The more I look at EVS the more undervalued it seems. Current EV falls in around $100m with a conservative estimate of current remaining cash at bank ($24m post EMS transaction). Currently trading on a c.2.5x multiple off $40m arr (will be higher come FYE). Has consistently traded at 10x (or above) over the past 12 months. EVS is playing in a highly topical space - water and data. Consider it the new oil. They also have direct access to a very large and largely untapped market in China. Succeeding in China is all about connections and your access to Government. EVS clearly win here with their strategic partnership with BHZQ. Won't be surprised to see the SP back at acquisition pricing in the near term (20c - $200m MC).
EVS Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
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