Try this. Use the forecast EBITA for end of financial year that SWT fprecast back in June or whatever.
They have reached that number of customers now..5 months early, so it would be reasonable to assume they have reached that EBITA now or in the near future ( approx).
In june, obviously customer numbers will be a lot more than they expected. Fixed costs will remain unchanged, variable costs obviously increased but at a decreasing rate per customer due to scale.
So fair to say that SWT was cheap based on forecast EBITA. PE of 13 or something. Also it would be reasonable to assume that if customer numbers are about 50 % more, profit will be also a good percentage more, and so SWT undervalued.
But if you want to wait for concrete evidence, then as Stockdoctor very well put it, your risk is lower, but your reward also be much lower, as unfortunately everyone else that can do some projections will have already been set in the stock.
The only risk free investment is capital guarentee which is around 4.5 % pa. If you want more return than this, no matter what it is, it will involve some risk.
