Looks like there`s been an error while trying to load this page.
Our team has been notified but please contact us using the email support widget if the problem persists.
| Metrics | Range | Conclusion |
|---|---|---|
| Discount Rate | 15.8% - 14.8% | 15.3% |
| Perpetuity Growth Rate | 1.7% - 2.8% | 2.3% |
| Fair Value | A$1.58 - A$1.91 | A$1.73 |
| Upside | 12.8% - 36.7% | 23.9% |
| Select Revenue and EBITDA Forecast | ||||||||||||
| (AUD in millions) | Input Projections | |||||||||||
| Fiscal Years Ending | Jun-24 | Jun-25 | Jun-26 | Jun-27 | Jun-28 | Jun-29 | Jun-30 | Jun-31 | Jun-32 | Jun-33 | Jun-34 | |
| Revenue | 1,746 | 1,348 | 1,412 | 1,474 | 1,558 | 1,647 | 1,704 | 1,738 | 1,773 | 1,808 | 1,845 | |
| % Growth | 2.3% | -22.8% | 4.7% | 4.4% | 5.7% | 5.7% | 3.5% | 2.0% | 2.0% | 2.0% | 2.0% | |
| EBITDA | 106 | 250 | 275 | 312 | 352 | 396 | 409 | 418 | 426 | 435 | 443 | |
| % of Revenue | 6.1% | 18.6% | 19.5% | 21.1% | 22.6% | 24.0% | 24.0% | 24.0% | 24.0% | 24.0% | 24.0% | |
| Calculation of Free Cash Flow | ||||||||||||
| Projected Unlevered Cash Flow | ||||||||||||
| (AUD in millions) | Jun-25 | Jun-26 | Jun-27 | Jun-28 | Jun-29 | Jun-30 | Jun-31 | Jun-32 | Jun-33 | Jun-34 | Terminal | |
| EBITDA | 250 | 275 | 312 | 352 | 396 | 409 | 418 | 426 | 435 | 443 | 443 | |
| Other Income / (Exp) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| D&A | (221) | (221) | (242) | (237) | (252) | (260) | (266) | (271) | (276) | (282) | (31) | |
| EBIT | 30 | 54 | 70 | 115 | 144 | 149 | 152 | 155 | 158 | 161 | 412 | |
| Pro forma Taxes | (4) | (6) | (8) | (14) | (17) | (18) | (18) | (19) | (19) | (19) | (49) | |
| NOPAT | 58 | 26 | 48 | 61 | 101 | 127 | 131 | 134 | 136 | 139 | 142 | 362 |
| Capital Expenditures | (51) | (35) | (35) | (35) | (35) | (32) | (33) | (33) | (33) | (33) | (33) | (33) |
| NWC Investment | (2) | 24 | (4) | (4) | (5) | (5) | (3) | (2) | (2) | (2) | (2) | (2) |
| (+) D&A | 41 | 221 | 221 | 242 | 237 | 252 | 260 | 266 | 271 | 276 | 282 | 31 |
| Free Cash Flow | 45 | 235 | 230 | 264 | 299 | 341 | 355 | 364 | 373 | 380 | 389 | 358 |
| % Growth | 419% | -2% | 15% | 13% | 14% | 4% | 3% | 2% | 2% | 2% | -8% | |