VGW, page-556

1H 22 revenues at $1.5+ billion.
Assuming similar performance for 2H, we are looking at $3 -3.5 billion for FY22
At current Share price, VGW is valued at ~2.8 billion which is less than 1x RE. Blows my mind on how significantly undervalued it is, but also presents the opportunity to keep accumulating given the potential upside.

Agree to all your points below. Dont forget the growing dividends YOY and how high the dividend yield is at this prices. Also suggest looking at other analog companies that are currently listed, some of which are no where close to being profitable and trading at a much higher multiple. VGW is debt free, fully funded (reduces dilution risk), growing YOY and paying dividends, truly in a league of its own!

Share price on Primary Market is meaningless (lack of liquidity) if investors are in for the long haul and hopefully a listing. Personally, i will keep holding onto VGW stocks even after a listing if it keeps growing and paying dividends.