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Vintage Petroleum, Inc. (VPI) Message Board

  • zebra887 zebra887 Apr 11, 2000 1:04 AM Flag

    EBITDA Multiples for E&Ps

    EBITDA - earings before income tax, depreciation
    and amortization = one measure of "cash fllow"
    .

    EBITDA Multiple - cash generated devided by number of
    shares outstanding devided into the current share
    price

    Using the data available from Yahoo on the profile
    boards, the following table was developed based on
    yesterday's closes and the admittedly old earnings data..


    EBITDA Multiple .......
    Debt/equity

    APA........ 6.00 ........ .71
    EEE........ 4.81 ........
    .82
    SFY........ 4.63 ........ 1.47
    OEI........ 4.63........
    1.41
    KP ........ 4.55 ........ .89
    VPI ........ 4.49
    ........ 1.45
    XTO........ 3.96 .........
    3.65
    RGO........ 3.88 ....... .56

    (sorry I missed POG, EOG
    and AOG)

    Interesting how closely grouped these
    E&Ps are at a 4.5 to 4.6 multiple to trailing
    EBITDA.

    Look at RGO - lowest multiple to cash flow, lowest
    debt.....read over on APA board that APA may be a suitor.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Included below are such other E&P stars as
      Canadian AOG, POG EOG FST.Remembering that low numbers
      here are good, notice which is on the very bottom with
      a low debt to equity level..Why its none other than
      Dan's pick - POGVPI is lower than half way down the
      list in terms of cash flow multiple.Revenue growth
      would likely be a factor for further consideration of
      investment realtive attractivieness. In that regard VPI
      would likely ascend further to the top of the group.
      First quater updates will indeed be interesting.List is
      devided into groupings....notice that the big cap
      companies have the higher multiples.EBITDA Multiple .......
      Debt/equityAOG........ 6.53 ............62APA.......... 6.00...........
      .71UPR..........5.81...........2.99EOG..........5.78............ .88EEE.........
      4.81................82SFY......... 4.63............ 1.47OEI..........
      4.63............ 1.41KP........... 4.55..............
      .89VPI.......... 4.49............ 1.45FST.........
      4.34............ 1.17XTO........ 3.96 .......... 3.65RGO........
      3.88 .............56POG........ 2.97 .............80

      • 1 Reply to zebra887
      • Things came out a bit scrambled..maybe this will
        be better.



        EBITDA Multiple .......
        Debt/equity

        AOG�..... 6.53 ............62
        APA..........
        6.00...........
        .71
        UPR..........5.81...........2.99
        EOG..........5.78............
        .88
        ------------------------------------------------
        EEE......... 4.81...............82
        SFY.........
        4.63............ 1.47
        OEI.......... 4.63............
        1.41
        KP........... 4.55.............. .89
        VPI..........
        4.49............ 1.45
        FST......... 4.34............
        1.17
        ------------------------------------------------
        XTO........ 3.96 ........... 3.65
        RGO........ 3.88
        ..............56
        POG........ 2.97 ..............80

 

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