EPS of 53.6 cents for the half based on $53.8 billion average FUM.
If we are generous and assume they average the current $46.2 billion FUM across the half - if profit % remains consistent, then 2H 2023 generates EPS of 46 cents. Annualised that is EPS of 92 cents.
In reality, FUM is still falling and profit margin is likely to decline further in % terms than the % decline in FUM.
My view is that the current share price has already baked in an assumption that FUM & profit stabilises at a PE of 10. That suggests there is still quite a bit of downside given stabilising FUM is an optimistic assumption at this stage.
This is not advice - seek your own professional advice.
Valuation still looks convincing, page-178
-
- There are more pages in this discussion • 9 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add MFG (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$9.95 |
Change
-0.070(0.70%) |
Mkt cap ! $1.779B | |||
| Open | High | Low | Value | Volume |
| $10.04 | $10.13 | $9.92 | $3.725M | 372.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2494 | $9.95 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.00 | 45242 | 13 |
View Market Depth
| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| MFG (ASX) Chart |