ones a real business the other is discretionary..
hardly a fair race.
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ones a real business the other is discretionary..
hardly a fair race.
Rawz - suppose you've upped your full year forecast .... NPAT $60m?
Jeez that puts MHJ on a PE of about 8 ....and if we do it the way like doing it and forget about the cash it's PE is just over 7
I just might get tempted ....tempted and not based on fundamentals is just being seduced
Before today i had $42.3m based on lower margins so down from $45.2m last year.
Probably still around mid $40m's thou?
why not back up the P&L items and use.. EBIDA.
"i think that, every time you see the word EBITDA, you should substitute the words bull**** earnings"
LOL- Charlie Munger
EBIDA is not EBITDA.
In this case would rather take a hard look at the reported P&L items.
NPAT is great but would rather in this case use EBIDA.
I personally never take depreciation or amortization out of any calculation unless i am calculating basic debt servicing ability.
EV/EBITDA, EV/EBITA,EV/EBIT all have there place but its gotten harder to do the EV calc with IFRS changes. Used to be you took market capitalisation and added debt & equivalents less surplus cash, now you need to add lease liabilities as rent no longer included above the EBITDA line. Then it also became the norm for EBItDA to exclude anything mgmt deemed abnormal
Brokers and companies love ebitda because it makes earnings sound bigger. I’ve been an EBIT man as depreciation is real. And npat just easier and better understood
Increase in cash position should mean an increase in DIV or a special surely.
Agreed A is real but it depends on life time of assets and that can vary business to business class.
Every investor may choose their view.
In this case prefer to take it out in the short term.
IE... next 24 months.
Once again the accounting PHD's have complicated or over complicated the theory and leads to contamination of the accounting data.
This thing is starting to look like a bit of a cash cow..
A pied piper and the customers in the loyalty program singing along behind..
A 100,000 taken out on from the sell side..