Global Value Investing

[Drexion2004]

All these numbers sure do 'jive' with our model forecasts when you look forward. I'd probably argue that I would not pay 6x EBITDA for a company like this, so i'd use a 5x multiple instead.

From my perspective, throw some more margin-of-error in there and assume 400M EBITDA stabilization in the future (Yea its a nice round number)... 5x EBITDA and EV should be 2Billion.

Of course, the open question is how much debt will be retired between now and when the EBITDA stabilizes at that 400M mark.

-Fernando