SEQ Sequoia Financial Group.

[Rawz]

Anyone still holding SEQ? I see they have done a deal to sell a part of the business and will be left with net cash of $40m.

I did a back of the envelop calc and looks like trading on a EV/NPAT multiple of 5-6ish

[stoploss]

Anyone still holding SEQ? I see they have done a deal to sell a part of the business and will be left with net cash of $40m.

I did a back of the envelop calc and looks like trading on a EV/NPAT multiple of 5-6ish

Note the sale already hit a hiccup at the first payment date ..... Yes I have them. Be good if he would payout the money from that sale .However it looks like he is going to keep bolting on small acquisitions like the one announced yesterday.
Pretty stable company , but no fireworks .....

[Joshuatree]

Back in recently re 53.5c.Looks like value adding up soon,to me.

[aperitif]

$35m of its ~$70m market cap is cash;
Targeting 25% annual revenue growth;
Forecasting a 5c (~10%) fully franked dividend;
With forecast EBITDA of ~$10m it is trading on ~3.5x EBITDA;
With forecast NPATA of ~$7m it is trading on ~10 PER (notwithstanding its large cash balance adjusting for the cash held would it put it on a 5x PER); and
Strong medium term growth aspirations: $24m EBITDA by FY26 (with a target $20m cash balance, implying (if achieved) a 2x EBITDA valuation.

https://dmxam.com.au/wp-content/uploads/2023/11/DMXASF_October_2023_Investor_update.pdf

[percy]

$35m of its ~$70m market cap is cash;
Targeting 25% annual revenue growth;
Forecasting a 5c (~10%) fully franked dividend;
With forecast EBITDA of ~$10m it is trading on ~3.5x EBITDA;
With forecast NPATA of ~$7m it is trading on ~10 PER (notwithstanding its large cash balance adjusting for the cash held would it put it on a 5x PER); and
Strong medium term growth aspirations: $24m EBITDA by FY26 (with a target $20m cash balance, implying (if achieved) a 2x EBITDA valuation.

https://dmxam.com.au/wp-content/uploads/2023/11/DMXASF_October_2023_Investor_update.pdf

They no longer pay their dividends with cheques,and will only pay dividends into Australian held Bank accounts ..

[aperitif]

Cheques??? Wow.

Recommend you sign up for Interactive Brokers. Garry has been buying back too

[percy]

Cheques??? Wow.

Recommend you sign up for Interactive Brokers. Garry has been buying back too

Well for a financial services business not being able to direct credit into my NZ a/c raises questions,considering a scaffolding business,a kitchen manufacturer and retailer,together with an aircraft engine repair business manage to do so.
As I could not receive my last dividend I donated it to charity then sold my SEQ shares.

[Rawz]

They no longer pay their dividends with cheques,and will only pay dividends into Australian held Bank accounts ..

This is why I have all my Aussie holdings via Shareies. Cant be bothered with managing all that admin. Leave it to them via the custodial system

[percy]

This is why I have all my Aussie holdings via Shareies. Cant be bothered with managing all that admin. Leave it to them via the custodial system

Shareies is an idea.
What I like about Craigs is a trade I did earlier this year.
Rang them late afternoon.Buy 2CC in NZ,sell BLV.L in UK.
Next morning received the contract for both trades.BLV.L proceeds covered the 2CC purchase.
Last Friday sold some KMD in NZ and added to my XTE in Aussie.
Now I very much doubt I could do these trades with Shareies .
Another Aussie company that had no touble paying my divie into NZ bank a/c was a drilling company.
So why can't a Financial Services Company look after their NZ shareholders.?

ps.All was OK with SEQ while they had a DRP.

[nztx]

Well for a financial services business not being able to direct credit into my NZ a/c raises questions,considering a scaffolding business,a kitchen manufacturer and retailer,together with an aircraft engine repair business manage to do so.
As I could not receive my last dividend I donated it to charity then sold my SEQ shares.

You've found another of these - Percy - "aircraft engine repair business" ?

I recollect one in this sector that got taken over previously listed on ASX ..