MEGAPORT LIMITED (MP1)
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MP1 - MEGAPORT LIMITED

FNArena Sector : Cloud services
Year End: June
GICS Industry Group : Software & Services
Debt/EBITDA: 1.19
Index: ASX200 | ASX300 | ALL-ORDS | ALL-TECH

Megaport is an Australian technology company providing Elastic Interconnection services using Software Defined Networking to connect customers to cloud services and third party data centres worldwide. Megaport was founded in 2013 and listed in 2015.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$11.15

24 Jul
2024

0.040

OPEN

$11.00

0.36%

HIGH

$11.31

483,211

LOW

$10.94

TARGET
$14.617 31.1% upside
Franking for last dividend paid out: 100%
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3DP . AIM . BTH . DSE . DUB . DUG . ERD . FCL . FCT . GDC . LVT . MAQ . NXT . RCL . SDR . SOV . TNE . WTC . XPN .
FNARENA'S MARKET CONSENSUS FORECASTS
MP1: 1
Title FY22
Actual
FY23
Actual
FY24
Forecast
FY25
Forecast
EPS (cps) xxx - 6.2 8.2 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A N/A xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 132.4 xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: 0.00%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

0.00

Estimated Dividend Growth
(Average Of Past Three Years)

 %

Amount Invested

Tell Me The Dividend After This Many Years

Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx-6.2
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx153.1 M
Book Value Per Share xxxxxxxxxxxxxxx80.7
Net Operating Cash Flow xxxxxxxxxxxxxxx8.2 M
Net Profit Margin xxxxxxxxxxxxxxx-6.38 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx-7.24 %
Return on Invested Capital xxxxxxxxxxxxxxx-6.67 %
Return on Assets xxxxxxxxxxxxxxx-4.63 %
Return on Equity xxxxxxxxxxxxxxx-7.24 %
Return on Total Capital xxxxxxxxxxxxxxx-12.30 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx-9.4 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx11 M
Long Term Debt xxxxxxxxxxxxxxx9 M
Total Debt xxxxxxxxxxxxxxx20 M
Goodwill - Gross xxxxxxxxxxxxxxx22 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx48 M
Price To Book Value xxxxxxxxxxxxxxx8.95

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx32.8 M
Capex % of Sales xxxxxxxxxxxxxxx21.42 %
Cost of Goods Sold xxxxxxxxxxxxxxx147 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx26 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx0 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.6

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

02/05/2024

1

Buy

$15.85

42.15%

Megaport reported a guidance upgrade which UBS assessed alongside a mixed trading update for 3Q24.

The March quarter EBITDA beat the broker's forecast by 6% and the FY24 guidance was lifted to $56m-$58m from $51m-$57m which was the highlight for UBS.

Momentum in growth slowed in comparison to the 1H24, which is concerning the analyst who is looking for improved KPI's going forward and a material improvement in new customers, rather than new services.

While viewing the longer term investment theme as positive in the shift to multi-cloud and AI, UBS is looking for confirmation of an uptake in business momentum as crucial for the company and a re-rating for the stock.

The broker adjusts the EPS forecasts by 9% for FY24 and -3% for FY25. Buy rating unchanged and the target price lifted to $15.85 from $14.50.

The report was published on May 1.

FORECAST
UBS forecasts a full year FY24 dividend of 0.00 cents and EPS of 10.00 cents.
UBS forecasts a full year FY25 dividend of 0.00 cents and EPS of 17.00 cents.

Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Goldman Sachs

01/03/2024

1

Buy

$14.85

33.18%

Assessing the Megaport pre-release of the 1H24 results, Goldman Sachs points to a miss on net profit due to higher stock based compensation, as well as higher depreciation and amortisation.

Margins remained robust with the analyst pointing out investment spending will be higher in the 2H24.

Management retains FY24 guidance and the broker lowers the EBITDA forecasts by -11% to -6% for FY24 to FY26, respectively ,for higher costs.

The target price is lifted 10% to $14.85, due to a higher PER valuation being ascribed to the stock. Buy rating unchanged.

FORECAST
Goldman Sachs forecasts a full year FY24 EPS of 4.00 cents.
Goldman Sachs forecasts a full year FY25 EPS of 13.00 cents.

MP1 STOCK CHART