Fantastic summary! Following your last post on DOLE, I'm calculating the net income based on a $400m (PF EBITDA) - $115m (CAPEX) - $30 (future debt) - $20 (minority interest) = $235m. Assuming taxation in Ireland around 20%, then 235*0.8 = $188m net income. When dividing this value by the number of shares (93m), I obtained an earnings per share of 1.95. Assuming a 15x (from competitors), we could expect values of close to $30 (today's is at ~ $15). That's if everything is correct.
Thank you very much, Conor. Your work is excellent!
Brilliant. Thank you Conor - always enjoy reading your analysis!
For PANR, how long would it take to extract all that oil? Need to apply a discount rate to future flows, no?
Thank you Conor, awesome! I want to ask you if you think that $YCA is a better play than Paladin. Thank you.
Fantastic summary! Following your last post on DOLE, I'm calculating the net income based on a $400m (PF EBITDA) - $115m (CAPEX) - $30 (future debt) - $20 (minority interest) = $235m. Assuming taxation in Ireland around 20%, then 235*0.8 = $188m net income. When dividing this value by the number of shares (93m), I obtained an earnings per share of 1.95. Assuming a 15x (from competitors), we could expect values of close to $30 (today's is at ~ $15). That's if everything is correct.