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
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Just to clarify I'm not saying my valuation is double the share...
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Last
$7.34 |
Change
-0.160(2.13%) |
Mkt cap ! $231.0M |
Open | High | Low | Value | Volume |
$7.43 | $7.43 | $7.34 | $2.498K | 338 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 1986 | $7.34 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$7.40 | 4725 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1986 | 7.340 |
1 | 141 | 7.270 |
1 | 138 | 7.230 |
1 | 500 | 7.200 |
1 | 305 | 7.180 |
Price($) | Vol. | No. |
---|---|---|
7.400 | 4725 | 1 |
7.500 | 1667 | 1 |
7.580 | 2032 | 1 |
7.600 | 2500 | 1 |
7.640 | 2500 | 1 |
Last trade - 15.53pm 26/07/2024 (20 minute delay) ? |
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FID (ASX) Chart |