JonDent - Explorations in Electronics, Electronic Music, Coffee, Sci Fi, Art & Travel (but mostly electronic music)
Tuesday, 31 October 2023
Saturday, 28 October 2023
Page R - Pattern Mode editing - Fairlight - CMI
The Fairlight CMI IIx Page R has two settings.
1. Pattern Mode
2. Song Mode
This post covers the Pattern Mode.
The pic below is a pattern.
A PATTERN is a 1-bar SCORE for 8 monophonic keyboards.
It consists of eight individual sequences of musical notes
The sequences are numbered from 1 to 8, corresponding to the KEYBOARD MAPS
that are provided on PAGE 3 (below pic)
Your final musical piece is developed by creating up to 255 different patterns
and playing these patterns in different combinations.
The PATTERN EDITOR is used to display, create or modify
the musical patterns.
To select the PATTERN EDITOR either
type: E<return>
or use the lightpen: and touch <PATTERN>
All of the patterns and the playing order for a single piece are stored together on disk in one
FILE with an " RS" suffix.
-------------
Firstly, you can have up to 255 patterns saved in a .RS file
Choosing the PATTERN NUMBER:
There are 4 ways to select a pattern for display:
1) TYPE: P=n<return> where: n is any pattern number (1 to 255)
2) Move the CURSOR to the number opposite the word Pattern
(either press down-arrow key three times or use lightpen)
Type n<set> where: n is any pattern number (1 to 255)
3) Move the CURSOR to the number opposite the word Pattern
(either press down-arrow key three times or use lightpen)
use the <add> & <sub> keys to increment or decrement the pattern number by 1
4) Use the BAR command.
This displays the bar number related to the linking of patterns in the Song Editor. (p42 of manual)
Type:
B(AR),n<return>
n=1 to 65535
As an example, to look for & display the 9th bar in a song type:
B,9<return>
--------------------------
Next, open a keyboard.
There are 8 virtual keyboards.
One of the 8 keyboards must be OPEN before notes can be
inserted or deleted or RECORDED.
When a keyboard is open, it is illuminated.
There are three ways to OPEN a keyboard ...
i) TYPE: Kn<return> where n = 1 to 8 as on all other CMI pages
e.g., K4<return> will open Keyboard 4.
2) Press the down arrow key repeatedly until the cursor
reaches the keyboard area.
3) Point the lightpen at the voice names or one of the big numbers 1 to 8 to the left of the actual note area.
Quantisation / Timing resolution
TIME RESOLUTION may be changed in two ways:
1) by pointing the light-pen at the collection of eight notes
in the bottom right-hand corner of tne screen.
Notes with triangles signify
"triplets" i.e., three notes played in the time of two.
2) by OPENING a keyboard and then repeatedly pressing
"+" or "-" on the alphanumeric keyboard to lower
or raise timing resolution.
--------------------
The NOTE Cursor.
This is the location on your editor timeline where you will enter the notes.
There are three ways to move the note cursor:
1) use the light-pen
2) TYPE: > to shift the note cursor right
OR < to shift the note cursor left
3) put the CMI in the RECORD mode.
The note cursor follows music keyboard performance in real time.
-------------------
VOICE display :
To the left of the screen is the voice display
showing whicn voices are loaded into the eight
sequencers. The voice display also contains
the NOTE EDITING TABLE.
The NOTE EDITING TABLE is "behind" the
Voice names. This shows
KEY (pitch) , VEL(ocity) , and DUR(ation) .
You can toggle between the two tables by
pointing the light-pen at any voicename or pressing the left/right -arrow
Keys
Use the <add> or <sub> keys to raise or lower
values for KEY, VEL and DUR by one.
--------------------------------------------------------
INSERT (inserting notes into your patterns)
There are two modes of creating new patterns:
record mode (real time) or write mode. The same as in most modern drum machines.
