RE:RE:RE:RE:EarningsBecause if you had annual net earnings of $10MM, X2 is market cap of $20MM / 290MM shares = about $.07 per share....a bit of a math problem is all.
A PE ratio would more likely be in the X15 to X35 range depending on what the market sees so if we were to average at X25 for the sake of the example then market cap would be $250MM / 290MM shares = $.86 per share.
So when someone speaks of a 2X for market cap, I would hope they're referring to PS (Price to Sales)
Hope that makes sense!