| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| 9TX | YBV0 | TASE | 3HM | FA1 | | DB1 | |
| DB:9TX | DB:YBV0 | TASE:TASE | XTRA:3HM | DB:FA1 | | DB:DB1 | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 12.6% | 10.0% | 11.0% | 12.9% | 8.9% | | 11.9% | |
| 3Y CAGR | 14.2% | 0.9% | 10.6% | 11.8% | 11.4% | | 10.0% | |
| Latest Twelve Months | 23.6% | 8.3% | 15.7% | 11.7% | 4.7% | | 12.8% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 47.3% | 63.3% | 24.2% | 53.5% | 30.7% | | 43.8% | |
| Prior Fiscal Year | 45.6% | 59.0% | 27.7% | 54.8% | 31.4% | | 51.0% | |
| Latest Fiscal Year | 44.4% | 64.7% | 30.4% | 53.7% | 32.0% | | 49.6% | |
| Latest Twelve Months | 44.5% | 66.4% | 31.9% | 53.7% | 31.6% | | 49.0% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 11.33x | 7.51x | 10.49x | 16.28x | 8.40x | | 10.16x | |
| EV / LTM EBIT | 25.5x | 11.3x | 32.8x | 30.3x | 26.6x | | 20.8x | |
| Price / LTM Sales | 10.03x | 7.75x | 10.92x | 14.79x | 7.79x | | 8.87x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 7.51x | 10.49x | 16.28x | | | | | |
| Historical EV / LTM Revenue | 7.14x | 7.47x | 8.29x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 8.20x | 8.63x | 9.07x | | | | | |
| (x) LTM Revenue | 5,955 | 5,955 | 5,955 | | | | | |
| (=) Implied Enterprise Value | 48,843 | 51,414 | 53,984 | | | | | |
| (-) Non-shareholder Claims * | (7,707) | (7,707) | (7,707) | | | | | |
| (=) Equity Value | 41,136 | 43,706 | 46,277 | | | | | |
| (/) Shares Outstanding | 183.8 | 183.8 | 183.8 | | | | | |
| Implied Value Range | 223.83 | 237.82 | 251.81 | | | | | |
| FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 223.83 | 237.82 | 251.81 | | 288.10 | | | |
| Upside / (Downside) | -22.3% | -17.5% | -12.6% | | | | | |