Thank you for posting this report Jaanemann. Notwithstanding the analyst’s connection that DoNice (rightly) pointed out, I found the research both informative and credible. I particularly liked the $ valuations for Pyro’s different business lines and their associated timelines.

I don’t recall reading or hearing anything similar in Pyro’s annual reports or conference calls so, for me, it provided a lot more incremental value in terms of understanding the company’s growth and future prospects.

Sure, there’s many a slip between the cup and the lip (inflationary pressures, high interest rates, and lack of liquidity for example) and it might be a bumpy road, but we’ll certainly get there. 

The only thing I don’t like about the report is that it places a stock price valuation at $14/share. Given that this went up to almost $12/share around 18 months ago, and that the company has more products to offer since then, the upside is surely a multiple of that. 

-- Estimated size of total market - $13 billion.

-- Estimated Pyro’s share of total market - assume 25% - $4 Billion in revenue. Wow!

-- If we assume a margin of 25% does that mean a profit of approx. $1 billion? 

-- What does that equate to in terms of the share price?

I don’t know - I’m not a finance guy. Would love to know what the readers think.

Brgds,

A-G