| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| MLP | DB1 | O4B | IPOK | ADC | | ADE | |
| XTRA:MLP | XTRA:DB1 | XTRA:O4B | XTRA:IPOK | DB:ADC | | DB:ADE | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 8.6% | 11.9% | 9.7% | -4.9% | 2.4% | | -7.3% | |
| 3Y CAGR | 4.7% | 10.0% | 8.4% | 10.7% | -0.4% | | -19.8% | |
| Latest Twelve Months | 9.0% | 12.8% | 14.2% | 97.3% | -3.7% | | -24.3% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 9.5% | 43.8% | 5.3% | 65.6% | 0.6% | | 32.0% | |
| Prior Fiscal Year | 9.4% | 51.0% | 4.8% | 68.4% | 1.7% | | -45.2% | |
| Latest Fiscal Year | 11.9% | 49.6% | 5.0% | 90.8% | -0.4% | | 2.2% | |
| Latest Twelve Months | 11.7% | 49.0% | 4.5% | 90.8% | -0.4% | | 25.2% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.73x | 10.16x | 0.45x | 1.75x | 0.12x | | 33.75x | |
| EV / LTM EBIT | 6.3x | 20.8x | 10.0x | 1.9x | -26.0x | | 133.8x | |
| Price / LTM Sales | 0.81x | 8.87x | 0.75x | 4.55x | 0.12x | | 35.24x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.12x | 0.73x | 10.16x | | | | | |
| Historical EV / LTM Revenue | 6.37x | 19.37x | 27.94x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 17.59x | 18.52x | 19.45x | | | | | |
| (x) LTM Revenue | 6 | 6 | 6 | | | | | |
| (=) Implied Enterprise Value | 111 | 117 | 123 | | | | | |
| (-) Non-shareholder Claims * | 10 | 10 | 10 | | | | | |
| (=) Equity Value | 121 | 127 | 133 | | | | | |
| (/) Shares Outstanding | 5.0 | 5.0 | 5.0 | | | | | |
| Implied Value Range | 24.20 | 25.37 | 26.54 | | | | | |
| FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 24.20 | 25.37 | 26.54 | | 44.94 | | | |
| Upside / (Downside) | -46.2% | -43.6% | -40.9% | | | | | |