Emerald Expositions is a cash generating machine which had net sales of $323.7 million last year and net income of $22.3 million, but adjusted EBITDA which strips out amortization of intangibles on its acquired trade shows, debt extinguishment charges, stock based compensation and other factors shows an impressive $158.3 million. Emerald typically pays multiples of EBITDA in the mid- to high-single digits, presumably most of ... Log in to view full article.