Trade stalk Apiam Animal Health, page-6

Sorry all…I realised I've made a glaring mistake in my calcs with the number of shares outstanding and HC is not letting me edit/delete my comment so apologies (note to self in the future don't reply to HC threads while on a teams work call… )
So based on total shares outstanding of 182.5mil (NOT 89.4mil), and 13.5x multiple applied to $20.3mil EBITDA and $15.8mil EBITA results in $1.50 and $1.17 share price respectively.
Assuming a 6x multiple gives 67c and 52c per share respectively, which is not far off current share price.
Apologies all again for the confusion!