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) | 11.92 | 9.40 | 8.82 |
Price/Book Value | 2.02 | 1.16 | 1.99 |
Price/Sales | 3.53 | 1.58 | 4.10 |
Price/Cash Flow | 9.55 | 6.93 | 38.03 |
|
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
|
Price
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Morningstar Rating for Stocks
|
Capital Allocation
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Economic Moat
|
Market Cap
|
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United States