Creating or destroying shareholder value??, page-13

I agree that organic growth is important, however given that the industry is highly fragmented i think a roll-up strategy is ideal. This is provided that AFJ can acquire quality centers at attractive multiples and demonstrate successful implementation. I suspect that the EBIT multiple for more recent acquisitions would be closer to c. 6.0x vs the 51 centers in Apr-14 at 5.2x and the IPO grouping at 4.1x.

I would be very interested to see the company report LFL revenue for the 2014 center grouping, so as to monitor underlying performance.

Anyone have an idea an average revenue / center metric?