Mar. 11 at 2:03 PM
$JOB Activists like Star Equity have argued that the market is essentially "ignoring" the platform and only valuing the cash.
If JOB generates
$80M–
$90M in revenue, a
$60M Enterprise Value is only a 0.6x–0.7x revenue multiple. For a staffing firm, this is still a "value" or "distressed" multiple.
Because of the cash, the "downside" is historically protected at roughly
$0.18–
$0.20 (the cash value per share).
If you are playing for a sale, you are essentially betting that Roth can convince a buyer that the "platform" is worth more than the
$6M–
$10M "Enterprise Value" the market currently assigns it.
This is likely.
