ASX:KOVMachinery
Korvest (ASX:KOV) Shares Look Cheap But Cash Flow Clouds Dividends
Korvest walked into this result priced as a value stock, trading on a lower P/E and well under one fair value estimate, yet the share price barely budged around A$17.40. The headline is not revenue, which was broadly steady across the halves. The real story is pressure on profitability, with trailing net profit margin sitting at 9.6% compared with 10.9% a year earlier and a dividend yield near 3.7% that is not well covered by free cash flow. That gap between reported earnings and cash is what...