| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| AET | GENL | KIST | CEG | TLW | | ZPHR | |
| AIM:AET | LSE:GENL | AIM:KIST | AIM:CEG | LSE:TLW | | AIM:ZPHR | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | NM- | -27.7% | NM- | NM- | -1.8% | | NM- | |
| 3Y CAGR | NM- | -39.4% | 38.4% | 36.3% | 6.1% | | NM- | |
| Latest Twelve Months | 585.3% | -4.7% | -3.0% | 1.6% | -6.1% | | -10.3% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 23.9% | -43.4% | 2.4% | -436.8% | 31.6% | | -22.7% | |
| Prior Fiscal Year | 9.0% | -18.5% | -18.2% | -244.7% | 44.0% | | 45.7% | |
| Latest Fiscal Year | 41.2% | -28.9% | -18.8% | -354.2% | 35.8% | | 3.5% | |
| Latest Twelve Months | 41.2% | -28.9% | -18.8% | -352.4% | 35.8% | | -7.8% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.69x | 0.77x | 1.49x | 7.88x | 1.69x | | 5.39x | |
| EV / LTM EBIT | 1.7x | -2.7x | -7.9x | -2.2x | 4.7x | | -69.5x | |
| Price / LTM Sales | 0.72x | 2.64x | 0.79x | 7.86x | 0.18x | | 4.12x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.69x | 1.49x | 7.88x | | | | | |
| Historical EV / LTM Revenue | 3.46x | 4.01x | 36.04x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 5.76x | 6.06x | 6.36x | | | | | |
| (x) LTM Revenue | 23 | 23 | 23 | | | | | |
| (=) Implied Enterprise Value | 135 | 142 | 149 | | | | | |
| (-) Non-shareholder Claims * | (28) | (28) | (28) | | | | | |
| (=) Equity Value | 107 | 114 | 121 | | | | | |
| (/) Shares Outstanding | 1,750.7 | 1,750.7 | 1,750.7 | | | | | |
| Implied Value Range | 0.06 | 0.07 | 0.07 | | | | | |
| FX Rate: USD/GBP | 1.3 | 1.3 | 1.3 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 0.05 | 0.05 | 0.05 | | 0.04 | | | |
| Upside / (Downside) | 10.7% | 18.1% | 25.4% | | | | | |