Thanks for the write-up. Why after a successful track record is the stock where it was ~4 years ago/the stock has nearly halved since the end of 2021? Why does the market not like them anymore?
Several points here, the most important being that in September 2021 the company was trading at 64x P/E levels. That is excessive, a bubble.
What the share price has done in recent years is to ‘drain’ this excess, so it has hardly had any return (it came from a bubble price). Now the PE is lower than at the worst of the Covid.
On the other hand, investors are putting a lot of focus on the Magnificent 7 and IA and SME's remain neglected despite being attractively priced for years.
The last factor is that the UK market is one of the cheapest markets in Europe right now to invest in, as is the Italian market.
I hope I have been able to answer your question. Regards.
You can easily find it in the company's FY reports. Search for "Number of shares".
I also use Tikr which in this case is correct.
The latest FY23 data are 109.6 (basic) and 112.1 (diluted).
Thanks mate. I appreciate the high quality write up
Thank you very much for the feedback!
Thanks for the write-up. Why after a successful track record is the stock where it was ~4 years ago/the stock has nearly halved since the end of 2021? Why does the market not like them anymore?
Several points here, the most important being that in September 2021 the company was trading at 64x P/E levels. That is excessive, a bubble.
What the share price has done in recent years is to ‘drain’ this excess, so it has hardly had any return (it came from a bubble price). Now the PE is lower than at the worst of the Covid.
On the other hand, investors are putting a lot of focus on the Magnificent 7 and IA and SME's remain neglected despite being attractively priced for years.
The last factor is that the UK market is one of the cheapest markets in Europe right now to invest in, as is the Italian market.
I hope I have been able to answer your question. Regards.
Could you point to source that shows their basic & diluted average share count for the last 5 years?