GNP 4.59% $1.35 genusplus group ltd

GenusPlus Huge Upside!!

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    GenusPlus Group (GNP.AX)

    Financial Position
    MC ~ $172m
    S/O ~ 154.7m
    Cash ~ $34.18m
    Debt ~ $6.84
    Net Debt ~ - $27.34m
    EV ~ $144.6m
    EV/ LTM EBITDA ~ 6.9x
    EV/ NTM EBITDA ~ 4.2x

    Financial Overview
    Revenues
    FY17 ~ $48.8m
    FY 18 ~ $51.2m
    FY19 ~ $99.17m
    FY20 ~ $169.9m
    FY21 ~ $318.2m
    CAGR 45%

    EBITDA
    FY17 ~ $7.59
    FY18 ~ $7.93m
    FY19 ~ $12.05m
    FY20 ~ $16.97m
    FY21 ~ $21.2m
    CAGR 23%


    EBITDA MARGINS %
    FY17 ~ 15.5%
    FY18 ~ 15.5%
    FY19 ~ 12%
    FY20 ~ 9.9%
    FY21 ~ 6%
    AVERAGE - 12%

    EBIT
    FY17 ~ $6.76m
    FY18 ~ $9.08m
    FY19 ~ $15.81m
    FY20 ~ $10.69m
    FY21 ~ $19.86m
    CAGR 24.6%

    NPAT
    FY17 ~ $4.54m
    FY18 ~ $4.80m
    FY19 ~ $6.01m
    FY20 ~ $10.69
    FY21 ~ $13.35
    CAGR 24%


    FCF/SHARE
    FY17 ~ $0.02c
    FY18 ~ $0.03c
    FY19 ~ $0.035c
    FY20 ~ $0.05c
    FY21 ~ $0.06c
    CAGR 24.5%


    Estimates:
    FY22e
    Rev's ~ $400m
    EBITDA ~ $36m
    NPAT ~ $24m
    FCF ~ $18m
    FCF/SHARE ~ $0.11c
    FCF YIELD ~ 9.9%

    FY23e
    Rev's ~ $480m
    EBITDA ~ $57m
    NPAT ~ $29m
    FCF ~ $22m
    FCF/share ~ $0.14c
    FCF yield ~ 12.6%

    FY24e
    Rev's ~~ $576
    EBITDA ~ $34m
    NPAT ~ $34m
    FCF ~ $27m
    FCF/share ~ $0.17c
    FCF Yield ~ 15%


    FY25e
    Rev's ~ $691
    EBITDA ~ $82m
    NPAT ~ $41m
    FCF ~ $32m
    FCF/share ~ $0.20c
    FCF Yield ~ 18%


    Valuation 1: EBITDA method:
    FY25 EBITDA ~ $82m
    EBITDA multiple of 4x (conservative)
    82 x 4 = $328 MC or $2.12/share
    Estimated FY25 share price = $2.12
    Current share price $1.11
    Return = 17.5% p.a. IRR


    Valuation 2 : FCF method:
    FY25 FCF ~ $32m
    Assume FCF Yield 5.5% (which is today's yield)
    Estimated FY25 share price = $3.60

    Today's share price = $1.11
    Return = 34% p.a. IRR



    As always DYOR!!

    Last edited by ShaneW88: 16/10/21
 
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