There are three ways to insert notes into patterns:
1) type I <return>
2) point the light pen at the word "INSERT"
3) put the CMI into RECORD mode.
Insert is automatic while the music keyboard is played.
Note: The music keyboard can be used as a selection device for pitch and
key velocity of individual notes
Sequences can be COPIED from one or more patterns to others.
DELETE (removing notes from a pattern)
There are two ways to delete a note in a pattern after
positioning the note cursor:
1) TYPE: D<return>
2) point the light pen at the word "DELETE"
----------------
==================================
Basic Play/record commands:
TYPE: P[LAY] [, <thing>[,<count>] ] [,#<bar>] [;<options>] <Return>
be hit before starting.
F - free-run mode - maximum timing accuracy.
Used when finally recording onto tape.
Use when EXT ernal syncing.
At least 3 letters of the word RECORD need to be typed. ie REC
If using the lightpen point to "PLAY" or "RECORD".
------------------
To display a specific pattern :
P=n<return>
To play a specific pattern:
P,n<return> (where n= the pattern number)
To play a specific pattern a specific number of times (loop):
P,n,x<return>
(where n= the pattern number)
(where x= the number of loops)
Note, if you want to pattern to loop infinitely , x=0
To play the past played pattern , type:
P<return>
Type S<return> to stop the loop.
---------------
copying patterns
1. Go to the pattern you want to copy to.
2. Type: C,<number> RETURN
C=copy
<number> = the pattern number you want to copy
Thus to copy pattern 1 to pattern 2,
you need to go to pattern 2 and then type:
C,1 (return)
----------------------------------------------
Playing Songs
P,*<return>
P,*,0 <return>
Play whole SONG
forever. (start
at bar 1, * = song, 0 = infinite loop)
To stop type:
S<return>
or hold down<ctrl> & press Escape.
-----------------
Index
+ Basic commands (Initial Pics)
+ Page 1 --- The IIx index
+ Page 2 --- Disk Control
+ Page 3 --- Keyboard control (NPHONY)
+ Page 4 --- Harmonic Profiles
+ Page 5 --- Harmonic Amplitude Profiles
+ Page 6 --- Waveform Drawing
+ Page 7 --- Control parameters
+ Page 8 --- Sampling
+ Page 9 --- Keyboard Sequencer
+ Page R --- Real Time Composer
+ Page 1 --- The IIx index
+ Page 2 --- Disk Control
+ Page 3 --- Keyboard control (NPHONY)
+ Page 4 --- Harmonic Profiles
+ Page 5 --- Harmonic Amplitude Profiles
+ Page 6 --- Waveform Drawing
+ Page 7 --- Control parameters
+ Page 8 --- Sampling
+ Page 9 --- Keyboard Sequencer
+ Page R --- Real Time Composer
--- Page R- Locust Demo
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Tuesday, 24 October 2023
La Pavoni Europiccola notes
I'm using a La Pavoni Europiccola Post Millennium machine in this post.
Everyone says this is a hard machine to master, but I think with a bit of trial, error and experimenting you can get great shots.
Lever machines like the Europiccola require artistry.
Pressure Profiling machines allow more tweaking of parameters like pressure, temp, flow rate, etc. These machines try to turn coffee into a science.
Each shot can now be reproduced consistently in terms of water temperature, pressure, and volume every time. I personally don't think there is anything wrong with this method. I'm in the process of modifying a Gaggia classic into one of these (more about that later) pressure profiling machines.
If the aim is to achieve perfection every single time, its really the only path to take. But that human element is disappearing bit by bit. Taken to the extreme the barista can be eliminated with a robot.
It's the reason I still visit my local barista. She is a professional making probably hundreds of coffees a week. You can get really good with that amount of practice.
Lever machines are a challenge, and each shot you make will be unique. There is something magical about getting a perfect shot ...the unpredictable human element is always there. .... like perfectly taking a corner in a manual car or getting a hole in one on the golf course.
You know you will probably never replicate it, but it will live in your memories forever.
