Good to see you googled PEG and DCF to see what they mean. Nothing wrong with applying different valuation methodologies to companies, I chose DCF for a number of reasons, one being I treated MBE like I would a fully grown industrial just to see what I get. It's a nice way to understand a company's operational capabilities. In fact this methodology came out with a clear cut answer and one of the lowest valuations around. I could've been more bullish and just applied a growth criteria valuation which would place MBE's price in a place I don't want to visit yet and in which i think it's not appropriate.
Again I urge to just have a read of investing for growth and FLN is the best example (in fact Amazon is probably the best example) as they have been growing incredibly well but haven't seen a profit and probably won't until 2018 or something like that. Early days is all about investing in the business, technology and scale. If u get these things right profits will follow.
I'm intrigued, please indulge me and let us know which valuation method you used to say MBE is too expensive, and give me some assumptions please. Obviously u must be using something incredibly sophisticated for tech companies with early stages of international growth.
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