GMBL - Esports Entertainment Group Inc Stock Price, Fair Value and News

0.78USD+0.14 (+21.88%)Market Closed

Market Summary

USD0.78+0.14

Market Closed

21.88%

GMBL Stock Price

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GMBL RSI Chart

GMBL Valuation

Market Cap

97.0M

Price/Earnings (Trailing)

-2.71

Price/Sales (Trailing)

7.94

EV/EBITDA

-3.25

Price/Free Cashflow

-8.6

GMBL Price/Sales (Trailing)

GMBL Profitability

Operating Margin

67.64%

EBT Margin

-293.14%

Return on Equity

213.97%

Return on Assets

-471.18%

Free Cashflow Yield

-11.63%

GMBL Fundamentals

GMBL Revenue

Revenue (TTM)

12.2M

Rev. Growth (Yr)

-59.72%

Rev. Growth (Qtr)

-4.01%

GMBL Earnings

Earnings (TTM)

-35.8M

Earnings Growth (Yr)

-20.63%

Earnings Growth (Qtr)

-255.3%

Breaking Down GMBL Revenue

Last 7 days

Last 30 days

-6.0%

Last 90 days

-66.9%

Trailing 12 Months

-61.8%

How does GMBL drawdown profile look like?

GMBL Financial Health

Current Ratio

0.38

GMBL Investor Care

Shares Dilution (1Y)

17435.69%

Historical Charts for Stock Metrics

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Net sales

Year	Q1	Q2	Q3	Q4
2023	31.9M	23.0M	16.1M	12.2M
2022	55.4M	58.4M	51.5M	43.4M
2021	8.0M	16.8M	33.0M	45.1M
2020	0	0	407.1K	2.7M
2018	151.0K	209.9K	187.6K	224.5K
2017	50.7K	91.7K	120.4K	123.1K
2016	38.7K	38.9K	49.3K	43.1K
2015	41.8K	54.2K	58.5K	50.6K
2014	0	4.7K	17.1K	29.4K

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Tracking the Latest Insider Buys and Sells of Esports Entertainment Group Inc

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
May 26, 2022	johnson grant	bought	18,835	0.3767	50,000	chief executive officer
Apr 04, 2022	mathews damian	acquired	-	-	200,000	chief financial officer
Mar 31, 2022	johnson grant	sold	-	-	-3,353,330	chief executive officer
Mar 31, 2022	johnson grant	acquired	-	-	3,353,330	chief executive officer
Feb 18, 2021	bartlett warwick winston	acquired	-	-	4,000	-
Feb 18, 2021	mathews damian	acquired	-	-	1,333	director
Jan 15, 2021	brackens john clyde	acquired	-	-	2,367	chief information officer
Oct 08, 2020	tilly stuart james	acquired	-	-	5,000	chief legal officer
Oct 08, 2020	brackens john clyde	acquired	-	-	7,500	chief information officer
Oct 04, 2020	bartlett warwick winston	acquired	-	-	500	-

Which funds bought or sold GMBL recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
Mar 11, 2024	VANGUARD GROUP INC	sold off	-100	-2,336	-	-%
Mar 04, 2024	TUCKER ASSET MANAGEMENT LLC	unchanged	-	-418	542	-%
Feb 26, 2024	Virtu Financial LLC	sold off	-100	-26,000	-	-%
Feb 16, 2024	HARBOUR INVESTMENTS, INC.	new	-	4.00	4.00	-%
Feb 16, 2024	HARBOUR INVESTMENTS, INC.	sold off	-100	-1.00	-	-%
Feb 15, 2024	JANE STREET GROUP, LLC	sold off	-100	-9,245	-	-%
Feb 14, 2024	SABBY MANAGEMENT, LLC	reduced	-0.85	-14,085,000	22,951,000	0.02%
Feb 14, 2024	Hudson Bay Capital Management LP	unchanged	-	-	-	-%
Feb 14, 2024	MILLENNIUM MANAGEMENT LLC	sold off	-100	-7,047	-	-%
Feb 14, 2024	Royal Bank of Canada	sold off	-100	-	-	-%

Are Funds Buying or Selling GMBL?