Temp is I think impt though not critical. This lever will never replace a modern PID equipped Espresso machine in a barista competition. The La Pavoni is more Art than Science. The temperature (on the La Pav) constantly changes. I think its interesting to know how they work but I don't think the idea is to pull consistent 9 bars.
That's for commercial machines.
BTW I'm getting great tasting shots with longer brew times ... sometimes up to 40 secs. Maybe, the lower pressure makes a difference. ???
I'm happy with around 10 sec of pre-infusion and 6 bars.
But to start exploring you can first buy a thermometer strip. I found these difficult to read but I know lots of people love them. I've gone the electronic thermometer route.
Much more accurate.
On the La Pav, if you get the group head to about 80-85 c, and keep the boiler pressure at an average of 0.5-0.7 bars , then the water in the group head should be around 93C.
Remember to depressurize the boiler before pulling the shot.
(this also stops the temp from creeping up and instead makes it decrease over time).
I de-pressure by purging air with the steam wand.
I purge steam until about 1 bar of pressure is left in the boiler.
Some models of the Pavoni are equipped with a boiler manometer. This allows you to estimate the water temperature
according to the boiler pressure. The documentation indicates that the boiler pressure should range be between 0.6 and 1 bar.
A good standard boiler water temp will be about 94 °c.
I use a digital thermometer with it's sensor attached on the outside of the group-head. This tends to indicate a lower temp ... usually about 80 - 90C than I would expect when brewing --- I think the reason for the difference is the cooling of the metal outside of the group. To get a more accurate brew temp the sensor needs to be inside the group head, in the puck.
Before you brew, let the machine get to the target temp area.
You can try flushing the group head 1 to 2 times till you reach 90C. Try your best to economise with water. esp if you're using a Europiccola with it's small 0.8L tank.
To not use any water, try to dry pump the lever (by raising the lever to the point just before the first drop of water enters the group). Do this about 5-10 times, until the La P has reached the temp you want.
I adjust the temperature setting down by sometimes dipping the portafilter in water or raising a cup full of water to immerse the group-head.
Target:
80-87C dark roast;
85-91C medium roast;
89-93C for light roast
I read somewhere a study done by Bong Juachon in which he tested Gen. 1, Gen 2, and Gen. 3 machines.
The results were as follows:
Group Head Pull Temp Gen1 Gen2 Gen3
75 - 95.3 -
80 92.8 99.2 84.9
85 98.7 102.9 91.9
90 - 107 98.7
I have a Gen 3 machine, so my aim is to get the GHP Temp somewhere between 80C & 86C.
Part No. 327053 - For Post 2000 models, the outer diameter is 60 mm, internal diameter 53 mm,
holds 14 to 16 grams of coffee and fits a 51 mm tamper.
Single shot
This takes 7-8 grams
These doses are for medium roasts.
For lighter roasts (which are a little harder to extract), I like to use less coffee.
-------------------------
Ratios:
The ristretto shot is also known as a restricted shot,
and typically features a brew ratio between 1:1 and 1:1.5.
A traditional espresso is typically 1:2-1:2.5A
A lungo, or long shot, is usually about 1:3 to 1:4.
---------------------------------------------
Method (double shot):
The normal double basket output from a La Pavoni is between 26 and 30 grams or mls (when the group is at the correct temperature).
Aim for 1.5 grams of espresso for every sec of brewing.
Thus 26g of espresso should take about 17 secs.
I like a shot pull time to be between 20 to 25 secs
Alter the dose to get the flow time and lever resistance that you want. When you have that, experiment for flavour by altering the tamp force and grind, but always changing them in tandem so the flow rate and lever resistance aren't thrown off.
Grind size for light roast: 3 (Vario VS3 grinder).
Light tamp. 16g in, 32g out. 8sec pre infusion, 25secs total.
Grind size for dark roast: 3.5 (Vario VS3 grinder).
