I like to look at long term charts and look at how the charts reflect changing circumstances and the plans that companies make around those changing circumstances.
The biggest theme in the above chart is the winding down of the LCS program- mature projects, all else being equal, yield higher margins than less mature projects.
The rest of the chart sets out progress towards replacing the LCS dollars. Can you see on the chart where Old Mate gifted ASB dollars toward a steel shipyard? Then you can see contracts missed and other setbacks. Oh, and somewhere in there is a pandemic.
Looking at the chart, considering sound financials, steel ship yard built and steel ship contracts won...
And recognising that current projects not as mature as LCS and less lucrative anyway...
Fairly happy at current SP to be holding with a paper loss that means that I missed the bottom again.
IMHO DYOR
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I like to look at long term charts and look at how the charts...
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