Price: $8.45 Market Cap: $8.25M Enterprise Value: -$0.3M Investment Thesis Saker Aviation is well-positioned to win the next operating contract for DMH, which, assuming it can continue self-managing the heliport, will allow it to generate at least $1.1M of FCF, at a 13% earnings yield, for the five years thereafter. With a negative EV and +$6M in excess cash, shareholder distributions will likely come much sooner and be much larger than what is currently priced in, resulting in a 26-37% 3-year IRR for investors.
Saker Aviation Services (SKAS)
Saker Aviation Services (SKAS)
Saker Aviation Services (SKAS)
Price: $8.45 Market Cap: $8.25M Enterprise Value: -$0.3M Investment Thesis Saker Aviation is well-positioned to win the next operating contract for DMH, which, assuming it can continue self-managing the heliport, will allow it to generate at least $1.1M of FCF, at a 13% earnings yield, for the five years thereafter. With a negative EV and +$6M in excess cash, shareholder distributions will likely come much sooner and be much larger than what is currently priced in, resulting in a 26-37% 3-year IRR for investors.