VOLT - Volt Information Sciences: A High-Risk High-Reward Bet On Improving Management
The futility of valuing staffing company Volt Information Sciences (VOLT) on a fundamental basis, even ignoring the effects of the coronavirus pandemic, can be highlighted by a simple chart:
VOLT Fair Value Across EV/Revenue Multiples
Based on trailing twelve-month revenue of $916.6 million, net debt of $32.7 million, 21.4 million shares outstanding, current price of $1.22
When single basis points of revenue materially move fair value estimates, it's impossible to have much faith in the accuracy of those estimates. With Adjusted EBITDA over the past four quarters still negative, and target margins thin