zagdad, my math works on my expected PE. It includes alot of assumptions that may or may not be correct:
- 1000 franchises generating $1000 per day in royalties = 300 million in royalties a year. Royalties are 99% pure profit. on a 20 PE = 6 billion company value. My math was on a conservative 10 PE, giving it a 3 billion value from the P2O business
- 10 million tapes/year @ $22 a piece = 220 million, on a 30% margin = 66 million profit/year, on a 20PE = 1.3 billion value
You welcome to change your assumptions, $80 maybe too high, but 2 digits PPS is almost 100%