P10 Industries Inc. (PX)

[236T568]

A reminder that, because PIOE's business is not seasonal and because of the high rate of growth in gathering assets, you might want to use the latest quarterly revenues, net Income and cash flow per share and multiply by 4 to get the "normalized" figures to use in determining value...

at this point one can conclude that the current trading range of $1.20 to $1.38 is somewhat reasonably priced... Of course, as asset gathering increases, these figures will also increase.

It might be noted that the $100 million line of credit for an entity like this one is rather unusual, but the entity providing the line of Credit is a clean cut, white shoe lender/investor....something that is very positive for PIOE

OK, I’ll bite on your bait.

Tables don’t work too well in iHub posts, so I’ll just put my numbers in lines regarding your suggested metrics as follows (numbers from audited 2018 annual report):

Earnings (“Net Income”): $5.988M, $.067/sh, multiple = ?
Cash Flow: $6.842M, $.077/sh, multiple = ?
Book value: negative, negative, value = $0.
Revenues: $33.058M; $.37/sh, multiple = ?
Shareholders equity: $23.91M; $.268/sh, multiple = ?

If you want to argue with the numbers I’ve used, fine. Also fine is that since “tangible” book value is negative, a valuation of $0 is the only non-negative number you can generate. (Even a multiple of infinity would still give a negative number.)

Notes: I added shareholders equity to your list of "reasonable valuation metrics" even though I realize you probably wouldn't agree with that one being included. Just for grins let us say. The outstanding share count I used is as given in all their reports (rounded off), 89.235M shares.

Now, my real question is would you mind adding some reasonable and/or realistic multiple numbers so that I can calculate a more reasonable/realistic fair value number for PIOE’s share price?

-tia