Are funds buying GMBL calls or puts?

Calls

Puts

No. of funds holding Calls - Puts

Net Call Options

No. of funds that own GMBL

No. of Funds

Unveiling Esports Entertainment Group Inc's Major ShareHolders

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2024	ayrton capital llc	9.9%	118,121	SC 13G/A
Feb 14, 2023	threed capital inc.	0%	0	SC 13G/A
Feb 14, 2023	ayrton capital llc	4.99%	3,953,132	SC 13G/A
Dec 22, 2022	ayrton capital llc	9.06%	7,065,000	SC 13G
Apr 04, 2022	brownstone energy inc.	0.56%	143,784	SC 13G
Jan 11, 2022	bluerock real estate holdings, llc	8.02%	1,034,068	SC 13G/A
Jan 05, 2021	bluerock real estate holdings, llc	8.02%	1,034,068	SC 13G
Dec 28, 2020	ahg entertainment associates, llc	0%	0	SC 13G
Aug 24, 2020	ahg entertainment associates, llc	877%	956,000	SC 13G
Jan 27, 2020	vg spv llc	785%	8,961,947	SC 13G/A

Recent SEC filings of Esports Entertainment Group Inc

View All Filings

Date Filed	Form Type	Document
Mar 28, 2024	8-K	Current Report
Mar 27, 2024	10-Q	Quarterly Report
Mar 13, 2024	8-K	Current Report
Feb 27, 2024	25	25
Feb 20, 2024	8-K	Current Report
Feb 15, 2024	NT 10-Q	NT 10-Q
Feb 14, 2024	SC 13G/A	Major Ownership Report
Feb 13, 2024	8-K	Current Report
Feb 07, 2024	8-K	Current Report

Peers (Alternatives to Esports Entertainment Group Inc)

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
BKNG	120.3B	21.4B	-4.15%	33.39%	28.05	5.63	25.01%	40.26%
ABNB	104.6B	9.9B	-1.31%	42.50%	21.83	10.55	18.07%	153.14%
DKNG	37.4B	3.7B	-4.87%	-	-46.61	10.2	63.60%	41.79%
RCL	36.1B	14.7B	0.60%	127.96%	17.16	2.45	38.22%	303.03%
CCL	16.9B	22.6B	-12.27%	69.44%	41.79	0.75	77.46%	108.27%
MGM	13.1B	16.2B	-11.85%	-5.32%	11.5	0.81	23.13%	-22.46%
MID-CAP
HAS	8.9B	5.0B	14.11%	10.68%	-6.01	1.79	-14.57%	-831.84%
NCLH	8.1B	8.5B	-10.82%	48.32%	48.74	0.95	76.51%	107.32%
MAT	6.3B	5.4B	-7.19%	1.89%	29.43	1.16	0.12%	-45.58%
PENN	2.6B	6.4B	-7.81%	-43.22%	-5.25	0.4	-0.61%	-320.62%
SMALL-CAP
PTON	1.1B	2.7B	-28.73%	-64.04%	-1.3	0.42	-10.55%	68.37%
ACEL	937.8M	1.2B	-4.93%	31.34%	20.56	0.8	20.69%	-38.46%
AGS	349.1M	356.5M	0.45%	77.64%	815.61	0.98	15.22%	105.33%
CLAR	239.7M	286.0M	-9.26%	-34.14%	-23.63	0.84	-9.27%	85.46%
CNTY	91.1M	550.2M	-9.91%	-57.26%	-3.23	0.17	27.80%	-453.54%

Esports Entertainment Group Inc News

Latest updates

Esports Entertainment Group Inc Earnings Report: Key Takeaways & Analysis

Income Statement (Last 12 Months)

