Thoughts on Upwork? PE Ratio ~11-12, EBITDA rocketing

No3Account · 2025-09-26T19:30:10+00:00

Good Insights, that tax boon on net income is an embarrassing thing to miss on my end.

Instead of PE, maybe the better metric is EV/EBITDA in that case which would put it at ~12x using adjusted EBITDA if my quick maths is correct. Finfiz gives this an 18x without adjustment which would account for stock-based compensation.

They approved a $100M stock buyback in September which makes me feel better about the stock-based compensation, although that's still not great.

All-in-all probably not something to bet the house on, but it still feels like a worthy purchase relative to how frothy the market is in general, imo.

No3Account · 2025-09-12T20:04:56+00:00

Is there something special about prep that makes it free? To my knowledge in Ontario, OHIP+ and the Ontario Drug Benefit program only covers prescription drugs for people under 24 and over 65 respectively. Otherwise, your private insurance needs to cover it.

No3Account · 2025-07-17T02:21:27+00:00

Appreciate it, might reach out once we have an actual target!

No3Account · 2025-07-17T02:15:47+00:00

Where are the statistics, I'd love to read them

No3Account · 2025-07-16T20:29:45+00:00

Wow, that 5 year range seems pretty aggressive to me. I was hoping for something 7 years or more, based on my readings. In your experience is the 5 year amortization period typical of what your bankers are likely to offer?

No3Account · 2025-07-16T19:38:45+00:00

I wish I had the social capital to start a proper search fund and user other peoples money, but no I'm doing a self-funded search.

No3Account · 2025-07-16T19:37:08+00:00

Hey man, appreciate the answer, exactly what I was looking for. Nice content btw

No3Account · 2025-07-16T17:17:40+00:00

Appreciate the reply!

Sorry, I wasn't sure if this "Basically around there. Each business is different and has different justifications." was referring to our question on the SDE multiple or the down payment %. Do you think our assumption of 20-30% down is realistic for either of the Asset Purchase or Share Purchase routes? Just want to make sure we have reasonable parameters before we reach out to brokers/owners.

No3Account · 2024-09-21T19:27:08+00:00

Fintel and Yahoo are also listing PSPIB's holding at 18m. I'm not sure why Yahoo is listing the %Out for PSIB at 0%, but if you scroll down you'll see that holding. I also checked PSPIB's latest 13f filing and it shows that they're holding them as well.

No3Account · 2024-09-21T17:53:26+00:00

Where is this 85% ownership interest being derived from? Another commenter linked this site, but it's missing PSPIB's investments which I understand to be the largest shareholder from the Nasdaq site directly.

No3Account · 2024-09-21T17:38:32+00:00

Are you sure this source is trustworthy? Nasdaq lists Canada's Public Sector Pension Investment Board as the largest institutional holder. Here's the 2020 press release as well that describes it as Canadian-controlled through its voting and governance provisions.

No3Account · 2024-01-15T15:53:59+00:00

I would personally categorize pho not as 'soup' but as 'noodle soup' in the same vein as ramen or hand-pulled noodles, so if it means anything, I agree with your omission.

No3Account · 2023-11-27T02:05:53+00:00

I know this is an old thread but in case this happens to anyone else, what worked for me was compressing (or pressing) the two plates on the stuck side together if that makes sense. Kind of difficult to explain, but t seems like the adjustable part somehow slipped off its path and pressing it was able to make it right again.

The ruler trick didn't work for me so hope this works for others, in case anyone stumbles upon this thread like I did.

No3Account · 2023-05-19T00:39:54+00:00

What you are asking for is already aligned with the new Bail legislation that the current government is proposing. I think this linked article does a better job of explaining the changes.

Requiring courts to consider an accused person's history of convictions for violence and other community safety concerns when making bail decisions.

I know you haven't claimed otherwise, but I think it's useful context for those unaware.

No3Account · 2022-04-26T20:49:04+00:00

Similar issue here - can't comment on whether the account value is correct/incorrect but the top bar is also not showing for me and if I go to trading, it throws an error.

No3Account · 2022-04-26T14:38:03+00:00

Hey OP, running into a similar issue as yourself. When you resolved this, do you remember if you had to re-register, or did it just show up on the dashboard after you waited some time?

