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g12m0

3,968 Posts.

372

08/12/15

09:26

Post #: 16566213
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Originally posted by 68huey ↑

Ok, the last EBITA was $242M, therfore based on number of shares currently out there is roughly 512,457,716 shares.

Current offer of $1.35 per share equates to 2.85875 times EBITA (Last one)

242M EBITA

1.35 x 512,457,716 = $691817916.6 / 242000000 = 2.85875 times EBITA

If going by 6 times EBITA, then that would equate to roughtly $2.83 a share

Now looking at the last full year results, if i interpret it correctly they have roughly $810M in cash and assets, therefore looking at it if $1.35 got through for a takeover wouldnt Ferrovial effectively be buying TSE/BRS with the companies on money and asset value, this is not counting the brand name and goodwill the organisation should be worth over its asset\cash value....

Or have i interpreted this all incorrectly????

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6 times ebitda based on Enterprise Value. You have to add debt in your calculations

BRS Price at posting: $1.26 Sentiment: Buy Disclosure: Held
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0 Great analysis

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