KAZ SMX Comparison

  1. 834 Posts.
    Inserted a few dots to make this more readable..These two companies now apparently are trading on Par for FY03 figures. With EV/EBITDA both at 6.8 and on a growth footing these are both an absolute steal...

    .........................KAZ......SMX........US Companies
    Price...................35c.......50c
    Shares...............780M......328M*
    EV.....................273M......164M
    Rev....................270##....150***
    EBITDA...............$40M......$24M**
    EV/Rev.................1.0.........1.1
    EV/EBITDA............6.8#........6.8**.......13-18X
    Cash Balance........$55M.....$45M
    Bank Debt............$50M.......$0
    FY03 Price Tgt......$0.80.....$1.10
    FY03 EV/EBITDA.....15X.......15X
    FY04 Growth..........18X.......18X
    Price Premium........$0.96....$1.32

    * Assumes full buyback of 32M subtracted from
    360M shares on issue.
    ** $24M EBITDA for FY03 - Easily achived now
    loss making businesses are gone & marginal
    performing SMS branches back on track.
    ***Assumes 10% inc in SMS revenue over FY02
    # Assumes $40M EBITDA FY03 - Recent Guidance
    of $36.5 for FY02.
    # FY02 Rev of $247M assume 10% inc in FY03

    All the Best

    THE SUR`GE
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.