Another blowout $EDU.AX number...clearly my earlier nos were too low, I think Ikon alone (below) prob prints high-30s EBITDA this year, ARPU is clearly still going up and despite the higher scale and tougher immigration picture, enrolments remain in hyper-growth mode... Hard to see how this doesn't continue to rerate, at $1.05 its still just ~3x EV/EBITDA, 5x FCF, and a high single digit yield %.... Again wish i was still in this in meaningful size 😭 https://t.co/jBkNJO8eOM
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