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Valeant Pharmaceuticals International, Inc. Message Board

  • smallercap smallercap Mar 2, 2000 4:53 PM Flag

    Strong QRT

    Just listened to the CC. Company had 177 million
    in cash year end. No bank debt. Total bond debt of
    600mill approx. Net income for the QTR 38 million. I
    cannot find another company with a market cap of 1.6
    billion making this kind of money, growing at this rate.
    Cashflow is spectacular. 2 strong qrts in a row. The
    valuation is very unfortunate, but that will change in
    time...I hope.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • (1) Agreed that the valuation is ridiculously low
      given the earnings and cash flow levels. At 22/share,
      ICN is trading at 15 pe (11.7 forward pe). Would
      think that up to 20x trailing and 15x forward would be
      quite attractive to institutional value investors. Top
      of reasonable range would be around 30x pe trailing,
      and 20x forward looking. Gives a nice target range of
      between 28 and 43 for a near term
      valuation.

      (2)Love the idea of an IPO for the EE operations. I think
      it would be a mistake to sell them for cash to some
      other pharma, as they are completely undervalued today.
      Trading seperately, however, will attract the right kind
      of investors who are interested in the EE as an
      emerging high growth market. Bring on the IPO.

      • 2 Replies to CDSAFARI
      • This company is dirt cheap. I bought a pisspot
        full today and I am surprized by the low close. The
        reason is that few brokers follow this company.
        I
        agree with your conservative price targets. I like it
        for its value. I would like to see an IPO of the
        Eastern European operations which will likely soon begin
        to yield strong profits as those economies grow. ICN
        is strongly positioned there.

      • Was also suprised that the stock price didn't
        increase by more. Not even up $1 at close. Perhaps we will
        see the same trend on the way up as we saw on the way
        down (e.g. $0.50 - 1.00 movement per day steady and
        continuously). Let's hope!!!!

 
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