largest nz private education provider, page-13

How close would EBITDA be to operating cash flow in this scenario? CY14 EBITDA $27.5M CY15 EBITDA $32.5M Obviously the CY13 numbers are POST acquitions. Does my head in without the NPAt numbers but if those EBITDA numbers are close to Op CF and having operating expenses at $53.9 for CY15 we could have some serious cash flow on a current market cap of $140M PC (CY15) 4x perhaps?

Not to mention the growth numbers coming up in reports between now and then. Largest volume today in a year and near yearly highs...