1. I never said Equity deserved the same multiple as cash, that would mean a valuation of $28 for fmg.
2. I clearly said investors need to discount with a margin of safety, if I wasn't adjusting for risk the valuation would be either $28 at the cash rate, or well over $9 at your 10% figure, the original posted was claiming $5.50 was over valued, thats the price I was responding to.
3. as I laid out in another post, that is largely covered by the depreciation and amortisation charge
Iron ore price, page-863
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Last
$26.77 |
Change
-0.220(0.82%) |
Mkt cap ! $82.42B | |||
| Open | High | Low | Value | Volume |
| $26.70 | $26.82 | $26.48 | $81.59M | 3.059M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1694 | $26.76 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $26.77 | 15336 | 1 |
View Market Depth
| Last trade - 16.10pm 24/05/2024 (20 minute delay) ? |
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Last
$26.79 |
Change
-0.220 ( 0.59 %) |
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| Open | High | Low | Volume | ||
| $26.70 | $26.81 | $26.48 | 685458 | ||
| Last updated 15.59pm 24/05/2024 ? | |||||
| FMG (ASX) Chart |