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Premier Exhibitions, Inc. (NAS:PRXI)
Enterprise Value
$58.40 Mil (As of Nov. 2013)

Think of enterprise value as the theoretical takeover price. It is more comprehensive than market capitalization (market cap), which only includes common equity. Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash and cash equivalents.

EV/EBIT ratio is calculated as enterprise value divided by its EBIT. As of today, Premier Exhibitions, Inc.'s enterprise value is $37.89 Mil. Premier Exhibitions, Inc.'s operating income for the trailing twelve months (TTM) ended in Nov. 2013 was $-0.41 Mil. Therefore, Premier Exhibitions, Inc.'s EV/EBIT ratio for today is .

EV/EBITDA ratio is calculated as enterprise value divided by its EBITDA. As of today, Premier Exhibitions, Inc.'s enterprise value is $37.89 Mil. Premier Exhibitions, Inc.'s earnings before depreciation and amortization for the trailing twelve months (TTM) ended in Nov. 2013 was $3.76 Mil. Therefore, Premier Exhibitions, Inc.'s EV/EBITDA ratio for today is 10.09.

EV/Revenue ratio is calculated as enterprise value divided by its Revenue. As of today, Premier Exhibitions, Inc.'s enterprise value is $37.89 Mil. Premier Exhibitions, Inc.'s revenue for the trailing twelve months (TTM) ended in Nov. 2013 was $29.81 Mil. Therefore, Premier Exhibitions, Inc.'s EV/Revenue ratio for today is 1.27.


Definition

Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash and cash equivalents.

Premier Exhibitions, Inc.'s Enterprise Value for the fiscal year that ended in Feb. 2013 is calculated as

Enterprise Value (A: Feb. 2013 )
=Market Cap+Preferred Stock+Long-Term Debt
=112.861+0+2.712
+Short-Term Debt Without Lease+Minority Interest-Cash and Cash Equivalents
+5.08+2.935-6.979
=116.61

Premier Exhibitions, Inc.'s Enterprise Value for the quarter that ended in Nov. 2013 is calculated as

Enterprise Value (Q: Nov. 2013 )
=Market Cap+Preferred Stock+Long-Term Debt
=58.2212+0+1.429
+Short-Term Debt Without Lease+Minority Interest-Cash and Cash Equivalents
+0.124+3.03-4.403
=58.40

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.


Explanation

When an investor buy a company, the investor needs to pay not only the common shares, he/she also needs to pay the shareholders of Preferred Stocks. He also assumes the debt of the company, and receives the cash on the company's balance sheet.

If a company has more cash than debt, the investor actually pays less than the Market Cap because he immediately owns the cash once the transaction goes through.

The market value of Preferred Stock needs to be added to the market value of common stocks in the calculation of enterprise value.

For the companies with the same Market Cap, the smaller the Enterprise Value is, the cheaper the company is.

Enterprise Value can be negative when the company's net cash is more than its Market Cap. In this case the investor is basically getting the company for free and get paid for that.

1. EV/EBIT ratio is calculated as enterprise value divided by its EBIT.

Premier Exhibitions, Inc.'s EV/EBIT for today is

EV/EBIT ratio=Enterprise Value (Today)/Operating Income (TTM)
=37.894/-0.409
=

Premier Exhibitions, Inc.'s current Enterprise Value is $37.89 Mil.
Premier Exhibitions, Inc.'s Operating Income for the trailing twelve months (TTM) ended in Nov. 2013 was -1.102 (Feb. 2013 ) + 1.263 (May. 2013 ) + -0.214 (Aug. 2013 ) + -0.356 (Nov. 2013 ) = $-0.41 Mil.

2. EV/EBITDA ratio is calculated as enterprise value divided by its EBITDA.

Premier Exhibitions, Inc.'s EV/EBITDA for today is:

Premier Exhibitions, Inc.'s current Enterprise Value is $37.89 Mil.
Premier Exhibitions, Inc.'s Earnings Before Depreciation and Amortization for the trailing twelve months (TTM) ended in Nov. 2013 was -0.223 (Feb. 2013 ) + 2.241 (May. 2013 ) + 0.938 (Aug. 2013 ) + 0.8 (Nov. 2013 ) = $3.76 Mil.

3. EV/Revenue ratio is calculated as enterprise value divided by its Revenue.

Premier Exhibitions, Inc.'s EV/Revenue for today is:

EV/Revenue ratio=Enterprise Value (Today)/Revenue (TTM)
=37.894/29.814
=1.27

Premier Exhibitions, Inc.'s current Enterprise Value is $37.89 Mil.
Premier Exhibitions, Inc.'s Earnings Before Depreciation and Amortization for the trailing twelve months (TTM) ended in Nov. 2013 was 6.663 (Feb. 2013 ) + 8.94 (May. 2013 ) + 7.819 (Aug. 2013 ) + 6.392 (Nov. 2013 ) = $29.81 Mil.

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.


Related Terms

Market Cap, Preferred Stock, Long-Term Debt, Cash and Cash Equivalents


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

Premier Exhibitions, Inc. Annual Data

Feb04Feb05Feb06Feb07Feb08Feb09Feb10Feb11Feb12Feb13
ev 22.4124.81101.67301.61126.6817.4745.2577.77115.57116.61

Premier Exhibitions, Inc. Quarterly Data

Aug11Nov11Feb12May12Aug12Nov12Feb13May13Aug13Nov13
ev 73.3479.88115.57119.49112.81130.98116.61101.9884.3958.40
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