Back in December, I posted the following chart after J&J Snack Foods (NASDAQ:JJSF) released its Q4 report:
Source: author from JJSF filings; EBITDA not adjusted, may differ slightly from company's reported figures
After the company's fiscal Q2 report this week, JJSF's multiple has expanded further, to 15.2x from 14.6x - more than double the 6.8x multiple assigned at JJSF's peak price in fiscal 2010. To be fair, EBITDA growth has accelerated - though only to about 4% through the first half, using the company's reported Adjusted EBITDA figure from its Q2 conference call.