Knowing it's highly likely the 15m above will fall due it should be added to EV.
161 x 0.495 = 79.7 + 2.7 + 15.5 = 97.9. CEO sez 40m rev/qytr going fwd (160m) but lets say 158m for fy19 at 13% rather than the 14% forecast.
158 x 13% = 20.54 ebitda.
EV ratio is 97.9/20.54 = 4.76x. i.e. still very respectable. But RXP need to match what they forecast... something they have a poor record of doing.
Knowing it's highly likely the 15m above will fall due it should...
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