| Select LTM Revenue Multiple | | | | | | | | |
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| Benchmark Companies | | | |
| ANTO | RIO | HOC | 0RP9 | 0R22 | | NGLB | |
| LSE:ANTO | LSE:RIO | LSE:HOC | LSE:0RP9 | LSE:0R22 | | DB:NGLB | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 5.9% | 4.4% | 4.6% | -2.4% | 5.9% | | -1.8% | |
| 3Y CAGR | -4.0% | -5.5% | 5.3% | -6.6% | 2.5% | | -13.1% | |
| Latest Twelve Months | 4.6% | -0.7% | 36.6% | -7.7% | 13.4% | | -11.0% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 30.9% | 34.6% | 16.2% | 10.0% | 30.9% | | 27.9% | |
| Prior Fiscal Year | 27.9% | 27.5% | 11.9% | 4.6% | 25.2% | | 20.4% | |
| Latest Fiscal Year | 24.5% | 26.1% | 23.8% | 5.5% | 36.8% | | 18.2% | |
| Latest Twelve Months | 24.5% | 26.1% | 23.8% | 5.2% | 36.8% | | 18.2% | |
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| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 3.92x | 1.98x | 2.29x | 0.35x | 2.95x | | 1.94x | |
| EV / LTM EBIT | 16.0x | 7.6x | 9.6x | 6.6x | 8.0x | | 10.6x | |
| Price / LTM Sales | 3.37x | 1.92x | 1.98x | 0.39x | 2.45x | | 1.26x | |
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| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.35x | 2.29x | 3.92x | | | | | |
| Historical EV / LTM Revenue | 1.41x | 1.56x | 2.12x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 1.51x | 1.59x | 1.67x | | | | | |
| (x) LTM Revenue | 27,290 | 27,290 | 27,290 | | | | | |
| (=) Implied Enterprise Value | 41,247 | 43,418 | 45,589 | | | | | |
| (-) Non-shareholder Claims * | (17,425) | (17,425) | (17,425) | | | | | |
| (=) Equity Value | 23,822 | 25,993 | 28,164 | | | | | |
| (/) Shares Outstanding | 1,213.4 | 1,213.4 | 1,213.4 | | | | | |
| Implied Value Range | 19.63 | 21.42 | 23.21 | | | | | |
| FX Rate: USD/EUR | 1.1 | 1.1 | 1.1 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 17.36 | 18.95 | 20.53 | | 25.24 | | | |
| Upside / (Downside) | -31.2% | -24.9% | -18.7% | | | | | |