I'd like to know what you think the correct math is, because this is a basic EPS and P/E metric that is used across the board for companies with positive earnings.
Now, if they aren't net positive, like TDOC for example, we can look at a revenue multiple and market cap.
TDOC is worth $17.6B and has generated $605M in the last 4 quarters giving it nearly a 29x multiple. Assuming we generate $10M a year that would put us at a $290M market cap. Since the O/S is around 92M you'd be looking at a $3.15 share price.