This isn't really correct. It depends entirely on the timeframe. Latitude charge as much as 11% to the merchant for longer interest free periods. Retail margins are >50% so 11% (or 4% for APT) is inconsequential).
Stop looking at multiples. Multiples don't mean anything anyone who says they do knows nothing of finance. This is because the NPAT is largely meaningless. Any accountant will tell the methodoligies to manipulate the number. Just check out the income statement to see what APT have done.
Why do you care what today's price is? Wouldn't you care more about the price in 2 years, when it could be anywhere between $20 and $200?
APT Price at posting:
$24.01 Sentiment: Buy Disclosure: Held
