Share Name Share Symbol Market Type Share ISIN Share Description
Cambian Group LSE:CMBN London Ordinary Share GB00BKXNB024 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +7.25p +5.54% 138.00p 137.75p 139.75p 154.50p 137.00p 150.00p 1,455,305.00 16:35:03
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Health Care Equipment & Services 290.1 -16.4 -5.4 - 254.19

Cambian Group Share Discussion Threads

Showing 326 to 349 of 350 messages
Chat Pages: 14  13  12  11  10  9  8  7  6  5  4  3  Older
DateSubjectAuthorDiscuss
05/12/2016
16:14
gotta be henderson's selling down. when they've finished the price will be more reflective of the 21p divi
treble in 1999
05/12/2016
13:25
We know the company will be debt free,cash rich and have a property portfolio of 100m. Enough to start with, what can this very experienced management do with it. Their market is massive, and they are already number 1.
treble in 1999
05/12/2016
13:20
Bottom line there is not enough information in the RNS to make anything more than an educated guess. We don't know what assets and liabilites are going with the disposal and which will remain.
brwo349
05/12/2016
13:18
yes indeed. i used the debt figure 254 mill from the last results as i did not get chance to see the presentation and also did not envisage the extra 18 million transaction costs.
evil_doctor_facilier
05/12/2016
13:14
thanks sj Dr Evil You could be right but as a quick estimate I don't agree with your numbers. I just ignore goodwill and intangibles and the current assets and liabilities cancel out. The amount after costs is £359M and the debt plus other long term liabilities is about £300M. So that leaves about £50M. Then assign less than half of the property plant and equipment to the remaining business, so about £150M So no debt or other liabilities and a very simple estimated balance sheet looks like; Property Plant and Equipment = £150M Net cash = £50M Market cap is £260M Remaining business has £18.4M EBITDA but could be completely wrong so DYOR!
brwo349
05/12/2016
13:13
Hi Treble, yes just seen the difference in the debt figures from the half year results and the one used in today' presentation, also the extra transaction costs at 18 million? However, that said, the adult business was sold on a basis of 2.9x earnings The child service earnings this year are circa 160 million. The group will be debt free with asset backed at 100 million plus cash plus child service division.
evil_doctor_facilier
05/12/2016
13:11
Would suspect Henderson's are selling up.
treble in 1999
05/12/2016
13:08
E-D-F The cash position is likely to be 359-293=66, less 40m, = 26m Add 1.5 x ebitda of say 20m, so to invest over 50m. Property portfolio circa £100m per presentation, at net book value. Also, no one approached the company to buy the whole company. I think they are going to grow the numbers, so if 1700 customers equates to £18m ebitda, gross £96m, then adding £50m to property portfolio should add (???) 850 customers. EBITDA at worst £30m. Probably the 2018 target. If 25m sold for £377m, then could be worth £450 million, probably a lot more. 240p share price, plus dividends Thoughts anyone
treble in 1999
05/12/2016
13:02
Brwo, if anything i am underplaying it!
evil_doctor_facilier
05/12/2016
12:51
brwo Try here hTTp://www.cambiangroup.com/servicedirectory.aspx Looks like about a 50-50 split although I note at least one property appears under both adult and children listing Just done a quick scan and not a detailed comparison/approx valuation Good enough for a rough valuation though SJ
sailing john
05/12/2016
12:42
ok I think you might be over-estimating a little but I get your drift. What about all the property assets? Any idea what will remain?
brwo349
05/12/2016
12:16
Yes the adult service division. The child services division remains. Post sale, the company will be debt free with 147 mill cash and a child service division business that if sold on 2x9 earnings basis, akin to the announced adult division, would be worth alone 400 million alone! Or in simple terms the business sold for 377 million (Adult Services ) had capacity of 1,152 The remaining business has - (Children's Services) has capacity at 1,790 The adult service is valued at cash 377 mill Today the market cap is 260 mill and Cmbn will be left with the child service division plus circa 130 million free cash debt free. Subtract the free cash from the market cap and this puts a value on the child service division of just 113 million or less than 1x revenue. teh adults services sold today fro 2.9 x revenue. Way too cheap..
evil_doctor_facilier
05/12/2016
12:13
but do we know what assets get sold? Can anyone make a stab at what the balance sheet looks like post-disposal?
brwo349
05/12/2016
11:59
i covered the amount i sold at open on this pull back, by all conventional measurements of value this is cheap.
evil_doctor_facilier
05/12/2016
11:21
Bought in today - new company for me and I can't say I have adequately researched but the debt terms (1H results - note 6) looked extremely onerous and once removed will make a significant difference to the bottom line. SJ
sailing john
05/12/2016
10:04
Nearly a two bagger...... :)
kemche
05/12/2016
09:55
Exactly, look at the valuation obtained on the sale of the adult service division- 2.9 x revenue If the same value was ascribed to the child service division, the enterprise value of that would be over 400 million, add in the cash surplus of 147 mill and you have a pro rata market cap of 517 mill as against the 257 mill today. This surely has a long way to go over the next 6 months. I believe a little profit taking from people who bought in for the expected asset sale news occurring this am.
evil_doctor_facilier
05/12/2016
08:51
Yes I agree looks way too cheap based on this transaction. I'd have expected the shares to rise much higher this morning. Also 40 million (21p per share) to be returned in a capital payment in 1st half of next year.
gbill11
05/12/2016
08:43
Asset sale 399 mill - debt 253 mill child service ebitda 9.3 mill and growing market cap 252 minus - cash 147 mill cash surplus on asset sale child service division valued at just 105 mill. (That is circa the same as turnover in that division for this financial year) I did sell some of my holding at open after the great run of late ,however mid term it looks very cheap. let's see what happens after the conference call regards capital return
evil_doctor_facilier
05/12/2016
08:04
There is the rns I use investegate for rns. Free and comprehensive Have a look. And you can go back years on any company
treble in 1999
05/12/2016
08:04
OK, it's there now - sounds excellent news. Look forward to your 200p :-)
bennytheball
05/12/2016
07:45
Brilliant. No RNS above - where do you get that info treble?
bennytheball
05/12/2016
07:35
377m. Debt free and 40m return to shareholders 18m starting profit going forward Return to dividends 2017 Looks very good for the future Maybe 200p by year end Good luck holders,only about 35% free float of shares. Rest investment holders
treble in 1999
02/12/2016
17:47
Not a bad end to the week. Looking forward to Monday. :-)
bennytheball
Chat Pages: 14  13  12  11  10  9  8  7  6  5  4  3  Older
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