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 | 11.0% - 10.0% | 10.5% |
| Terminal Revenue Multiple | 0.4x - 0.4x | 0.4x |
| Fair Value | A$1.18 - A$1.81 | A$1.48 |
| Upside | -20.7% - 21.2% | -0.4% |
| Select Revenue and EBITDA Forecast | |||||||||||
| (AUD in millions) | Input Projections | ||||||||||
| Fiscal Years Ending | Dec-24 | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Dec-32 | Dec-33 | Dec-34 |
| Revenue | 30,142 | 30,896 | 31,391 | 32,155 | 32,936 | 30,267 | 30,267 | 30,267 | 30,267 | 30,267 | 30,267 |
| % Growth | 12.7% | 2.5% | 1.6% | 2.4% | 2.4% | -8.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| EBITDA | 577 | 730 | 930 | 1,040 | 1,299 | 1,344 | 1,344 | 1,344 | 1,344 | 1,344 | 1,344 |
| % of Revenue | 1.9% | 2.4% | 3.0% | 3.2% | 3.9% | 4.4% | 4.4% | 4.4% | 4.4% | 4.4% | 4.4% |
| Calculation of Free Cash Flow | |||||||||||
| Projected Unlevered Cash Flow | |||||||||||
| Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Dec-32 | Dec-33 | Dec-34 | ||
| EBITDA | 730 | 930 | 1,040 | 1,299 | 1,344 | 1,344 | 1,344 | 1,344 | 1,344 | 1,344 | |
| Other Income / (Exp) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| D&A | (262) | (273) | (291) | (316) | (343) | (343) | (343) | (343) | (343) | (343) | |
| EBIT | 468 | 657 | 749 | 983 | 1,001 | 1,001 | 1,001 | 1,001 | 1,001 | 1,001 | |
| Pro forma Taxes | (141) | (197) | (225) | (295) | (300) | (300) | (300) | (300) | (300) | (300) | |
| NOPAT | 243 | 328 | 460 | 524 | 688 | 701 | 701 | 701 | 701 | 701 | 701 |
| Capital Expenditures | (588) | (501) | (403) | (400) | (395) | (486) | (427) | (427) | (427) | (427) | (427) |
| NWC Investment | 11 | 2 | 2 | 2 | 3 | (9) | 0 | 0 | 0 | 0 | 0 |
| (+) D&A | 230 | 262 | 273 | 291 | 316 | 343 | 343 | 343 | 343 | 343 | 343 |
| Free Cash Flow | (104) | 91 | 331 | 418 | 612 | 549 | 617 | 617 | 617 | 617 | 617 |
| % Growth | 264% | 26% | 46% | -10% | 12% | 0% | 0% | 0% | 0% | ||