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Earthstone Energy, Inc. Message Board

  • realinvestmentstrategies realinvestmentstrategies Mar 21, 2013 7:12 AM Flag

    Comparing FPP to ESTE.

    FPP just released their 10K, so I thought it might be interesting to compare some of the metrics to ESTE, similar to my previous post comparing KOG to ESTE.

    Market cap
    FPP: 32.2M
    ESTE: 28.1M
    Ratio: 1.146/1

    BOE
    KOG: 1.932M
    ESTE: 1.895M
    Ratio: 1.019/1

    Last quarter revenues
    KOG: 2.794M
    ESTE: 2.834M
    Ratio: .986/1

    Net tangible book value
    KOG: 11.8M
    ESTE: 19.6M
    Ratio: .602/1

    Conclusion, FPP gets a greater premium on its share price than is justified by the BOE, quarterly revenues or net tangible book value. The premium is small on the BOE and quarterly revenues, but quite substantial regarding the net tangible book value.

    The book value is particularly interesting to me, because it appears ESTE can fund quite a bit more expansion without diluting its shares. A similar expansion by FPP would probably require some additional equity infused into the company.

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ESTE
24.81+1.17(+4.95%)Oct 21 4:00 PMEDT

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