Yes, I agree. It is a decent business.
It was recently discussed on Friday on ****** by Claude Walker.
Difficult to know if it is a buy for me.
Obviously, the stock is cheap for a SAAS company with an EV/EBITDA of around 10 and a free cash flow yield of 5 %+.
Readytech has reached a high level of profitability (EBITDA margin around 40 %, in particular due to development costs which are capitalised and not expensed).
So what are the problems/risks :
- rather slow growth for a SAAS (10 % organic),
- not obvious to understand if they have a strong differentiation with a lot of existing competitors, in the HR, payroll business.
Except Microequities (which owns around 11 %), there are not yet many fund managers interested in this stock.
Under the radar?, page-2
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Last
$3.30 |
Change
0.070(2.17%) |
Mkt cap ! $395.4M | |||
| Open | High | Low | Value | Volume |
| $3.30 | $3.39 | $3.21 | $435.4K | 132.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 8686 | $3.21 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.30 | 29276 | 1 |
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| Last trade - 16.10pm 30/07/2024 (20 minute delay) ? |
| RDY (ASX) Chart |