Pivot Technology Solutions Inc. T.PTG

Technology

"Pivot Technology Solutions Inc offers IT solutions to businesses, government, education, and healthcare organizations. It operates through the following segments: ACS, ARC, ProSys, Sigma, TeraMach, Shared services. The company derives the maximum revenue from the ProSys segment which sells storage, server, and IT infrastructure consulting solutions to enterprises. Geographically, it derives majority revenue from the United States and also has a presence in other countries."

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Pivot Technology Solutions Inc. > Diluted earnings per share

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Comment by lscfaon Aug 09, 2017 9:16am

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Post# 26560005

RE:RE:RE:Diluted earnings per share

"Net debt" needs to be modified for this co. The secured borrowings fluctuates with business volume but working capital is relatively constant. Net debt should be ~ $60 million

	Q2	Q1	Q4
Current assets	415,519	344,082	391,323
Current liabilities	477,175	407,276	451,540
Working capital	-61,656	-63,194	-60,217
Other fin liabilities	-2,588	-2,367	-2,228
Net debt	-64,244	-65,561	-62,445

Secured borrowings	137,916	88,822	136,377

ValuKing wrote: If you're going to value on ebitda, market cap isn't the true value of a company's size. You should you enterprise value which adds net debt to market cap. If you look at it this way, it looks like it's trading closer to 10 times expected ebitda, which to me seems really rich for a value added reseller with 1.8% margins.

digitel wrote: Echelon expects 80% of EBITDA for the year to come in the second half due to seasonality. Given PTG.to has reported US$5.7 million in EBITDA in the first half that works out to annual EBITDA expectation of US$28.5 million. In Canadian dollars that is C$36.2 million in EBITDA that is expected. With a market cap of C$107 million PTG is selling at approximately 3 times 2017 expected EBITDA.