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Strategies & Market Trends : Contrarian Investing -- Ignore unavailable to you. Want to Upgrade?

To: pcyhuang who wrote (539)	10/19/2006 3:03:08 PM
From: puborectalis	Respond to of 4080

CVLT....recent ipo that is a Lucent spinoff.

To: pcyhuang who wrote (539)	10/20/2006 12:04:37 AM
From: Spekulatius	Read Replies (1) \| Respond to of 4080

I question how Peck arrives at a 10.6 EBITDA margin (which is not exactly my preferred operating metric anyways). YHOO's FCF calculation does not follow the conventions that I am used to see because it's based on pre-tax earnings rather than post tax. Per my calculation EBITDA should be around 1.9B$ annually, which translates into a valuation of about 17x EBITDA. Some analyst subtract that value of stock holdings ( Yahoo Japan (YHOO owns 80% but could this be sold?) from EV but did they also subtract the substantial equity earnings from the income statement. Those number just don't add up. big red flags like the substantial stock option expense are not even mentioned.