BRY metrics tell the story Still unsure if BRY is undervalued? I've crunched some numbers to validate my investment thesis.
Total Assets = $74M
Total Debt = $28M (excluding ~$10M in leases it is ~$18M)
NAV = $46M
Total Shares = 23M
NAV = $2/share
Liquidation Value = $1.50 (discount NAV by 25%)
So the current closing trading price of $0.78 is 40% of the liquidation value.
Sounds like an amazing opportunity if they were about to shut the doors tomorrow. But this is far from reality.....
I expect net earnings of 18-20 cents in 2018. Likely currently trading at a 4 P/E based on 2018 earnings which make this the most undervalued O&G service stock I can find...even if they didn't hold a liquidation value of $35M or $1.50 in asset value per share.
Where else can you find a company that will do $120M in revenues at 8 to 10% EBITDA margins, with $46M in net assets and..... trading at a market cap of $16M. Please share if you know of others.
How about the markets pay us to take their shares???? The markets can be so unfair sometimes.