AFT Pharmaceuticals

[percy]

https://www.nzx.com/announcements/383045

Well I thought the results were pretty good... NPAT probably about $16m this year (a very rough estimate by me, probably a bit conservative).
If it is about 16m NPAT for FY22, this will mark the 3rd year in a row AFT has roughly doubled NPAT [$3.1m in 2020, $7.9m in 2021, $16m in 2022?]
Can they double it again in FY23? Quite possibly - and if so, the FY23 PE is just 15 (with a current market cap of $497m)... FY22 PE is 31x, an arguably conservative multiple in this market for a company growing very nicely indeed.

Thanks for your post trader jackson.I always enjoy them.
I too thought it was a good result,with a very positive out look.

[BlackPeter]

https://www.nzx.com/announcements/383045

Well I thought the results were pretty good... NPAT probably about $16m this year (a very rough estimate by me, probably a bit conservative).
If it is about 16m NPAT for FY22, this will mark the 3rd year in a row AFT has roughly doubled NPAT [$3.1m in 2020, $7.9m in 2021, $16m in 2022?]
Can they double it again in FY23? Quite possibly - and if so, the FY23 PE is just 15 (with a current market cap of $497m)... FY22 PE is 31x, an arguably conservative multiple in this market for a company growing very nicely indeed.

Are you sure you got your numbers right? I didn't go back to the company reports, but my data show for 2021 half the NPS then for 2020 which would not agree with your claim of doubling the NPAT, unless they quadrupled the number of shares. Did they ?

Anyway - analysts seem to have lower growth expectations than you do, and analysts err typically on the optimistic side :

https://www.marketscreener.com/quote...68/financials/

[Muse]

I actually rather like AFT although I am slightly under water on it. Have a small parcel to add some interest to the portfolio. Comfortable with it in the bottom drawer

[percy]

In a research note out today from Pitt Street.
Valuation of $6.09 to $9.29.
............................2021.................2 022................2023..................2024.
eps.........................8..................... 16.....................23.....................42
PE.........................64.1..................2 9.9...................21.1.................11.6
Interesting.?

[BlackPeter]

In a research note out today from Pitt Street.
Valuation of $6.09 to $9.29.
............................2021.................2 022................2023..................2024.
eps.........................8..................... 16.....................23.....................42
PE.........................64.1..................2 9.9...................21.1.................11.6
Interesting.?

2024 is a loong way ahead ... I am always amazed how exact these analysts can predict the future, even if they normally get it wrong ;

[percy]

2024 is a loong way ahead ... I am always amazed how exact these analysts can predict the future, even if they normally get it wrong ;

Yes looks as though they are being too conservative.?......................lol.
Remember time is the friend of a great company.

[BlackPeter]

Yes looks as though they are being too conservative.?......................lol.
Remember time is the friend of a great company.

True ... this will be a tough test for AFT ;

[peat]

report was missing EPS figures?

[Brain]

I actually rather like AFT although I am slightly under water on it. Have a small parcel to add some interest to the portfolio. Comfortable with it in the bottom drawer

I think you may have to use your snorkel for quite a bit longer. This share never seems to react to good news. The market (whoever they are) clearly doesn’t share the same view as people who write on this thread.

[Klaus129]

report was missing EPS figures?

https://static1.squarespace.com/stat...ember+2021.pdf