Select LTM Revenue Multiple | | | | | | | | |
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| Benchmark Companies | | | |
| TPS | AVIO | OS | HO | AM | | M2N | |
| BIT:TPS | BIT:AVIO | BIT:OS | ENXTPA:HO | ENXTPA:AM | | DB:M2N | |
Historical Revenue Growth | | | | | | | | |
5Y CAGR | 7.3% | 4.2% | 33.9% | 2.3% | -2.8% | | NM- | |
3Y CAGR | 11.8% | 14.5% | 44.7% | 8.3% | -4.4% | | 30.1% | |
Latest Twelve Months | 8.5% | 39.8% | 17.1% | 11.2% | 29.4% | | 21.8% | |
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Historical EBIT Profit Margin | | | | | | | | |
5 Year Average Margin | 11.9% | 2.4% | 14.5% | 8.0% | 7.5% | | -4.4% | |
Prior Fiscal Year | 11.4% | 1.0% | 18.8% | 8.6% | 6.8% | | 10.0% | |
Latest Fiscal Year | 12.0% | 1.4% | 8.4% | 8.6% | 8.3% | | 6.3% | |
Latest Twelve Months | 12.0% | 1.4% | 8.4% | 9.0% | 8.2% | | 6.3% | |
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Current Trading Multiples | | | | | | | | |
EV / LTM Revenue | 0.64x | 1.65x | 5.13x | 2.34x | 1.37x | | 2.13x | |
EV / LTM EBIT | 5.4x | 121.0x | 60.9x | 26.0x | 16.9x | | 34.0x | |
Price / LTM Sales | 0.96x | 1.85x | 4.44x | 2.26x | 3.20x | | 2.43x | |
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| Low | Mid | High | | | | | |
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Benchmark EV / LTM Revenue | 0.64x | 1.65x | 5.13x | | | | | |
Historical EV / LTM Revenue | 2.13x | 2.79x | 3.44x | | | | | |
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Selected EV / LTM Revenue | 2.21x | 2.32x | 2.44x | | | | | |
(x) LTM Revenue | 4 | 4 | 4 | | | | | |
(=) Implied Enterprise Value | 9 | 9 | 10 | | | | | |
(-) Non-shareholder Claims * | 1 | 1 | 1 | | | | | |
(=) Equity Value | 10 | 10 | 11 | | | | | |
(/) Shares Outstanding | 2.4 | 2.4 | 2.4 | | | | | |
Implied Value Range | 4.15 | 4.34 | 4.53 | | | | | |
FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
Implied Value Range (Trading Cur) | 4.15 | 4.34 | 4.53 | | 3.96 | | | |
Upside / (Downside) | 4.8% | 9.6% | 14.5% | | | | | |