RE: RE: RE: RE: RE: RE: Keith Schaefer comments Ok Superfrac, let's use your numbers as a hypothetical example. $750 per day rental on 440 tanks but only 50%, or 220 are being utilized, times 30 days in a month, and 12 months. That works out to $59,400,000 in revenue annually. And what percent of the $750 is their cost? If it is 50%, then they earn a net of $29,700,000 divided by 81,000,000 shares = a net of .36 cents per share annually. Put a 10 multiple on those earnings and the stock is worth approximately $3.60. Is that roughly your base case Superfrac?
Has anyone here inquired from IR as to what the average day rental fee is they are charging customers? If yes, what was IR's answer?
I believe I read that they have 500 tanks. If 50% are being utilized then per share net earnings on 250 tanks is .41 cents using the same assumptions as in the above calculation. Putting a 10 multiple on that would indicate the stock is worth $4.10.
Superfrac, a question for you would be, what size of tank are you quoting the $750 day rental rate for? Perhaps in your area you are using smaller tanks and Poseidon's tanks are larger and therefore they are able to charge a higher daily rate? Also, perhaps with the warming technology, the remote monitoring functions, and other technological/competetive advantages Poseidon is able to charge an even higher average daily rental rate. Is your company renting ANY tanks from Poseidon? Have you contacted Poseidon and asked what daily rental rate they would charge you?
I find it hard to believe that in this day of "data deluge" that we cannot find a solid number for a daily rental rate. Hasn't Poseidon already publicly announced or reported in quarterly earnings reports what their average daily rental rate is?
How about other sources in the industry which report such numbers as the average daily tank rental rate for various sized tanks?
That would also be a help.