| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| PFI | VOS | KBX | DTGGe | TTR1 | | JST | |
| DB:PFI | XTRA:VOS | XTRA:KBX | XTRA:DTGGe | XTRA:TTR1 | | DB:JST | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 6.1% | 5.7% | 2.7% | 3.2% | 2.7% | | 7.7% | |
| 3Y CAGR | 8.6% | 8.7% | 5.6% | 10.8% | 4.1% | | 0.6% | |
| Latest Twelve Months | -4.1% | -2.8% | -1.7% | -4.8% | -3.1% | | -5.1% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 6.7% | 6.6% | 11.7% | 7.2% | 5.0% | | 9.9% | |
| Prior Fiscal Year | 8.1% | 7.9% | 10.3% | 9.7% | 5.4% | | 10.9% | |
| Latest Fiscal Year | 7.2% | 7.9% | 10.1% | 8.4% | 5.1% | | 9.8% | |
| Latest Twelve Months | 6.5% | 7.2% | 9.7% | 8.4% | 6.5% | | 8.9% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.82x | 1.34x | 1.81x | 0.92x | 0.72x | | 1.13x | |
| EV / LTM EBIT | 12.6x | 18.6x | 18.7x | 11.0x | 11.1x | | 12.8x | |
| Price / LTM Sales | 0.51x | 1.23x | 1.69x | 0.55x | 0.63x | | 0.68x | |
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| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.72x | 0.92x | 1.81x | | | | | |
| Historical EV / LTM Revenue | 0.72x | 0.83x | 1.26x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.88x | 0.93x | 0.98x | | | | | |
| (x) LTM Revenue | 1,145 | 1,145 | 1,145 | | | | | |
| (=) Implied Enterprise Value | 1,012 | 1,066 | 1,119 | | | | | |
| (-) Non-shareholder Claims * | (516) | (516) | (516) | | | | | |
| (=) Equity Value | 497 | 550 | 603 | | | | | |
| (/) Shares Outstanding | 14.9 | 14.9 | 14.9 | | | | | |
| Implied Value Range | 33.33 | 36.90 | 40.48 | | | | | |
| FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 33.33 | 36.90 | 40.48 | | 52.10 | | | |
| Upside / (Downside) | -36.0% | -29.2% | -22.3% | | | | | |