Ann: JP Morgan Emerging Leaders Conference - GXL Presentation, page-14

Orlando G

GXL is valued at about 900m dollars

GXL has 230m debt

GXL generates about 22m per year in Operating Cash flow (if i am being generous). From this they need to pay tax, pay interest ($12m) and invest in their businesses.

This leaves about maybe $5m to $10m to return to shareholders in terms of dividends each year.

Even if they double their cash flow to $40m... the may have $30m to return to shareholders.

Thats still values the company at about 30 times cash flow.

Do you really see this company doubling in market cap?