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Strategies & Market Trends : Value Investing
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Lance Bredvold
To: bruwin who wrote (66576)2/19/2021 1:35:39 PM
From: JohnyP2 Recommendations  Read Replies (1) of 78819
 
I like the approach, I see 2 mistakes here. UAN is a MLP. They are not paying taxes on corporate income, so that 20% tax rate will be 0%. Then 30% of Net income as distribution is far too low, a MLP will distribute close to 100% as a payout ratio.

Changing those 2 assumptions and using your logic the revenue needed will get to around $580Million, which seems reasonable.
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