Vice is privately held, so its financials are a matter of some speculation. The company is “expected to post revenue of $500 million this year,” according to one insider. How much of that is profit? We don’t know. But even if it was all profit, which it is not, a $28 billion valuation would give a public Vice Media a P/E ratio of 56. For a media company! (Most media companies would like investors to value them like tech companies. This does not mean they are not, in fact, media companies.) By comparison, Disney’s ratio is about 22; Time Warner’s is about 17; and the New York Times Co.’s is about 40 (which is also rather high).