Income Statement (Quarterly)
Description	(%) Q/Q	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2018Q4	2018Q3	2018Q2	2018Q1	2017Q4	2017Q3	2017Q2
Revenue	-4.0%	2,582,027	2,689,817	2,775,141	4,175,994	6,409,405	9,605,264	11,712,725	15,699,587	14,531,047	16,408,291	8,800,621	5,398,708	2,362,193	222,392	48,362	25,995	110,348	39,768	11,521	48,224	51,480
Cost Of Revenue	14.4%	688,532	602,026	1,372,440	1,292,743	2,371,655	3,750,416	4,915,784	6,282,445	6,515,140	6,451,292	3,698,686	2,321,620	1,333,678	420,075	-	-	-	-	-	-	-
Costs and Expenses	148.1%	19,112,573	7,702,958	5,902,541	13,789,249	27,909,614	15,666,785	29,817,001	66,325,784	26,557,872	25,012,891	19,286,663	11,012,208	8,131,481	4,080,001	-	-	-	-	-	-	-
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,659,926	514,781	872,780	-58,934	798,120	691,877	574,652	269,423
S&GA Expenses	-27.8%	658,846	913,096	729,113	928,692	1,843,557	2,445,335	7,917,862	7,074,414	6,871,546	342,333	5,146,835	2,399,200	1,888,372	604,118	514,781	872,780	344,875	798,120	-	-	-
EBITDA Margin	-Infinity%	-2.42	-	-1.02	-0.75	-1.67	-1.86	-1.53	-1.81	-1.14	-0.66	-1.55	-2.28	-4.92	-19.41	-	-	-	-	-	-	-
Interest Expenses	-	-	-	-4,938	460,914	971,374	1,058,408	1,054,106	611,021	2,412,716	2,345,196	-	-	-	1.00	797,509	143	121	-	-	-	-
Income Taxes	-	-	-	-	376	-	-	-171,012	431	-5,503,861	-	-	-	-	-	-	-	-	-	-	-	-
Earnings Before Taxes	-255.3%	-17,048,073	-4,798,152	-790,231	-13,193,599	-14,132,682	-4,168,591	-3,946,597	-63,569,064	-39,838,490	-552,381	-8,642,660	-12,443,080	-7,290,037	-1,808,493	-2,123,964	-872,923	-	-820,570	-	-	-
EBT Margin	-42.9%	-2.93	-2.05	-1.41	-1.11	-1.98	-2.16	-1.85	-2.03	-1.36	-0.88	-1.80	-2.45	-5.09	-22.89	-	-	-	-	-	-	-
Net Income	-255.3%	-17,048,073	-4,798,152	-790,231	-13,193,975	-14,132,682	-4,168,591	-3,775,585	-63,569,495	-34,334,629	-552,381	-4,831,124	-12,443,080	-7,290,037	-1,808,493	-2,123,963	-872,923	58,813	-820,570	-	-	-
Net Income Margin	-42.9%	-2.93	-2.05	-1.41	-1.11	-1.97	-2.05	-1.75	-1.86	-1.16	-0.76	-1.57	-2.45	-5.09	-22.89	-	-	-	-	-	-	-
Free Cashflow	10.6%	-1,925,506	-2,152,984	-4,220,431	-2,985,072	-3,997,183	-4,645,913	-6,956,713	-6,505,014	-4,234,780	-3,447,659	-7,814,355	-4,371,961	-3,492,712	-	-	-	-	-	-	-	-

Balance Sheet

(In Millions)

