USG
USCF GOLD STRATEGY PLUS INCOME FUND
stock NYSE ETF

\~3.2x on SDE doesn’t seem to be horrendous, but could be more toward 2.75x.
First things I’d look out for is actual performance YoY of a sample of top performing to worst performing machines, just to make sure.
Check actual revenues and costs from quickbooks if the information is there. What are commissions and fees made up of? What are the debts? Are USG rebates guaranteed and how are they calculated?
I’m not sure if I would include things like USG rebates or credit card rewards in the SDE for valuation purposes, but it is subjective.
On upsides, you said you’re in the food industry, have a think whether you can benefit from some of your network in one way, shape or form.
Apologies if I’ve already mentioned the obvious! It does look like a nice business. Decent margins (SDE/Rev(excl. USG etc) and CAGR for rev and SDE look nice.
You need to think about whether you want to put the extra time in around your current role and business or whether it’s also worth hiring more people to do it for you as a side gig / contracting.
Hope it goes well!

\~3.2x on SDE doesn’t seem to be horrendous, but could be more toward 2.75x.
First things I’d look out for is actual performance YoY of a sample of top performing to worst performing machines, just to make sure.
Check actual revenues and costs from quickbooks if the information is there. What are commissions and fees made up of? What are the debts? Are USG rebates guaranteed and how are they calculated?
I’m not sure if I would include things like USG rebates or credit card rewards in the SDE for valuation purposes, but it is subjective.
On upsides, you said you’re in the food industry, have a think whether you can benefit from some of your network in one way, shape or form.
Apologies if I’ve already mentioned the obvious! It does look like a nice business. Decent margins (SDE/Rev(excl. USG etc) and CAGR for rev and SDE look nice.
You need to think about whether you want to put the extra time in around your current role and business or whether it’s also worth hiring more people to do it for you as a side gig / contracting.
Hope it goes well!