I have a SBF calculator. thanks to my technical excel...

I have a SBF calculator. thanks to my technical excel spreadsheet from high school the value is what I say it is.

But in all seriousness, I meant for MFG 36% holding to be worth its current market cap, BJ would have to achieve a $4.37b valuation.
Not saying it is worth that now, just that I think it is achievable in a 5 year time frame, and being the smart little bankers they are I'm sure they will wait for a favourable IPO environment.

This speaks volume. I mean look how quickly they climbed those ranks.


Set up costs are now largely sunk, So if they can maintain their quality they have up to date (no reason they won't) for another 5 years they have massive Revenue and NPAT potential, their business is pretty much at this point a fully built out, full service investment bank crushing Macquarie. We do know their revenue is $226m in '23 and operating expenses of $166m which still included some setup costs, we also know that those setup costs are now complete.

So lets grow the revenue by 20% per annum, strong but fair considering their current trajectory, that is $469m in 2027
Now let's carry their costs of $166m to account for the setup costs that were in 2023, no idea but lets call it $16m, fair. and grow expenses by 10% as they grown revenue but also refine margins, that gives us expenses of $220m in 2027
2027 gross profit of $247m

IPO in 2027 with Profit of $247 and a strongly growing IB puts a 18x on it....pretty snazzy really.

Hell even if you grow revenue at just 15% per annum its still only 25x at a $4.37b val

Plus I hear SBF will be conducting valuations for toothpaste from the cell, so nothing metric wise really matters lets just call it an easy $9 billion.