AFT Pharmaceuticals

[lorraina]

Any one who wants "The Dinkum Oil" on AFT should go to the other channel, and look at Rawz's post # 1,046 on page 53 AFT thread.
The graph says it all.

[Left Field]

I think page 10 tells the story: consistently rising revenue creating flatlining earnings (well, with some ups and downs). EPS - hmm.

Clearly not an investment for you BP along with minimal dividends.  Best you shun AFT....

However, AFT's accounts are backward looking (as they always are.) For the last 10 or more years AFT have been spending roughly $10 mill pa on research. The accounts subscribe no value to this research. It is seen only as a cost.

The Pitt Research is the first attempt to look at a forward value or ROI on the past research. Pitt only looked at 3 of AFT's pipeline of 8 to 10 potential products in relation to the potential markets they address and came up with SP valuations more than double today's SP.

Lastly since 2022 AFT's SP slowly declined roughly 43% from $4.50 to a low around $2.60 in 2025..... however in 2026 the market (which is forward looking,) started to reassess AFT and the SP has risen over 60% to date (and some of us have been fortunate to share these recent gains.)

For investors who like overlooked, ignored and undervalued companies,  AFT offers exciting potential....

[Left Field]

Another article on AFT...... apparently AFT outperforms Pfizer and Merck (measured on revenue per employee.)  mmmm

https://newsroom.co.nz/2026/08/03/small-nz-drugmaker-quietly-outperforms-global-giants-pfizer-and-merck/?utm_source=Newsroom&utm_campaign=b5b03bd6e5-Sunday+Briefing+09.08.2026&utm_medium=email&utm_term=0_71de5c4b35-b5b03bd6e5-97970805&mc_cid=b5b03bd6e5&mc_eid=f260d735f1

[lorraina]

Research today from Pitt Street;

 
 


 
AFT Pharmaceuticals (ASX:AFP): Double digit revenue growth in 1H27
 
On 6 October 2026 AFT Pharmaceuticals (ASX:AFP) released a financial update confirming to investors that its guidance for FY27 (the 12 months to the end of March 2027) was on track based on a strong performance in the first half of the year.
 
AFT reiterates NZ$28-32m operating profit and $300m in annual revenue guidance for FY27                   
 
Specifically, AFT affirmed a NZ$28-32m operating profit and NZ$300m in annual revenue, off the back of figures for the first half of the year which showed double digit revenue growth across the group and in all of the company's individual divisions. This only includes revenue from its legacy business (Maxigesic pain relief and its OTC, prescription and hospital product lines) and none of the assets in its pipeline.

The company also made significant progress towards unlocking value in the rest of its pipeline, and we believe investors are beginning to realise the potential – having seen the company's progress firsthand.
 
Extending the global footprint
 
AFT's biggest achievement since our initiation note was launching Maxigesic (Combogesic) Rapid in the US in partnership with Mark Cuban's Cost Plus Drug Company. Cost Plus fills and delivers prescriptions at cost plus a fixed 15% margin.

Notwithstanding the lower cost for consumers, it is a more profitable channel given it bypasses markups paid to middlemen such as pharmacy benefit managers.

Other important milestones have included the out-licensing of Maxigesic IV in Japan and the Philippines as well as having positive results from first-in-human trials of fridge-free medicines done by its UK/Spanish R&D partner StablePharma published in The Lancet, one of the world's leading medical journals.
 
Legacy business valuation of A$4.57/6.31 reiterated with further upside if the pipeline is executed                 
 
In our July 2026 initiation note, we valued AFT's legacy business at A$4.57 per share in our base case and A$6.31 per share in an optimistic case. We also valued three of AFT's most prominent pipeline opportunities at a cumulative A$5.67/A$6.77 per share.

This and the company's net cash position ($0.31) represents a total of A$10.55 and $13.39, respectively.

Forbar 29th July 2026..
...............2026a...........27.........28...........29
EPS..............13.4..........19.2.......25.2.........33.3
eps growth.............43.28%.......31.25%.......32.14%
Current PE 31.25........
Current PEG av growth 35.55% ......PE 31.25 divided by growth 35.55 gives a PEG of .879 .Well under 1.