracts from article - link below:
"FlexiGroup's retail store credit card business will triple in size after securing New Zealand's Fisher & Paykel Finance for $275 million – its biggest acquisition to date.
Fisher & Paykel Finance's $NZ662 million in receivables.
The acquisition price is 8.8 times F&P Finance's pro-forma 2015 cash net profit after tax, taking into account expected synergies under FlexiGroup's ownership and 2.9 times book value."
disallowed/business/banking-and-finance/flexigroup-buys-fisher--paykel-finance-for-275m-20151027-gkj7t1.html
To add to the discussion here is the history of the NZ Cards...
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Last
82.0¢ |
Change
0.020(2.50%) |
Mkt cap ! $402.9M | |||
| Open | High | Low | Value | Volume |
| 80.0¢ | 82.0¢ | 77.3¢ | $1.802M | 2.238M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 13370 | 78.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 82.0¢ | 47158 | 2 |
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| Last trade - 16.10pm 20/09/2024 (20 minute delay) ? |
| HUM (ASX) Chart |