(*) denotes actual numbers (not divided by Millions)
Balance Sheet																					(In Millions)
Description	(%) Q/Q	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1	2018Q4
Assets	-59.7%	8.00	19.00	22.00	24.00	43.00	60.00	65.00	86.00	124	129	120	73.00	26.00	25.00	13.00	7.00	0.00	0.00	1.00	1.00	1.00
Current Assets	108.5%	5.00	2.00	4.00	5.00	8.00	10.00	10.00	17.00	12.00	13.00	30.00	26.00	11.00	10.00	13.00	0.00	0.00	0.00	0.00	1.00	1.00
Cash Equivalents	263.7%	1.00	0.00	2.00	2.00	1.00	3.00	3.00	9.00	1.00	3.00	20.00	17.00	6.00	9.00	12.00	0.00	0.00	0.00	12.00	0.00	1.00
Net PPE	-100.0%	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.00	1.00	1.00	0.00	0.00	0.00	0.00	-	-	-	0.00	-	-
Goodwill	-100.0%	-	4.00	4.00	4.00	7.00	21.00	22.00	28.00	52.00	52.00	41.00	17.00	7.00	7.00	-	-	-	-	-	-	-
Liabilities	21.3%	13.00	10.00	9.00	30.00	49.00	68.00	69.00	83.00	67.00	55.00	45.00	12.00	12.00	9.00	2.00	14.00	10.00	8.00	6.00	6.00	4.00
Current Liabilities	22.4%	12.00	10.00	9.00	29.00	55.00	55.00	66.00	76.00	61.00	26.00	12.00	9.00	11.00	8.00	2.00	-	-	-	-	-	-
LT Debt, Current	-	-	-	-	16.00	32.00	32.00	35.00	16.00	37.00	0.00	0.00	-	-	-	-	-	-	-	-	-	-
Shareholder's Equity	-4206.3%	-16.75	0.00	5.00	-	-25.80	-16.08	-11.60	-	50.00	74.00	75.00	61.00	14.00	17.00	11.00	-	-	-	-	-	-
Retained Earnings	-9.2%	-203	-186	-181	-180	-167	-153	-149	-145	-81.80	-47.46	-46.91	-42.08	-29.63	-22.34	-20.54	-22.40	-16.09	-13.02	-10.18	-10.19	-6.80
Additional Paid-In Capital	3.3%	188	182	173	172	149	147	145	145	135	123	122	104	44.00	39.00	32.00	8.00	7.00	5.00	5.00	5.00	5.00
Shares Outstanding	-100.0%	-	59.00	-	3.00	1.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	-	-	-	-	-	-	-
Float	-	-	-	-	-	6.00	-	-	-	71.00	-	-	-	64.00	-	-	-	30.00	-	-	-	-

Cashflow (Last 12 Months)

(In Thousands)

(*) denotes actual numbers (not divided by Thousands)
Cashflow (Quarterly)																					(In Thousands)
Description	(%) Q/Q	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3	2021Q2	2021Q1	2020Q4	2020Q3	2020Q2	2020Q1	2019Q4	2019Q3	2019Q2	2019Q1	2018Q4
Cashflow From Operations	10.6%	-1,925	-2,152	-4,220	-2,985	-3,946	-4,594	-6,905	-6,501	-4,207	-3,391	-7,780	-4,356	-3,482	-3,263	-1,165	-133	-526	-443	-545	-536	-628
Share Based Compensation	-200.0%	-21.08	21.00	21.00	205	-	922	1,207	1,347	1,729	882	1,075	744	1,304	1,008	1,166	118	317	13.00	371	110	42.00
Cashflow From Investing	95.6%	-2.66	-60.13	-	2,940	-	-	109	-3.44	-5,142	-15,042	-23,170	-30,783	-1,058	-1,120	-	-	-	-	132	-125	-217*
Cashflow From Financing	499.6%	4,793	799	3,078	-190	1,954	3,839	-193	15,656	8,925	-899	33,579	48,519	3,233	1,025	14,010	90.00	540	440	29.00	76.00	1,623
Dividend Payments	-33.3%	134	201	201	201	201	201	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-

