From my estimates, the company will have made $1.7Bn in NPAT for the 6 months to 31 Dec. In addition, they should have $1.6Bn in Net Current Assets at 31 Dec.
Based on the capital allocation framework, a 20% payout would result in a $0.38 FF dividend, while a 50% payout would be a $0.955 FF dividend. Even at a 50% payout, the company would have a significant cash buffer of around $760Mn to buyback shares, prior to accounting for FCF generated in the first 6 months of 2023. And that FCF, even with NEWC at $250/t is still pretty extraordinary at around $425Mn/quarter (or around $0.50/share PER QUARTER).
Don't fall in love with a stock, but also don’t forget why you’re in it…
Target $18.72, page-4105
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Last
$7.09 |
Change
0.150(2.16%) |
Mkt cap ! $5.931B | |||
| Open | High | Low | Value | Volume |
| $7.00 | $7.17 | $6.99 | $56.08M | 7.917M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 137399 | $7.08 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.10 | 9407 | 2 |
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| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| WHC (ASX) Chart |