u/Fast-Phase3157

Friend sent me information about Terra cycle, and after looking through the numbers I’m perplexed. How can the company be valued at $465 million when revenue is $43 million. They have low profit margins, and are turning all of the profit into dividends. What math supports the multiple/valuation for what seems to be an unattractive business model (high capital intensity, low margins, questionable competitive advantage sustainability)