Quick and dirty valuationJust a quick prospective on numbers and where we stand:
Sales F17: USD$46.75mil @ 1.25fx CAD$58.5mil
EBITDA F17 @25.5% margin: USD$12mil @ 1.25fx CAD$15mil
Cash as at Q3 F17: USD$7.2mil @ 1.25fx CAD$9mil (with all the one time expenses i am assuming the company didn't generate any cash in Q4).
Market Cap: $2.5 per/sh * ~40mil shares = $100mil
EV: $100mil (market cap) + $5.5mil (financial leases) - $9mil (cash) = $96.5mil
EV / Sales: 96.5/58.5 = 1.65x
EV / EBITDA: 96.5/15 = 6.4x
You be the judge at what multiples we should be trading with revenue growth of ~45% yoy, EBITDA margin on lower end at 25%, no debt and industry that is growing everyday.
IMO vmd is very cheap, we should be in $4-5/sh range just based on 2017 numbers.