Novisource back of the envelope Benjamin Graham intrinsic value

The company's results are improving and the share price is declining...

The number of shares is 11,7 million.

Earnings per share 0,08 Euros? x "multiple" of 15 = 1,2 Euros

Book value 3,8 million euros + 400k from selling Diesis Consultancy = 4,2 million Euros / 11,7 million shares = 0,36 Euros book value per share.

Price is 1,8 Euros. Too high for the Benjamin Graham Defensive Investor.

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