I’m not sure the ebitda numbers make sense. You have the app/u combo doing 3 billion in ‘24. Let’s back out the synergies of 500 so that’s 2.5. For simplicity, let’s say half from u and half from app. So 1.2 each. Yet U/IS ebitda pre synergies for same year is 700. Implying iS detracts $500 million ebitda from the combo. Looks like there are a lot of apples and oranges.
I’m not sure the ebitda numbers make sense. You have the app/u combo doing 3 billion in ‘24. Let’s back out the synergies of 500 so that’s 2.5. For simplicity, let’s say half from u and half from app. So 1.2 each. Yet U/IS ebitda pre synergies for same year is 700. Implying iS detracts $500 million ebitda from the combo. Looks like there are a lot of apples and oranges.
I’m not sure the ebitda numbers make sense. You have the app/u combo doing 3 billion in ‘24. Let’s back out the synergies of 500 so that’s 2.5. For simplicity, let’s say half from u and half from app. So 1.2 each. Yet U/IS ebitda pre synergies for same year is 700. Implying iS detracts $500 million ebitda from the combo. Looks like there are a lot of apples and oranges.
You could be right on apples to oranges, but I think APP is forecasting big growth. U proxy has their 2024 EBITDA at $$235m and IS at $375
Yes I foot your numbers to the proxy. I’m simply saying that either the 3 billion is not credible or the 1 billion is too low.