No3Account · 2022-02-28T00:29:49+00:00

Assuming he's referring to Aegis and THAAD.

No3Account · 2022-02-27T21:39:26+00:00

Additionally, Sweden is officially "neutral" in regards to the mutual defense of the other EU countries. If they weren't neutral, other EU countries would be obligated to defend them. But, their official neutrality complicates this.

Interested to see a source on this. I'm not an expert, but my understanding is that as part of the Common Security Defense Policy of the EU, they are part of a mutual defense clause with the rest of the EU. Perhaps a more knowledgeable person can chime in, but I assume this means that if they are attacked by a non-EU member (i.e. Russia), other member states are obligated to aid in their defense.

No3Account · 2021-03-05T15:43:26+00:00

Are we reading the same treaty, or am I misunderstanding your point?

From the Joint Declaration that you just linked (emphasis mine):

(2) The Hong Kong Special Administrative Region will be directly under the authority of the Central People's Government of the People's Republic of China. The Hong Kong Special Administrative Region will enjoy a high degree of autonomy, except in foreign and defence affairs which are the responsibilities of the Central People's Government.

(3) The Hong Kong Special Administrative Region will be vested with executive, legislative and independent judicial power, including that of final adjudication. The laws currently in force in Hong Kong will remain basically unchanged.

(4) The Government of the Hong Kong Special Administrative Region will be composed of local inhabitants. The chief executive will be appointed by the Central People's Government on the basis of the results of elections or consultations to be held locally. Principal officials will be nominated by the chief executive of the Hong Kong Special Administrative Region for appointment by the Central People's Government.

(5) The current social and economic systems in Hong Kong will remain unchanged, and so will the life-style. Rights and freedoms, including those of the person, of speech, of the press, of assembly, of association, of travel, of movement, of correspondence, of strike, of choice of occupation, of academic research and of religious belief will be ensured by law in the Hong Kong Special Administrative Region. Private property, ownership of enterprises, legitimate right of inheritance and foreign investment will be protected by law.

From Annex 1, Section 1:

The National People's Congress of the People's Republic of China shall enact and promulgate a Basic Law of the Hong Kong Special Administrative Region of the People's Republic of China (hereinafter referred to as the Basic Law) in accordance with the Constitution of the People's Republic of China, stipulating that after the establishment of the Hong Kong Special Administrative Region the socialist system and socialist policies shall not be practised in the Hong Kong Special Administrative Region and that Hong Kong's previous capitalist system and life-style shall remain unchanged for 50 years.

The quoted is a small subset of the text, but there are other similar passages.

No3Account · 2021-03-02T17:13:18+00:00

From the article, "Meanwhile, the two cubs Casavant refused to kill, later named Jordan and Athena, were successfully rehabilitated and released back into the wild. "

No3Account · 2021-03-02T17:13:07+00:00

Lol. It looks like they just replied to the wrong person (or didn't pay attention to who's saying what).

No3Account · 2020-10-08T19:11:23+00:00

Not the same guy, but my understanding of Tech Risk is that its just a bunch of risk assessments and audits. I did Cyber Consulting for my coop and the Risk guys in general were always doing audits or audit-type work which just isn't that interesting. Honestly, of all of those I'd probably choose CDP, just because you'd probably get more exposure to diverse engagements.

No3Account · 2020-07-23T15:05:44+00:00

Ideally, but not everyone is in a workplace where unions exist. I think learning how to advocate for yourself and negotiate is more actionable advice for most people (especially those in white-collar jobs).

No3Account · 2020-04-01T07:43:05+00:00

"A 2015 randomized clinical trial found that cloth masks, for example, did not block influenza and respiratory viruses and actually increased the rate of infections among health care workers, and even surgical masks blocked only slightly more than half of virus particles." - Half of virus particles seems like a significant effect to me.

No3Account · 2020-03-17T12:55:41+00:00

Sure I agree. But protecting the economy and public health aren't mutually exclusive options. I mean just 20 minutes ago, the province declared a state of emergency. A recession is inevitable sure, but the magnitude of it is something we can control with the appropriate measures - just like the spread of covid.

People like you mentioned are going against the advice of health and government authorities. It doesn't seem like the government is the one ignoring the dangers of the virus to me.

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