P10 Industries Inc. (PX)

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After hours of research, the common industry standard for valuation of asset management firms is as follows, based on various factors, but let's look at the average:

$5 billion AUM asset management firm -

Last 12 months revenue multiple of 2.8x - 3.0x

Last 12 months EBITDA multiple of 9.0x - 10.0x.

TEV / AUM = 1.5% - 3.5%

So ballpark maybe around 2.5%
$5 billion AUM = $125mm Total enterprise value, without looking at any other figures.

So share price considering future revenues and growth? Again, using industry standards I arrive at $4-$6 without patent portfolio.

NOTE: I spoke to a couple college buddies of mine who work at much larger asset management firms (120 billion AUM) and they say publicly traded firms can be valued at up to 10% of AUM depending on performance.


References:

http://mercercapital.com/riavaluationinsights/valuation-of-asset-management-firms/

http://people.stern.nyu.edu/adamodar/pdfiles/papers/finfirm.pdf

http://www.northinfo.com/documents/618.pdf