Professional
Added to YB: 2024-02-25
Pitch date: 2024-02-25
CUP.AX [neutral]
Count Limited
+81.3%
current return
Author Info
Hurdle Rate is an Australian Unit Trust run by a CPA who shares global stock pitches on their website. Sign up for the newsletter.
Company Info
Count Limited, together with its subsidiaries, provides accounting, business advisory, and financial planning services in Australia.
Market Cap
AUD 89.8M
Pitch Price
AUD 0.61
Price Target
N/A
Dividend
6.94%
EV/EBITDA
8.93
P/E
10.33
EV/Sales
1.25
Sector
Professional Services
Category
N/A
Hurdle Rate Unit Trust: Count (ASX:CUP)
CUP.AX: Count Limited to become 18th largest AU accounting & 3rd largest AFSL firm post-Diverger merger. Accounting generates most revenue but wealth offers better organic growth economics. Poor leadership, growth record & cost discipline. Accurium a bargain buy. Merger offers $3M cost synergies but adviser churn risk. Fair value ~9x EV/EBITA ($138M EV, $15M EBITA) but limited growth/re-rating potential.
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