Being Pedantic because one poster wants that
http://www.4-traders.com/AIR-NEW-ZEA...07/financials/
Consensus NTA as at 30 June 2016 $2.04 and as at 30 June 2017 $2.29, includes $112m of intangible assets listed in the balance sheet as at 31 December 2015, 9.9. cps for all the I.P. of AIR.
NTA metric comparison looks compelling compared to its peers.
Some people will want to buy at a discount to NTA taking into account recent issues and the potential loss from a possible VAH sale and quite frankly I can't say I blame them but that doesn't make a case of itself for me to sell this close to NTA so I for one will continue to hold.
He won't be reading this but I will have a dig at him anyway
Quote:
Originally Posted by
Roger
http://www.4-traders.com/AIR-NEW-ZEA...07/financials/
Consensus NTA as at 30 June 2016 $2.04 and as at 30 June 2017 $2.29, includes $112m of intangible assets listed in the balance sheet as at 31 December 2015, 9.9. cps for all the I.P. of AIR.
NTA metric comparison looks compelling compared to its peers.
Some people will want to buy at a discount to NTA taking into account recent issues and the potential loss from a possible VAH sale and quite frankly I can't say I blame them but that doesn't make a case of itself for me to sell this close to NTA so I for one will continue to hold.
Actually you are quoting the Book Value (or Net Asset Value) per share.
As any accountant should tell you this is different from
the Net Tangible Asset (NTA to his friends) per share which specifically excludes Intangible Assets.
In the case of Air New Zealand Intangibles (as they are sometimes called) is purely for certain items of [customised] software.
There is no other Intellectual Property on the books.
Whilst there is lot more to the value of an airline than a simple NTA multiplier and I personally consider current value to be well in excess of the current price I stick with my belief that owning airline shares is only for your multi-millionaire friends who have nothing better to do with their money.
Best Wishes
Paper Tiger