That analysis pretty well matches mine, I have allowed for slightly more positive numbers to account for the recent Jets purchase. As far as I can ascertain Jets revenue is about $12m with high margins.
I like the fact they are purchasing young growing companies with potential, not burnt out duds. You could reasonably add 10% a year for future acquisitions which could be purchased with cash flow keeping them debt free.
PGR Price at posting:
64.0¢ Sentiment: Buy Disclosure: Held