PVZ:
Well, I don't want to get too much into the financial statements on TYCO (and reveal my ignorance, or reveal more of my ignorance), but EBITDA:INT COST is about 5.8:1, so debt doesn't seem to be much of a problem. I can't recall what made intangible assets zoom so much in this company (hokay, even I know it was acquisitions, and I suppose the new accounting rules?) but balance sheets have never, in and of themselves, interested me. The question, I suppose is can they meet their earnings ($3) in 2003, which gives you a company for roughly 3X earnings.
Someone noted that the conglomerate itself is not as valuable as once believed, but that has to be reflected already in the $63 to $10 price plunge.
It's doing a very good impression of a bounce here, back to 11.50, fwiw.
Kb |
