Given that MLB have now closed the Outware acquisition back in...

Given that MLB have now closed the Outware acquisition back in Feb, and including the latest acquisition of WME Group, i am expecting Run-Rate Revenues of between $220M to $260M. I like the funding mix of both acquisitions, and i think the acquisition multiples are sensibly priced. They should provide significant growth for MLB in the coming years - Management have done a great job.

As per management guidance, Mid-Range FY17 EBITDA guidance is expected to be $39.5M. Assuming FY17 D&A of $10.67M, FY17 Interest Expense of $1.45M and 32.5% Corp Tax rate for FY17, my calcs have NPAT of $18.5M for FY17.

Taking into consideration the dilution from these two deals, Current Shares Outstanding are 116.85M so EPS for FY17 should be around $0.158/share. Slap a 21 x multiple on it and the stocks probably worth around $3.32 at this stage. Given the momentum in the business, i would not be surprised to see Management continue their acquisition spree going forward.