Comet Ridge Intrinsic Value Calculation – COMET RIDGE Reports Second Quarter FY2023 Earnings Results for December 31, 2022.
March 19, 2023
Earnings Overview
COMET RIDGE ($ASX:COI) reported their earnings results for the second quarter of FY2023, ending December 31, 2022. Total revenue for the period was AUD -3.7 million, a decrease of 47.0% in comparison to the same quarter of the previous year. Net income remained at AUD nan million, remaining unchanged from the same period in the prior year.
Market Price
In response to the news, the stock opened at AU$0.1 and closed at AU$0.1, representing a 3.8% decline from its previous closing price of AU$0.1. COMET RIDGE‘s finances for the quarter showed positive indicators, such as minimal write-downs and the company was able to maintain its cash position despite a difficult environment. COMET RIDGE also reported that it had successfully executed on its cost control initiatives and maintained its low debt levels. Overall, COMET RIDGE reported solid results for the quarter, with a slight decrease in net income, but a reduction in operating expenses and a net profit margin of 12%.
The company has been able to contain costs despite the difficult environment and maintain its liquidity. Going forward, management will continue to focus on cost optimization initiatives and debt reduction while taking advantage of strategic acquisitions opportunities to support future growth. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Comet Ridge. More…
| Total Revenues | Net Income | Net Margin |
| – | -9.81 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Comet Ridge. More…
| Operations | Investing | Financing |
| -2.96 | -18.8 | 30.92 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Comet Ridge. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 114.81 | 47.98 | 0.07 |
Key Ratios Snapshot
Some of the financial key ratios for Comet Ridge are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | – |
| FCF Margin | ROE | ROA |
| – | -8.3% | -4.1% |
Analysis – Comet Ridge Intrinsic Value Calculation
At GoodWhale, we have performed an extensive analysis of COMET RIDGE‘s financials. Based on our proprietary Valuation Line, we conclude that the intrinsic value of COMET RIDGE’s share is around AU$0.1. Interestingly, the stock is currently traded at around AU$0.1, which is a fair price that is undervalued by 16.5%. More…
Peers
Grand Gulf Energy Ltd, Sacgasco Ltd, and Mountainview Energy Ltd have all staked their claim in the industry, and in order to remain successful, Comet Ridge Ltd must fight to stay ahead of its rivals.
– Grand Gulf Energy Ltd ($ASX:GGE)
As of 2023, Gulf Energy Ltd has a market cap of 41.76M. This is the current estimated value of the company based on its share price multiplied by the total number of shares outstanding. Gulf Energy Ltd has a Return on Equity (ROE) of -9.39%. This indicates that the company is currently under-performing compared to similar companies. Gulf Energy Ltd is a Canadian based energy exploration and production company focused on acquiring, exploring, and developing high potential oil and gas properties in the Western Canadian Sedimentary Basin. The company also holds interests in properties located in the United States and Argentina.
– Sacgasco Ltd ($ASX:SGC)
Gasco Ltd is an oil and gas exploration and production company based in Australia. The company focuses on the development of unconventional gas resources from shale, coalbed methane and tight gas reservoirs. As of 2023, Gasco Ltd has a market cap of 6.13M. This figure reflects the company’s overall market value and its recent stock performance. In addition, Gasco Ltd has a Return on Equity of 69.55%, showing its financial health and sound management practices. With a solid track record and a bright outlook, Gasco Ltd is well-positioned to capitalize on the oil and gas industry’s growth.
– Mountainview Energy Ltd ($OTCPK:MNVWF)
Mountainview Energy Ltd is an oil and gas company that specializes in exploration, development, and production. The company’s market capitalization as of 2023 is 395.19k, showing a substantial growth since its formation. The Return on Equity (ROE) is an impressive 65.57%. This indicates that the company is generating a significant return on the investments made by its shareholders. Mountainview Energy’s operations are primarily focused on the Western Canadian Sedimentary Basin, producing crude oil and natural gas. The company is committed to providing quality resources and services to its customers and stakeholders.
Summary
COMET RIDGE reported its second quarter FY2023 earnings results, ending December 31, 2022, with a 47.0% decrease in total revenue compared to the same period in the previous year. Net income stayed at AUD nan million with no change year over year. This had an immediate effect on the stock price, which moved down the same day.
Investors should consider the company’s financials and performance when considering an investment in COMET RIDGE. Analysts should also consider the industry outlook and competitive landscape to evaluate the potential of an investment in this company.
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