Considering(1) that the amount of debt increase is a small fraction of dividends paid and
(2) that free cash flow, and various metrics to test earnings quality (FCF/EBITDA etc) are reasonably good
It is clear that accounting trickery is minor and MVF has generated decent and 'real' profits in the past few years. The key question obviously is whether it continues to do so. If the board believe they aren't going to meet guidance (15% NPAT decline this half, slight increase for the year) it would have suited them to announce this at the time of Morris' departure, to get all the bad news out of the way and pin the blame on the departing CEO.
The lack of such an announcement and on market buying by Ms Peach are good signs.
Considering (1) that the amount of debt increase is a small...
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Last
$1.14 |
Change
0.025(2.24%) |
Mkt cap ! $465.6M | |||
| Open | High | Low | Value | Volume |
| $1.12 | $1.16 | $1.11 | $1.150M | 1.024M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5302 | $1.13 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.14 | 15252 | 1 |
View Market Depth
| Last trade - 16.10pm 19/11/2024 (20 minute delay) ? |
| MVF (ASX) Chart |
