We value Fonix at 300p based on 3.5% FY26E EFCF yield, and it is currently trading on 12x 12-month forward EV/EBITDA with +9% NTM EBITDA growth, 5.4% EFCF yield, and 5.2% dividend yield.
Mobile payment technology group and prodigious cash generator Fonix Mobile (FNX:188.5p) is continuing to drive growth through a combination of domestic growth and international expansion.
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