Originally Posted by
B772
sierra5913
I assume you are a member of the Joyce Fan Club.
Comparing the position on the 30/06/07 with today we see the following:
Market Cap $11,116 M Today $7,992 M
Shareholders Equity $6,189 M Today $3,255 M
NTA per share $2.93 Today $1.27
Net Interest Cover 74.72 Today 8.65
Debt/Equity % 81.9 Today 149.1
During this time there has been a net reduction of 84,000,000 shares on issue which has a huge impact on the above numbers so I think it is too early to suggest Allan wins !
I won't dispute those figures but I believe you need to take into consideration that the share price and thus market cap was artificially 'inflated' at that point still, following the aborted APA take-over which resulted in the share price being over $5.00 for quite some time.
Not saying you're wrong but just saying it's necessary to recognise that APA were a bunch of raiders that offered a fist full of dollars to buy the airline so they could load it up with debt. That 'valuation' left the company's share price probably artificially high for a while afterward from memory.