Light tamp. 14g in, 32g out. 8sec pre infusion, 25secs total.
The easiest way to do this is to put 30 grams (mls) of water into a glass before ever making single shots.
Mark the outside of the glass with tape. This is the target amount.
If you always use the same glass you will quickly learn the proper depth. Too long a shot will be bitter.
The boiler pressure & temperature will effect the pre-infusion stage (in addition to grind size, Tamp, roast degree, etc)
The water in the Europiccola boiler is at a much higher temperature (around 120°C) than that required to extract the coffee (90-94°C). It cools as it leaves the boiler & comes into contact with the grouphead.
Pre infusion should last between 6-10 secs... depends on your taste preference.
It can be varied even more if you add pressure (active vs passive).
Thus the 4 main types of prefusion available are:
a. short (6 -10 secs)
b. short + pressure
c. long
d. long + pressure (15-20 secs)
If you are adding pressure to your pre-nfusion, its useful to add a pressure gauge (to the grouphead).
Usually a short pre-infusion is preferable when you want to accentuate the acidity but at the expense of body. With a long pre-infusion instead, the acidity is usually softened and the body will benefit.
Note: Lighter roasts need longer pre-infusion.
Light roast: 8-15 sec pre-infusion.
Medium roast: 6-8 sec pre-infusion.
Dark roast: 4-5 sec pre-infusion. (If you grind coarser it should still extract in 25-30 secs)
My method:
1. Wait for the critical thermometer reading that you have noted to give good brewing in the past, then insert the basket.
2. raise the handle to just under the point at which water is allowed into the brewing head. This is your pre-infusion point.
I then wait seven or so seconds.
You can give it a gentle pull (about 2 bars) until the first drop of espresso appears.
This is the Pre-infusion.
3. When the coffee begins to drip I usually raise the lever again (Fellini move) and begin the main pull,
applying about 6-9 bars .
The amount of force will depend on the grind size, roast of coffee, etc
Extraction must be between 25 and 30 seconds (with preinfusion).
On professional machines, it is recommended to extract the coffee with a pressure of 9 bar.
I tend to use a lower 6-8 bars which gently descends to 3 or 4 bars.
Another method is to do just one pull.
Softly at first until the first drops come, then full pressure down.
The nice thing about these manual levers is that there are infinite variations to coax the best flavors from your coffee.
I aim for the shot to pull between 25 to 30 secs
My fav ratio is 1:1.5
So for 14g in, I'll aim to get 32g out in 25 to 30 secs
A common profile would be relatively low pressure (1-3 bar) preinfusion for 10-30 seconds,
followed by full pressure (6-9 bar) for 20-40 seconds.
--------------------------------------------------
Single shot
I think the La Pavoni single basket is designed for a long shot style 1:3 espresso.
6.5g-8g load in and about 21- 24g out.
Or
with a 1:4 ratio 7g in will get 28-30 g out (still aiming for 20-25 secs).
If you aim for a 1:2 ratio you will still get a respectable 14 to 15gm out from 7g in
in 20 - 25 secs (experiment with a finer grind size)
Experiment of course.
Works great with dark roasts.
I love pulling espressos, so if i can master using the smaller basket, i can pull more shots per day and not overdose on coffee.
---------------------
I have a old elektra lever machine.
The Elektra has a larger group head ( thus it has better heat dissipation and temperature stability between shots). The metal mass between the two is very high.
One advantage of the Pavoni is its small size & fast warmup.
The Gen 1 (from the 1960s) had a brass sleeve in the group head and was water heated (boiler water fills the grouphead).
The Gen 3 (Post mill) Pav is essentially the same ... it has an internal group head sleeve that circulates hot water from the boiler with dry pumps. This allows much faster warmup without the need for a water flush.
The Gen 2 (up till 1999 Pre-mill) Pavoni doesn't have an internal sleeve but it has the group head directly connected to the hot steam from the boiler.
