The third value in our sample, we choose Fusion io, a hardware vendor. You remember: The first internet hype about the millennium was flushed with the second and third upward wave (ie the portal and e-commerce stocks had been exhausted) the title of top hardware. At that time, the companies that form the backbone of the Internet were virtually: fiberglass specialists, router vendors, etc.
Today there are companies that are driving the mobile Internet technology, such as ARM Holdings (chips for smart phones) or Fusion io. Fusion io has developed a new platform for storing and Wiederabrufbarkeit of data within a data center. Active data is closer to the central computer unit transported. The data processing capacity is increased considerably. The most important customer: Apple! The company was in the last quarter thanks to higher sales of Apple even clearly profitable. In the current quarter, sales of the Steve Jobs-but-firm should go back a little.
The market cares but little. The stock is trading more than 70 percent above the already too ambitious IPO price. Fusion io achieved in the last nine months, sales of 125.5 million U.S. dollars. Extrapolated, this results in an annualized sales level of 166.5 million U.S. dollars. The current market capitalization is 2.5 billion U.S. dollars. The price to sales ratio is thus at 15 For a hardware manufacturer that is an extremely high value.
Incidentally, Facebook as the flyer of the Web 2.0 scene is currently estimated at a value of 100 billion U.S. dollars. Revenues are expected in 2011 at 5 billion U.S. dollars. The PSR is therefore about 20 Unlike the other companies mentioned, Facebook is already highly profitable: In 2011, the net profit of two billion U.S. dollars. The PER amounts so given the extreme good market position and highly profitable business model viable 50th
The problem: You probably will get hardly any private equity investor at this valuation level to the depot.
MY CONCLUSION:
- The Web 2.0-shares, ie the second generation of Internet stocks are valued exorbitantly high.
- The first internet hype of the late 90s shows: real winner shares at these valuation levels are extremely rare.
- With the price-sales ratio of 15 to 26 the risks are both Pandora Media, as well as LinkedIn and Fusion io far too high.
See also the qualitative analysis of Pandora Media in the second part of the update ...
Today there are companies that are driving the mobile Internet technology, such as ARM Holdings (chips for smart phones) or Fusion io. Fusion io has developed a new platform for storing and Wiederabrufbarkeit of data within a data center. Active data is closer to the central computer unit transported. The data processing capacity is increased considerably. The most important customer: Apple! The company was in the last quarter thanks to higher sales of Apple even clearly profitable. In the current quarter, sales of the Steve Jobs-but-firm should go back a little.
The market cares but little. The stock is trading more than 70 percent above the already too ambitious IPO price. Fusion io achieved in the last nine months, sales of 125.5 million U.S. dollars. Extrapolated, this results in an annualized sales level of 166.5 million U.S. dollars. The current market capitalization is 2.5 billion U.S. dollars. The price to sales ratio is thus at 15 For a hardware manufacturer that is an extremely high value.
Incidentally, Facebook as the flyer of the Web 2.0 scene is currently estimated at a value of 100 billion U.S. dollars. Revenues are expected in 2011 at 5 billion U.S. dollars. The PSR is therefore about 20 Unlike the other companies mentioned, Facebook is already highly profitable: In 2011, the net profit of two billion U.S. dollars. The PER amounts so given the extreme good market position and highly profitable business model viable 50th
The problem: You probably will get hardly any private equity investor at this valuation level to the depot.
MY CONCLUSION:
- The Web 2.0-shares, ie the second generation of Internet stocks are valued exorbitantly high.
- The first internet hype of the late 90s shows: real winner shares at these valuation levels are extremely rare.
- With the price-sales ratio of 15 to 26 the risks are both Pandora Media, as well as LinkedIn and Fusion io far too high.
See also the qualitative analysis of Pandora Media in the second part of the update ...
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