Okay, let's look at redfin so with redfin, again, uh eleven point, six percent short interest, which is quite high and six billion dollar valuation. So without looking at it, let me do a quick uh, quick examination just just out of like a curiosity, so it's a tech company. So let's do it at 25.. So i'm expecting to see about 240 million in ebitda for this company at this at this valuation.

So, let's take a look: how much eb that they have and ebitda okay. So here's the thing right now: they're ebitda and it's getting better, which is a good sign. It's 46., so 46 ebitda and i'm expecting to see i'll show you so it's based on the 6 billion valuation. What you want to see if you use 25, which is a generous multiplier 240., so right now, um they're they're trading on 240 ebitda and they're at 45., so the amount of future potential that's priced in here is about 6x.

So, in order for the company just to meet the current valuation, it needs to 6x. It's a ebitda and i'll show you here. So if you look at momentum right here, um, it's correcting, like all the tech right, it's correcting 22 back in the past three months. However, it's up 100 still on the year, so it's still pricing in a lot of the future, especially when the company isn't that profitable.

I mean their gross margin, is 27 percent, which is not amazing. I mean it's decent and eb. The margin is four percent and net income margin is point six percent, so at least they're not losing money right at least they're not losing money, but they're not making money either yet, but they're priced as if they're, making 240 million of ebitda per year, which is About six times more than what they make currently as far as the growth, this is where i like this company, a lot more than the previous, the jmia company this one. I actually like a lot because, as you can see right here, they did grow 12 revenue.

This year, but i'm assuming because of the real estate markets getting hot and hotter they're looking at the 40 revenue growth for next year, so 40 growth next year and would really be interesting because it's still going to be far away from the current valuation. But it's a really nice step in the right direction and you'll see that what i'm saying here isn't mumbo jumbo because um well. This is very interesting: okay, so evie to ebitda they're 500 percent overpriced same for um yeah same for ev to ebitda for the future. They're 600 overpriced.

However, this is very interesting: the in ev to sales. They seem to be trading at six, hmm and the same thing for price to sell six so based on price to sales and ev to sales they're undervalued. Let me look at their revenues. This is getting interesting, so this is quite interesting: okay, oh okay! So it's a company, that's generating about a billion about a billion in revenue and it's growing very nicely.

It's not pandemic. Related. 125. 187.

267. 370. yeah. The growth is really nice.

There is about a billion, there is about a billion of revenues, which would actually justify a six billion okay. So the problem with this company that threw me off is that their ebitda is quite low, but the revenues are very high where's this money going then so based on the revenues, it's definitely a six billion dollar company. Where is it going? Yeah general admin total operating and okay, okay, yeah. Here's where you have it cost of revenues, why the cost of goods for this company is so high? Is this inventory that they're buying yeah the margin? The gross margin is what's killing this company? They have to get better at this, but they're generating a billion a year which is really nice, and let me look down here for a second, how much cash they have on hand right now how much cash - let's see oh nice, 1.2 billion, 1.2 billion 47 receivables.

It's just pretty much cash, no goodwill total assets. Oh yeah, you have 9 million in goodwill, which is nothing it's trash, total assets, 1.8 billion total abilities. Let me look at total abilities. 1.4.

So they're positive uh, not as great as jmia. As far as the balance sheet, but they have way more assets, 400 million, more assets than liabilities, which is good and let's see if they have any debt, 23 million, not horrible. However, oh that's the current portion, okay, here's where the other issue. So the first issue about this company is that the gross margin isn't that amazing, the just the cost of goods is very high.

They have a 1.1 billion in debt uh, which means they took on a lot of debt. You see this and 113 four five. So there's a lot of that here and that it can really bring you down as far as uh. It can wreak havoc with your profitability and cash flow um yeah a lot of that.

A lot of that which is and but look at this. This is a really good sign. They went from 2 400 employees in 17 to 4 200 end of last year, which means they're growing. So if you, if i had to give you an answer, jeff and based on what i'm seeing right now, uh, i think redfin with the way the industry is going and the price and the valuation six billion valuation on the company does a billion in revenue per Year and growing nicely expected to have 40 growth and they're in real estate, which is boiling hot.

I think that's the better choice between redfin and the previous company. That's definitely the better choice. I think the price is more attractive, but you have to be mindful that this is not a cheap price. It's a reasonable price for this company, but it bakes in a lot of the future growth.

But if i had to choose one between these two, i think redfin is, is the clear winner here: yeah.