GMBL Income Statement

2023-12-31

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Net revenue	$ 2,582,027	$ 6,409,405	$ 5,271,844	$ 16,014,669
Operating costs and expenses:
Cost of revenue	688,532	2,371,655	1,290,558	6,122,071
Sales and marketing	658,846	1,843,557	1,571,942	4,288,892
General and administrative	4,784,053	7,559,402	10,971,889	17,030,436
Asset impairment charges	12,981,142	16,135,000	12,981,142	16,135,000
Total operating expenses	19,112,573	27,909,614	26,815,531	43,576,399
Operating loss	(16,530,546)	(21,500,209)	(21,543,687)	(27,561,730)
Other income (expense):
Interest expense		(971,374)		(2,029,782)
Change in fair value of derivative liability	(536,698)	8,324,802	(536,698)	8,599,666
Change in fair value of warrant liability	74,111	2,571,732	279,476	5,022,288
Loss on contingent consideration		(3,044,019)		(2,864,551)
Other non-operating income (loss)	(54,940)	486,386	(45,316)	532,836
Total other income (expense), net	(517,527)	7,367,527	(302,538)	9,260,457
Loss before income taxes	(17,048,073)	(14,132,682)	(21,846,225)	(18,301,273)
Income tax benefit (expense)
Net loss	(17,048,073)	(14,132,682)	(21,846,225)	(18,301,273)
Dividend on 10% Series A cumulative redeemable convertible preferred stock	(133,752)	(200,628)	(334,380)	(401,256)
Undeclared dividend on 10% Series A cumulative redeemable convertible preferred stock	(66,876)		(66,876)
Accretion of 10% Series A cumulative redeemable convertible preferred stock to redemption value	(78,184)	(75,258)	(155,626)	(149,802)
Accretion of the discount on Series C convertible preferred stock	(1,820,000)		(1,820,000)
Dividend on Series C convertible preferred stock	(125,459)		(380,982)
Dividend on Series D convertible preferred stock	(87,282)		(174,607)
Deemed dividend on accretion of Series D Convertible Preferred Stock to redemption value	(24,741)		(24,741)
Deemed dividend on make whole provision on Series C Convertible Preferred Stock	(1,046,341)		(4,805,990)
Deemed dividend from down round provision on Series C Convertible Preferred Stock and Series D Convertible Preferred Stock	(10,979,863)		(20,362,772)
Net loss attributable to common stockholders	$ (31,410,571)	$ (14,408,568)	$ (49,972,199)	$ (18,852,331)
Net loss per common share - basic	$ (64.55)	$ (7,873.53)	$ (180.08)	$ (12,824.71)
Net loss per common share - diluted	$ (64.55)	$ (7,873.53)	$ (180.08)	$ (12,824.71)
Weighted average number of common shares outstanding - basic	486,579	1,830	277,506	1,470
Weighted average number of common shares outstanding - diluted	486,579	1,830	277,506	1,470

GMBL Balance Sheet

2023-12-31

Condensed Consolidated Balance Sheets - USD ($)	Dec. 31, 2023	Jun. 30, 2023
Current assets
Cash	$ 1,101,731	$ 1,745,298
Restricted cash	2,350,231	168,304
Accounts receivable, net	72,919	93,871
Receivables reserved for users	445,988	831,942
Other receivables	293,874	497,603
Prepaid expenses and other current assets	402,390	706,030
Total current assets	4,667,133	4,043,048
Equipment, net		20,013
Operating lease right-of-use asset	43,305	85,517
Intangible assets, net	2,893,971	13,324,627
Goodwill		4,491,223
Other non-current assets		136,863
TOTAL ASSETS	7,604,409	22,101,291
Current liabilities
Accounts payable and accrued expenses	8,488,120	7,106,194
Liabilities to customers	270,931	664,313
Deferred revenue	1,267,682	989,027
Derivative liability	2,356,698
Operating lease liability – current	49,500	95,903
Total current liabilities	12,432,931	8,855,437
Warrant liability	86,250	365,726
Deferred income taxes
Total liabilities	12,519,181	9,221,163
Commitments and contingencies (Note 10)
Mezzanine equity:
Total Mezzanine equity	11,831,036	8,083,869
Stockholders’ equity (deficit)
Preferred Stock value
Common stock $0.001 par value; 1,250,000 shares authorized, 1,145,980 and 9,461 shares issued and outstanding as of December 31, 2023 and June 30, 2023, respectively	1,146	9
Additional paid-in capital	188,472,019	173,465,492
Accumulated deficit	(203,272,130)	(181,425,905)
Accumulated other comprehensive loss	(4,442,460)	(4,667,164)
Total stockholders’ equity (deficit)	(16,745,808)	4,796,259
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS’ EQUITY (DEFICIT)	7,604,409	22,101,291
Series A Cumulative Redeemable Convertible Preferred Stock [Member]
Mezzanine equity:
Redeemable Convertible Preferred Stock	8,306,371	8,083,869
Series B Redeemable Preferred Stock [Member]
Mezzanine equity:
Redeemable Convertible Preferred Stock
Series C Convertible Preferred Stock [Member]
Mezzanine equity:
Redeemable Convertible Preferred Stock	3,524,665
Stockholders’ equity (deficit)
Preferred Stock value		14,805,438
Series D Convertible Preferred Stock [Member]
Stockholders’ equity (deficit)
Preferred Stock value	$ 2,495,617	$ 2,618,389

