The proposed acquisition of no-moat Platinum by Regal Partners appears reasonable, with a 14% takeover premium to our fair value and the last close price. Platinum is currently assessing the offer, and shareholders do not need to take any action at this stage.
A strong track record, over the very long term, in international equities established Platinum as one of the best-known fund managers in Australia.
The majority of Platinum Asset Management's earnings come from only a handful of funds, meaning it has a high reliance on key investment personnel and the performance of its main funds.
|
Metric
|
PTM
|
PPT
|
MFG
|
|---|---|---|---|
Price/Earnings (Normalized) | 12.34 | 9.56 | 8.88 |
Price/Book Value | 2.09 | 1.18 | 2.00 |
Price/Sales | 3.65 | 1.60 | 4.13 |
Price/Cash Flow | 9.89 | 7.05 | 38.29 |
|
Metric
|
PTM
|
PPT
|
MFG
|
|---|---|---|---|
Quick Ratio | — | 0.36 | — |
Current Ratio | — | 0.52 | — |
Interest Coverage | — | −5.78 | — |
|
Metric
|
PTM
|
PPT
|
MFG
|
|---|---|---|---|
Return on Assets (Normalized) | 12.80% | 5.54% | 15.96% |
Return on Equity (Normalized) | 14.00% | 9.71% | 18.28% |
Return on Invested Capital (Normalized) | — | 7.88% | — |
|
1-Day Chart
|
Name
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Price
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Morningstar Rating for Stocks
|
Capital Allocation
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Economic Moat
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Market Cap
|
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United States