I like Evs mainly for the esg trend. I think it has the potential to be worth billions.
but even your chosen metrics for valuation are those of a ‘high growth tech stock’. I don’t think any cash flow negative companies valued at price to sales will be spared ‘if’ there is a significant spike in bond and interest rates
I’ve owned Evs for years and we have seemed to be on the cusp of self sustainability since 5c. Obviously covid and ems have affected my initial thesis, and while I wouldn’t say it is broken, I don’t want to suffer from thesis creep.
we now have a company in three parts which is tricky to value
water ? (10mil?)
aviation 32mil arr growing at 2%. What will that growth normalise to? 10% maybe. So fair value of maybe 2x sales (60mil)
omnis arr of 15mil growing 25%. So maybe a fair value of 6x sales (90mil).
I think the esg potential gives Evs another big bonus.
so while I’m not saying Evs is overvalued currently, it’s not crazy cheap as it was at <10c.
I was happy to hold but some other opportunities at present are just too hard not to go hard at.
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