About Esports Entertainment Group Inc

Esports Entertainment Group, Inc. operates as an iGaming and entertainment company in the United States and internationally. The company operates Vie.bet, an esports focused platform; Sportnation.bet, an online sportsbook and casino; iDefix, a casino-platform; Bethard, an online sportsbook and casino; Vie.gg, an online esports wagering website; and ggCircuit, a local area network center management software and services for managing mission critical functions, such as game licensing and payments. It also organizes online tournaments and player-vs-player wagering. The company was formerly known as VGambling, Inc. and changed its name to Esports Entertainment Group, Inc. in May 2017. Esports Entertainment Group, Inc. was incorporated in 2008 and is based in St. Julian's, Malta.

CEO	Leon Martynenko
WEBSITE	esportsentertainmentgroup.com
INDUSTRY	Leisure

Esports Entertainment Group Inc Frequently Asked Questions

What is the ticker symbol for Esports Entertainment Group Inc? What does GMBL stand for in stocks?

GMBL is the stock ticker symbol of Esports Entertainment Group Inc. Every public company that trades on a stock exchange gets a ticker symbol.

What is the market capital of Esports Entertainment Group Inc (GMBL)?

As of Fri Apr 26 2024, market cap of Esports Entertainment Group Inc is 97.01 Million. The market capitalization is calculated by multiplying the stock price with the number of shares outstanding.

What is the fair value of GMBL stock?

You can check GMBL's fair value in chart for subscribers.

What is the fair value of GMBL stock?

You can check GMBL's fair value in chart for subscribers. The fair value of Esports Entertainment Group Inc is provided for various growth and macro-economic scenarios from very pessimiatic to very optimistic assumptions. These fair values are estimates from Grufity's Fair Value model based on company's past performance. However, past performance of Esports Entertainment Group Inc is no guarantee of future performance. These fairvalue estimates should only be used as one of the inputs in your stock analysis. We provide model's historical fair value estimates for GMBL so that you know how good or bad the model has been in the past so you can discard it if needed. There are others that provide fair values of stocks such as wallmine, finbox, gurufocus and finviz. Most provide point in time estimates. We provide a history of our models fair value estimates so that you can get a sense of it's usefulness. Otherwise this data point is of little use.

Is Esports Entertainment Group Inc a good stock to buy?

The fair value guage provides a quick view whether GMBL is over valued or under valued. Whether Esports Entertainment Group Inc is cheap or expensive depends on the assumptions which impact Esports Entertainment Group Inc's fair value. We provide several scenarios of inflation and growth to encompass these range of assumptions for GMBL.

What is Esports Entertainment Group Inc's Price to Earnings (PE) and Price to sales (PS) ratio?

As of Fri Apr 26 2024, GMBL's PE ratio (Price to Earnings) is -2.71 and Price to Sales (PS) ratio is 7.94. The price to earnings and price to sales ratio are two most important valuation metrics for any company. PE ratio tell us the number of years of earnings investors are ready to pay for owning the company. Historically, S&P500 price to earnings ratio has fallen below 12 during periods of gloom and gone past 30 during periods of euphoria. GMBL PE ratio will change depending on the future growth rate expectations of investors.