Who knows but its interesting looking back at annual FY18 results presentation of OCA. NTA was $1.04 as at balance date and went up 12 cps in the year from 94 cps in 2017.
NTA doesn't include development work in progress or the intellectual property value of all their consents obtained (but does include actual cost of getting consents). I would think at $1.10 at present OCA is trading right about in line with NTA at the half way point of the year in November and we're getting all the IP of the company including its stellar reputation for late stage care and the future IP value of resource consents already granted for nothing. Don't ever underestimate how hard it is to get resource consents for new or expanded villages. One of the absolute key's to this business is not only the key advantages of their business model in terms of churn rate but also the fact that it has years of future growth in its scale already consented ! When I see a really great business model with terrific IP thrown in for nothing I see a truly compelling long term investment proposition so this is my #1 listed investment position and #1 pick for 2019.
If it goes down a few more cents in the short term I won't be growing any more grey hairs over that. This is a long term bottom drawer stock and a fantastic vehicle to build wealth in a relatively defensive sector for the foreseeable future and in my opinion the investment metrics are awesome. Next dividend due in February which isn't that far away now.
DYOR though...this is just my opinion and is not advice.
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