Below is a comparison of ATHM, SOFN, and HSAC (low (L) and high (H)) on the basis of Revenue and the implied value of one home passed. These numbers are then extrapolated out and applied to SOFN and HSAC. In other words, ATHM is the benchmark.
This is NOT a valuation, ONLY A COMPARISON.
It is my opinion that HSAC (that's why I'm on the thread to begin with) should be awarded a premium built into the comparison in the range of 30% due to its specific characteristics. I will elaborate on these in my next posting.
Do not complain about the formatting.
Again this is my opinion . . . no attacks please.
Price/~Shares/Est. Mkt. Cap
ATHM 96.00/ 125,700,000/ 12,067,200,000
SOFN 23.75/ 13,900,000/ 330,125,000
HSAC 20.31/ 53,791,898/ 1,092,647,928
2000E/ Value of/
Homes/ 1 Home/ Implied Price
Passed/ /ATHM = 1.00
ATHM 72,690,000/ 166.01/
SOFN 2,400,000/ 137.55/ $ 28.66
HSAC (L) 11,600,000/ 94.19/ $ 35.80
HSAC (H) 48,000,000/ 22.76/ $ 148.13
2000E/ Revenue/ Implied Price
Revenues/ Multiple /ATHM = 1.00
ATHM 369,000,000/ 32.70/
SOFN 12,000,000/ 27.51/ $ 28.23
HSAC (L) 25,100,000/ 43.53/ $ 15.26
HSAC (H) 100,800,000/ 10.84/ $ 61.28 |
