SPEG
Silver Pegasus Acquisition Corp.
$10.38
Stable Earnings Power
40%
P/Adj-EPS × Normalized Multiple
Strong
·
Conviction
Overvalued
Trading 115233.3% above fair value
Bear
$0.01
-99.9%
$0.00 × 12x P/E
Fair
$0.01
-99.9%
$0.00 × 15x P/E
Bull
$0.01
-99.9%
$0.00 × 18x P/E
Adjust Assumptions
15.0x
0.0$
Key Value Driver
Normalized P/E multiple (15x base case)
Implied Market Multiple
17300.0x
Summary
Applying a 15x P/E to adjusted EPS of $0.00, the base-case value is $0.01 per share.
Key Risks
- Growth DCF inappropriate — terminal value assumptions dominate
- EV/EBITDA misleading for regulated businesses where capex is mandated
- Regulatory risk is a fat tail not visible in normal multiples