| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| CPX | BLX | PIF | ETRX.F | SOLR | | MP9 | |
| TSX:CPX | TSX:BLX | TSX:PIF | OTCPK:ETRX.F | TSXV:SOLR | | DB:MP9 | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 16.5% | 8.2% | 1.2% | NM- | 19.8% | | 29.1% | |
| 3Y CAGR | 27.9% | 7.3% | 8.4% | NM- | 14.1% | | -13.4% | |
| Latest Twelve Months | -10.5% | -16.6% | -4.6% | NM | -42.3% | | 14.1% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 22.1% | 26.0% | 34.4% | 111.3% | -48.8% | | -55.5% | |
| Prior Fiscal Year | 26.0% | 24.1% | 35.7% | NA | -26.3% | | -32.1% | |
| Latest Fiscal Year | 22.6% | 27.1% | 32.6% | NA | -23.9% | | 20.4% | |
| Latest Twelve Months | 21.1% | 23.8% | 32.3% | NA | -40.7% | | 8.7% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 3.52x | 8.54x | 4.33x | NA | 0.99x | | 2.90x | |
| EV / LTM EBIT | 16.7x | 35.8x | 13.4x | 24.5x | -2.4x | | 33.4x | |
| Price / LTM Sales | 2.46x | 4.03x | 2.45x | NA | 0.95x | | 3.26x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.99x | 3.92x | 8.54x | | | | | |
| Historical EV / LTM Revenue | 0.99x | 3.10x | 107.09x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 4.49x | 4.72x | 4.96x | | | | | |
| (x) LTM Revenue | 87 | 87 | 87 | | | | | |
| (=) Implied Enterprise Value | 390 | 411 | 431 | | | | | |
| (-) Non-shareholder Claims * | 31 | 31 | 31 | | | | | |
| (=) Equity Value | 421 | 442 | 463 | | | | | |
| (/) Shares Outstanding | 63.7 | 63.7 | 63.7 | | | | | |
| Implied Value Range | 6.62 | 6.94 | 7.26 | | | | | |
| FX Rate: CAD/EUR | 1.6 | 1.6 | 1.6 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 4.22 | 4.42 | 4.63 | | 2.76 | | | |
| Upside / (Downside) | 52.9% | 60.3% | 67.8% | | | | | |