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
Just to clarify I'm not saying my valuation is double the share...
Add FID (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$7.35 |
Change
-0.050(0.68%) |
Mkt cap ! $231.3M | |||
| Open | High | Low | Value | Volume |
| $7.44 | $7.48 | $7.35 | $38.97K | 5.247K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1453 | $7.31 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.40 | 762 | 1 |
View Market Depth
| Last trade - 16.10pm 10/07/2024 (20 minute delay) ? |
| FID (ASX) Chart |