pmony5- TIK
Do you realize that no analyst out there worth their salt is taking EPS from non gaap EBITDA and using it to value a company ?
Bottom line is, TIK & the Seeking Alpha article are both using $.09 for the Dec qtr. That $.09(rounded off) is gotton from the calculation of $279,681 non gaap EBITDA/3,255,028 fully diluted shares. Therefore it't my assumption that they're carrying forward that same calculation on $7M/qtr revenues as of the Mar qtr vs the $5M posted in the Dec qtr.
The point I'm making is, even the more lenient analysts, only allow to transition from Net Income to non gaap earnings by adding back stock based compensation & amortizion, and of course any one time gains/losses. Depreciation, interest expense, taxes(if any), should not be added back, and any analyst doing so if way over inflating a companies eanrings IMO.
With TIK, evenb if we used the $7M/qtr estimated by the seeking alpha article, and tack on 30% margins, I am only coming up with $.13/qtr. For me to undersrand how the Seeking Alpha article author is coming up with $.35/qtr is to assume he's using the same non gaap EBITDA calculation on $7M in revenues, and in addition not likely increasing S,G,& A, which should be increased for sure for the 40% greater revenues. This earnings calculation using non gaap EBITDA in my veiw hugely over values earnings.
By the way pmony5, if you do think this valuation model is appropriate, you should look at ANGI. They came up with an non gaap EBITDA number which would suggest the stock is only selling for a 12 PE going forward, in a sector that supports 40 PEs going forward and higher !
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