Vainglorious, I'd be looking for profit to be much more than 1% of revenue, but I agree that profit is what it is all about. At current levels it is projected to be close to $3.00 per lb giving annual profit for Boseto of about $227m, which is impressive and considerably better than 1 out of 100.
The revenue based valuation approach is a copy from ASCI newsletter valuing VOR this week. I have simply substituted DML's figures and believe it as an acceptable method of valuing a small company. It certainly convinced a a multitude of VOR buyers on Friday.
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dml valuation for mid 2012, page-6
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