Overall a good report and outlook looks good with a slow and substained build up, including increasing long term service revenue on the cumulative amount of the vessels sold.
Shares on issue 350 million. At SP of $1.77 that's a mkt cap of $620m.
NPAT for FY18 is $39m and so the PE is a little less than 16.
Given the order book of $3 billion, and an expectation of ongoing orders, ASB can keep the revenue going at similar levels and with the improved margins, profit can increase a small percentage per annum.
So I would think a PE of somewhere around 18 would be reasonable.
Based on that simple analysis, a share price rising to $2.00 would make sense to me.
(And I know, sense doesn't always takes priority in the share market)
Ann: Austal FY2018 Annual Results Presentation, page-3
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$3.17 |
Change
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Mkt cap ! $1.072B | |||
| Open | High | Low | Value | Volume |
| $3.08 | $3.20 | $3.03 | $6.129M | 1.943M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 5788 | $3.15 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.18 | 597 | 1 |
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