Thus you'll experience a very fast warmup but also a risk of much higher overheating.
One final note... if you are measuring the temp of the group head from the outside with one of those stick on or electronic thermometers , the internal puck temp and group head temperature will be different .... by roughly 10°C.
So if you suffer from OCD ;-) , you will need to place your sensor inside the puck.
'
----------------
Trouble shooting
If you've got too much bitterness in your cup chances are you've
ground too fine, or brewed a bit hot. So grind coarser, or drop the temp.
If you've got too much sour, ... well the opposite.
Grind finer and go a bit hotter.
Aim for 1.5 grams of espresso for every 1 sec of brewing.
(divide weight out by 1.5)... error +/- 3 secs
7g in, 14 g out , 9 secs
13g in , 26 g out, 17 sec
14g in. 28 g out, 18 secs
16g in , 32 g out, 21 sec
18g in, 36 g out, 24 sec
20g in , 40 g out , 27 sec
------------------
Europiccola evolution
Generation 1
Year 1961 EN (sn 218) (v. 1.0)
Year 1961 EN (sn 1012)(v. 1.1)
Year 1962 EN (sn 2259)(v. 1.2)
Year 1963~1964 EN (sn 4253)(v. 1.3)
Year 1964~1968 EN (sn 7556)(v. 1.4)
Year 1968~1970 EN (A6137 )(v. 1.5)
Year 1973~1974 EN (sn 50116 )(v. 1.7)
Generation 2
1975-77 EN(9/77) (V.2.0)
1978
1978-83
1984-91
1991
1991-1993
1993-1997
1997-2001 (V 2.6)
Generation 3
2001-2007 (v 3.0)
2007 - present (V.3.1)
Coffee Sensor -- one of my fav places
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Coffee index. Click here :
Thursday, 19 October 2023
Coffee Profiling 101 - Temp, Pressure & flow.
What's coffee profiling?
It's basically one's attempt to develop coffee recipes that you can repeat & apply to get
a great espresso.
It is about achieving the perfect balance between sweetness, acidity, and bitterness.
The flavour of your coffee will depend on many factors, such as the type of coffee beans, degree of
roast freshness, temp of the group head, pressure & flow, coarseness or fineness of the grind, initial dose of ground coffee, your ratio and tamping pressure.
It's all very complex and daunting at first. This is why I love the subject of coffee. The goal of that perfect cup is probably NEVER attainable but the path is so interesting.... a quest for the holy grail.
This post covers mostly 3 factors ... Temp, pressure & flow
Brew Temperature:
Temp profiling (the standard range is between 85 degrees - 95 deg C).
Many tasting panels have found that espresso is more bitter and astringent when it was brewed at 96 °C and 98 °C.... but you be the judge.
The hotter you go, the more you will extract.
General rule of thumb:
Light roasts - 90 - 95C
Medium roasts - 88 to 92
Dark roasts - 85C to 90C
Getting the correct temp is really difficult esp with old lever machines like the Europicola & Elektra La casa. Temp surfing is a real art. That's why people started to put PIDs on them.
And there is the argument of flat line temp brewing vs actively changing temps during the brew.
People talk about peak temps or average temps. Most machines produce a range of temps. But what's impt is I think consistency from brew to brew.
There are many different methods to Temperature surf. You can draw water out of the group head before pulling a shot to either raise or lower the temp (depends on the machine).
How does the temp effect the taste?
Remember, The hotter you go, the more you will extract.
The ranges are just a window. They can have an effect on taste, though things like Ratio & or the initial dose can have a bigger impact.
However what's the connection between flow rate & pressure & how does this connect with:
Flow rate profiling & Pressure profiling.
The flow rate is the volume of water that goes through the coffee grounds in a given amount of time.
pressure is the force that the water exerts on the coffee grounds throughout the extraction process.
On the Elektra, if you get the group head to about 70c, keeping the boiler pressure at an average of 1 to 1.25 bars, then the water in the group head should be around 90-95C.
