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1.64%

30.0¢ cardno limited

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Germantheologist

695 Posts.

18

29/06/19

21:11

Post #: 39304058
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Originally posted by CaptainBarnacles: ↑

Well you might get the impression from the chart that they market expected CDD to miss the consensus EBITDA. Details will be important, but if the US and Intl Dev is turning around, that is a good start. They will need to focus on Aus if they get that right, by the looks.

They haven't made any short term promises, so market should not be judging CDD so harshly, if the turnaround is taking time.

EV of about $500m AUD, U EBITDA of about $60m. 8.3x if you take the underlying at face value. That isn't expensive for a consulting business. You might very roughly expect about 11x for similar businesses that don't need fixing up.

If you imagine CDD being "fixed", you might be looking at EBITDA of (say) $80m, EV multiple of 11x, same debt, $1.75. If lots of work turns up it could be double that in good times, and the multiple higher too, and in worse times still better than it is now if the business is operating effectively. I suspect crescent will be waiting for the next good times when Cardno and others have pricing power, and that is when they will exit.

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Try a 7 multiplier these days

CDD Price at posting: 94.5¢ Sentiment: Sell Disclosure: Not Held
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(20min delay)
Last 30.0¢		Change -0.005(1.64%)		Mkt cap ! $11.91M

Open	High	Low	Value	Volume
30.5¢	30.5¢	29.5¢	$6.286K	20.72K

Buyers (Bids)

No.	Vol.	Price($)
3	34894	29.0¢

Sellers (Offers)

Price($)	Vol.	No.
30.0¢	74413	1

View Market Depth

No.	Vol.	Price($)
2	450	0.290
2	15446	0.280
1	24668	0.275
1	10592	0.270
1	7702	0.265

Price($)	Vol.	No.
0.305	188222	2
0.310	99811	1
0.320	966	2
0.330	2142	1
0.335	66203	2

Last trade - 14.20pm 01/05/2024 (20 minute delay)


Last 29.0¢			Change -0.005 ( 4.92 %)
Open	High		Low	Volume
30.5¢	30.5¢		29.0¢	1200
Last updated 15.09pm 01/05/2024 ?

CDD (ASX) Chart

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