| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| 0NBD | 0HAT | 0FHS | 0AI3 | DGE | | GCC | |
| LSE:0NBD | LSE:0HAT | LSE:0FHS | LSE:0AI3 | LSE:DGE | | DB:GCC | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 4.5% | 4.8% | 10.0% | 2.6% | 4.4% | | -0.6% | |
| 3Y CAGR | 10.8% | 9.5% | 12.4% | 7.7% | 4.8% | | 5.0% | |
| Latest Twelve Months | -1.8% | -3.7% | 4.4% | 1.9% | -0.9% | | 0.8% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 13.2% | 27.3% | 11.6% | 15.2% | 30.0% | | 1.7% | |
| Prior Fiscal Year | 12.7% | 27.5% | 8.8% | 14.1% | 31.0% | | 2.8% | |
| Latest Fiscal Year | 13.1% | 26.7% | 12.4% | 14.2% | 29.6% | | 4.6% | |
| Latest Twelve Months | 13.1% | 26.2% | 12.5% | 14.2% | 28.6% | | 4.6% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 1.42x | 3.12x | 1.04x | 1.98x | 3.86x | | 0.56x | |
| EV / LTM EBIT | 10.9x | 11.9x | 8.3x | 13.9x | 13.5x | | 12.2x | |
| Price / LTM Sales | 0.63x | 2.01x | 1.06x | 1.65x | 2.88x | | 0.44x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 1.04x | 1.98x | 3.86x | | | | | |
| Historical EV / LTM Revenue | 0.50x | 0.56x | 1.32x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.66x | 0.70x | 0.73x | | | | | |
| (x) LTM Revenue | 1,666 | 1,666 | 1,666 | | | | | |
| (=) Implied Enterprise Value | 1,104 | 1,162 | 1,220 | | | | | |
| (-) Non-shareholder Claims * | (212) | (212) | (212) | | | | | |
| (=) Equity Value | 892 | 950 | 1,008 | | | | | |
| (/) Shares Outstanding | 374.4 | 374.4 | 374.4 | | | | | |
| Implied Value Range | 2.38 | 2.54 | 2.69 | | | | | |
| FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 2.38 | 2.54 | 2.69 | | 1.86 | | | |
| Upside / (Downside) | 28.1% | 36.4% | 44.8% | | | | | |