How cheap is Sprint?

Sprint (S) is down 10% today on forecasts of flat revenue for this year. On top of that, Sprint lost 300,000+ customers in the fourth quarter of last year. Ouch. Further concerns include the fact that the company is too big too turn around fast. But it's worth looking at when it makes the Bloomberg headlines.

Verdict: at 10x leveraged free cash flow with $21 billion in debt, I give it thumbs down.