Just to clarify I'm not saying my valuation is double the share price. There would only be a change of control if Indy Singh decided he wanted to boost his retirement fund. In such a case the PE at face value could look rather high because of all the overheads an acquirer could strip out. At first glance you could strip out around $2m pa pre tax of costs from the elimination of director fees, audit costs, rent and ASX listing costs. On a post tax basis that would increase FY15 cash profit by around 25%. I suspect there would be more taken out given FID is small with a high cost to income ratio.
Assuming business as usual I value a stock like FID at around 14-15x forward NPATA with some adjustments for any excess cash. An EV/EBITDA of 10x gives a similar result
The Overhang Part 5 Elimination Party ?, page-20
-
- There are more pages in this discussion • 22 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add FID (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$7.45 |
Change
-0.020(0.27%) |
Mkt cap ! $234.5M | |||
| Open | High | Low | Value | Volume |
| $7.48 | $7.51 | $7.45 | $113.4K | 15.20K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1010 | $7.45 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.50 | 3415 | 2 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| FID (ASX) Chart |