Hi Karcus, this follows on from what I was implying in my post yesterday saying UBS math was wrong.
they simply cannot mean to justify current share price needs $175B sales per year.
your example or even a more conservative result using 1% NTM shows the sp would be worth many multiples more!
I can only guess the following line from the AFR article “The current Afterpay share price infers $175 billion of merchant sales would be made over the platform by fiscal 2030, which UBS calculated would require around 47 million customers” means cumulative merchant sales, not yearly sales?
which would then mean there would be much lower requirement for number of users and sales per user.
anyone have the ubs report so we can see their workings?
APT Price at posting:
$31.97 Sentiment: Hold Disclosure: Held