The La Pavoni Europiccola / Professional behaves very differently.
The group head has less mass, so the temp is closer to the temp of the brew water. It's probably good to add a heatsink to the group head.
On the La Pav, if you get the group head to about 80-83 c, and keep the boiler pressure at an average of 0.5-0.7 bars (I think this equates to 116C), then the water in the group head should be around 96C.
Brew Pressure:
Pressure = flow x resistance.
In our case, resistance is the puck.
The puck will degrade as you blast it with water pressure.
Thus, pressure will generally decrease as you approach the end of the brew.
Most pump espresso machines use a straight 9 bars of pressure.
There appears to be a peak of flow for most espresso machines at 9 bars.
On a lever machine you can change/maintain the pressure as you brew.
Brewing can be divided into 2 stages.
Stage 1 : Pre-infusion - this stage starts the moment water enters the basket and ends when the machine has reached it peak brewing pressure.
The aim is to get all the coffee evenly wet before the peak force pushes through the puck.
Increasing the time of pre-infusion will promote evenness of extraction leading to better tasting coffee.
Typically, pre-infusion pressure falls within the range of 0.5 to 4 bars. Espresso machines usually have 1 to 2 bars allocated for pre-infusion.
The ideal Start Time of pre-infusion is between 8 - 12 secs.
If Flow starts after 1–6 secs the espresso will usually be under extracted.
If Flow starts after 12 secs the espresso will usually be over extracted.
On a spring lever machine such as the Londinium, Faema Famenia or Elektra La Casa,
you would pull the lever down, preinfuse (for as long as you like) then let go of the lever and
watch it go up. They are really easy, forgiving machines.
The type of coffee will have a big impact.
Generally:
Light roasts tend to be dense so need a long pre-infusion (up to 5-8 secs)
Medium roasts like a shorter 5 sec pre infusion
Dark roasts can be quite bitter ... use a 2-4 sec pre infusion
Stage 2: Main brew.
In a electric pump machine the pressure is fixed ... usually 9 bars or 8 bars.
You could set it to 7 or six. ??
The higher the pressure, the finer you can grind.
The disadvantage of using higher pressures is that water looks to channels at these high pressures .
Which is bad for evenness.
At lower pressures, there is less tendency to form channels in the coffee. You can also grind coarser.
and your shot can be more balanced.
This is a reason in favour of old school lever machines.... as your shot progresses, the pressure decreases, making channeling less likely.
Flow Rate
Factors like grind size, tamp pressure, water pressure & water temperature have a significant influence on flow rate.
Coffee roast levels and age of beans also effect this.
Flow and pressure are related.
Pressure is an input to your recipe, where Flow is an output
Flow rate is typically calculated by measuring the quantity of water that flows from an espresso machine group head over a fixed amount of time. The total weight of water is then divided by the time, giving us a figure in grams per second (g/s).
In theory, controlling the rate at which brew water passes through the coffee – or flow profiling – will enable the barista to precisely target acidity, sweetness, bitterness, and body to create a unique espresso shot.
Summary:
Light roasts tend to be dense so there is a greater need for long pre-infusions (up to 5-8 secs) and a slow flow 2-3 g/s.
Then increase the flow for 5-8 seconds until you achieve 5-7 g/s of coffee.
Medium roasts need a faster flow ... use a 5 sec pre infusion of 5-6g/s.
Then, increase the flow by 30% at 6.5 to 8 g/s.
Dark roasts can be quite bitter ... use a 2-4 sec pre infusion of 10g/s
Then lower the flow rate to 4 grams per second
This is all a personal taste thing. So do what tastes good for you.
I think the important things are:
1. avoid channeling. Use a naked portafilter to check for channeling.
drop the pressure if you see channeling.
