| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| SYS1 | STVG | BMY | YOU | INF | | PEBB | |
| AIM:SYS1 | LSE:STVG | LSE:BMY | AIM:YOU | LSE:INF | | AIM:PEBB | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 2.2% | 8.7% | 16.1% | 19.7% | 4.2% | | 3.2% | |
| 3Y CAGR | 9.5% | 9.2% | 22.8% | 25.7% | 30.9% | | 2.9% | |
| Latest Twelve Months | 33.7% | 11.6% | 38.8% | 42.2% | 11.4% | | 0.9% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 7.2% | 12.9% | 10.6% | 14.9% | 10.6% | | 7.9% | |
| Prior Fiscal Year | 3.6% | 5.7% | 10.0% | 18.7% | 20.0% | | 6.3% | |
| Latest Fiscal Year | 10.3% | 7.6% | 12.5% | 11.8% | 20.2% | | 6.9% | |
| Latest Twelve Months | 13.4% | 7.6% | 13.3% | 11.7% | 20.2% | | 6.9% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 1.77x | 0.60x | 1.12x | 1.22x | 3.30x | | 0.39x | |
| EV / LTM EBIT | 13.3x | 7.9x | 8.4x | 10.5x | 16.3x | | 5.7x | |
| Price / LTM Sales | 2.01x | 0.38x | 1.12x | 0.76x | 2.28x | | 0.47x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.60x | 1.22x | 3.30x | | | | | |
| Historical EV / LTM Revenue | 0.39x | 1.22x | 2.54x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.66x | 0.70x | 0.73x | | | | | |
| (x) LTM Revenue | 125 | 125 | 125 | | | | | |
| (=) Implied Enterprise Value | 83 | 87 | 92 | | | | | |
| (-) Non-shareholder Claims * | 10 | 10 | 10 | | | | | |
| (=) Equity Value | 93 | 97 | 101 | | | | | |
| (/) Shares Outstanding | 161.5 | 161.5 | 161.5 | | | | | |
| Implied Value Range | 0.57 | 0.60 | 0.63 | | | | | |
| FX Rate: GBP/GBP | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 0.57 | 0.60 | 0.63 | | 0.37 | | | |
| Upside / (Downside) | 57.3% | 64.7% | 72.1% | | | | | |