I’ve revised my valuation and will ask CFO Paul Ravlich whether based on disclosed info the assumptions are reasonable. Composite of 2 methodologies gives a $3.24 valuation.
ZNO FY2021
2 Valuation methodologies: Valuation assuming 60% of production sold at $20 per litre revenue with 67% gross margin Production 30000 litres x 250 days = 7.5M paAssume 60% sold 4.5M litres pa at $20 NZ$90M annual revenueGross margin 67% Gross profit $60MAdmin costs $6.4MCost of goods unsold $6M28% Company taxNPAT $34.4MEPS 34.4M/168.3m shares = 20 cents EPS
PE 18
Value $3.60
Second methodology
Valuation assuming modest increase in currently disclosed monthly salesOnline Revenue $175000 x 360 =$63M + $12m distribution agreements = $75MGross Profit $52.5M @ 67% gross marginAdmin costs $6.4Cost of goods unsold $6MPre-tax profit: $46.1M NZ 28% company tax rateNPAT $27.2MEPS 27/168.3 = 16 cents EPS PE 18
Value $2.88
Composite valuation: $3.24
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3.0¢ |
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Mkt cap ! $10.59M |
Open | High | Low | Value | Volume |
3.0¢ | 3.0¢ | 2.7¢ | $7.815K | 281.8K |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 105000 | 2.7¢ |
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Price($) | Vol. | No. |
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3.1¢ | 473963 | 4 |
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No. | Vol. | Price($) |
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1 | 105000 | 0.027 |
2 | 93923 | 0.026 |
7 | 232920 | 0.025 |
5 | 259317 | 0.024 |
1 | 70000 | 0.023 |
Price($) | Vol. | No. |
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0.031 | 473963 | 4 |
0.033 | 90909 | 1 |
0.034 | 7917 | 1 |
0.035 | 152000 | 3 |
0.047 | 30000 | 2 |
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