|Shares Out. (in M):||48||P/E||17.5x||12.9x|
|Market Cap (in $M):||169||P/FCF||NM||NM|
|Net Debt (in $M):||-2||EBIT||13||15|
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Customers: Foundry, metal service center, job shops, OEM’s. 2/3 of their customers use waterjets to cut metal.
Why I like FLOW:
Why I think FLOW will be sold:
FLOW did acknowledge weakness related to sequestration on their March call but still guided to $65m of revenue for FQ4 13 (Q ending April 13).
My other LBO model assumptions are –
Offer Price - $4.5, +30% (10.1x FY 14 EBITDA)
Leverage – 5x (Debt 50% / Equity 50%)
Exit Multiple – 8.5x
Annual Revenue Growth – 2.5%
Annual Margin Expansion – 1%
Interest Rate – 7%
Tax Rate – 35%
Are you sure you want to close this position FLOW INTL CORP?
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