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A significant reduction in returns could materially alter the multiples at which businesses are now valued.
Moreover, the price-earnings multiples at which other public companies in the technology sector are trading are nowhere near as frothy as they were before the last bubble burst in 2000.
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With an enterprise value of $10 billion, Mead is worth 12 times estimated Ebitda, 40percentt less than the multiple at which Numico was sold.
Comcast, at 16 times estimated earnings, is a slight discount to Time Warner Cable, according to Thomson Reuters data — and a long way from the 22 multiple at which Cablevision trades.
As a result, Viacom's own cash flow per share would fall, increasing the multiple at which the stock trades -- and perhaps making Viacom shares look too expensive to many investors.
Focusing on profits, not revenues, would stabilize profits and margins, build investor confidence in forward estimates and raise the multiple at which Dell shares trade, he said.
"The Company's stake in Media.net was marked down by 39% due to deteriorating operating performance and limited diversification of revenues which depressed the multiple at which its earnings are valued".
If a negative sentiment sinks in, big-cap tech shares could become affected as investors begin to ask themselves whether any company is worth 60-100 timearningsngs, the multiple at which market darlings like Microsoft and Dell are currently trading.
Yet the fundamental tasks of linking multiple levels at which regulatory decisions are required to multiple scales of impacts have only recently been identified.
The multiple threshold model yielded more ML clusters (22 GMYC species), and the multiple times at which the speciation-coalescent transition occurred was 3.71, 2.56, 1.48, and 0.68 mya.
On this evidence Antonio Conte will have multiple subjects at which to direct his anger this weekend.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com