2. Have small changes to flow ... ie small gradual changes in pressure are good.
3. Longer pre-infusion... make sure the puck is saturated.
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Coffee index. Click here :
Saturday, 14 October 2023
Wednesday, 11 October 2023
Tuesday, 10 October 2023
Fairlight - making custom disks (on the Flash drive)
Some first steps in making your own virtual discs.
This is a great way to create some "favourites" or personal folders
using your own or the stock sounds.
I'm using a CMI IIx with a Mustudio flash kit.
I simply copied an existing folder on the SD card supplied with the CMI flash Kit using a PC,
renamed it then, copied it back onto the SD card.
In this case, I called the new file 666.
I didn't have to modify it at all. I just copied it using a PC into folder 1.3.
Now it's simply a process of searching for voice files you like,
& then loading them into the IIx memory using the command:
L,A,<file name> return
Once they are in memory, return to file 666
using the left/right buttons on the flash card reader.
and save into this file using the command:
S,<file name> return
If it doesn't work the first time, refresh the 6800 file using the command
P2 (page 2)
Then try saving again.
-------------
Renaming the disk & user name
Use the <down-arrow> keys to move the illuminated cursor to
DISK or USER .
Type : your new name <SET>
---------------------------------------------------------------------------------------------
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IPG - IPD Group Ltd
IPG
2026 aug
...................
Over the last 5 years (FY2021 to FY2025/2026), IPD Group Ltd (ASX:IPG) has experienced stellar growth driven by demand in data centers, infrastructure, and the electrification sector. Revenue surged from roughly AU$118 million in FY2021 to over AU$354 million by FY2025, while net profit after tax (NPAT) expanded to AU$26.2 million. [1, 2, 3, 4]
Profit & Revenue Growth
- Revenue: Scaled dramatically at an average annual growth rate of over 32% across the five-year stretch, reaching a trailing twelve-month (TTM) revenue of AU$370.4 million. [1, 2]
Debt & Capital Structure
- Long-Term Debt: Maintained at manageable levels, fluctuating between roughly AU$11 million and AU$41 million over recent cycles depending on acquisition financing, balanced by solid operational cash flows.
Return on Equity (ROE) & Returns
- ROE: Strong profitability yielded a consistent Return on Equity typically ranging between 15% and 22% over the multi-year period (currently tracking around 16.3%). [1]
...............................................
IPD Group Limited (ASX:IPG) trades at a current P/E ratio of roughly 15.1x to 18.7x, with recent historical annual P/E ratios fluctuating between roughly 11x and 24x over recent years, alongside a Return on Equity (ROE) averaging near 15.5%. [1, 2]
Valuation and P/E Ratios
- Current P/E Ratio: ~15.1x – 18.7x
- 2025 P/E Ratio: ~11.8x – 12.9x
- 2024 P/E Ratio: ~19.5x – 20.5x
- 2023 P/E Ratio: ~22.3x – 24.3x
Profitability and Returns
- FY2025 Return on Equity (ROE): 15.97%
- FY2024 Return on Equity (ROE): 15.43%
- FY2025 NPAT (Net Profit After Tax): $26.19 million
- FY2024 NPAT: $22.36 million [1]
Key Financial Metrics
....................................
For IPD Group Limited (ASX:IPG), a full 10-year historical track record of annual Return on Invested Capital (ROIC) versus Weighted Average Cost of Capital (WACC) is unavailable because the company only listed on the ASX in December 2021. Current trailing data shows an ROIC of approximately 12.8% to 17.65% against a WACC of about 12.2% to 12.8%, indicating the company is generating positive excess economic value. [1, 2, 3, 4, 5, 6]
Current Return Metrics
- ROIC / Return on Capital: ~12.83% to 17.65% (trailing twelve months)
- WACC: ~12.22% to 12.80%
Public Trading Context
- IPO Date: December 16, 2021 at an initial listing price of A$1.20.
- Data Limitations: Because IPD Group operated as a private entity prior to late 2021, a complete year-by-year 10-year public spread history cannot be computed from audited public exchange filings
.................................
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