| Select LTM Revenue Multiple | | | | | | | | |
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| Benchmark Companies | | | |
| DOW | KOP | WLK | CBT | HUN | | DG3 | |
| NYSE:DOW | NYSE:KOP | NYSE:WLK | NYSE:CBT | NYSE:HUN | | DB:DG3 | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 0.0% | 5.0% | 8.4% | 3.7% | -2.3% | | 10.3% | |
| 3Y CAGR | -7.9% | 7.6% | 1.0% | 5.4% | -7.7% | | 6.4% | |
| Latest Twelve Months | -2.1% | -4.1% | -1.3% | -0.1% | 0.0% | | -6.0% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 8.7% | 8.5% | 13.5% | 12.5% | 5.6% | | 14.8% | |
| Prior Fiscal Year | 5.9% | 9.0% | 9.8% | 13.3% | 1.7% | | 10.5% | |
| Latest Fiscal Year | 5.2% | 8.6% | 8.0% | 15.7% | 1.4% | | 10.6% | |
| Latest Twelve Months | 4.0% | 9.4% | 5.9% | 16.7% | 1.6% | | 10.4% | |
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| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.76x | 0.80x | 0.96x | 1.34x | 0.65x | | 1.70x | |
| EV / LTM EBIT | 19.1x | 8.6x | 16.2x | 8.0x | 40.7x | | 16.3x | |
| Price / LTM Sales | 0.47x | 0.30x | 0.76x | 1.02x | 0.33x | | 0.57x | |
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| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.65x | 0.80x | 1.34x | | | | | |
| Historical EV / LTM Revenue | 1.39x | 2.61x | 3.34x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 1.71x | 1.80x | 1.89x | | | | | |
| (x) LTM Revenue | 10,058 | 10,058 | 10,058 | | | | | |
| (=) Implied Enterprise Value | 17,188 | 18,092 | 18,997 | | | | | |
| (-) Non-shareholder Claims * | (11,404) | (11,404) | (11,404) | | | | | |
| (=) Equity Value | 5,784 | 6,688 | 7,593 | | | | | |
| (/) Shares Outstanding | 109.4 | 109.4 | 109.4 | | | | | |
| Implied Value Range | 52.86 | 61.13 | 69.40 | | | | | |
| FX Rate: USD/EUR | 1.1 | 1.1 | 1.1 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 46.60 | 53.89 | 61.18 | | 46.76 | | | |
| Upside / (Downside) | -0.3% | 15.3% | 30.8% | | | | | |