| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| 1DEZ | 18TRA | 1DTRH | OK3 | CUM | | R3D | |
| BIT:1DEZ | BIT:18TRA | BIT:1DTRH | DB:OK3 | DB:CUM | | DB:R3D | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | -0.3% | 12.0% | 3.2% | 5.1% | 7.7% | | 5.1% | |
| 3Y CAGR | 3.9% | 15.7% | 10.8% | 10.5% | 12.4% | | 6.5% | |
| Latest Twelve Months | -12.1% | 1.3% | -3.2% | 11.1% | 0.1% | | -4.3% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 2.4% | 5.8% | 7.2% | 7.3% | 10.0% | | 3.6% | |
| Prior Fiscal Year | 6.4% | 8.9% | 9.7% | 8.8% | 10.1% | | 5.6% | |
| Latest Fiscal Year | 1.9% | 9.5% | 8.4% | 9.9% | 11.1% | | 5.1% | |
| Latest Twelve Months | 1.9% | 9.5% | 8.4% | 9.9% | 11.1% | | 5.1% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.60x | 0.71x | 0.85x | 0.61x | 1.29x | | 0.43x | |
| EV / LTM EBIT | 31.2x | 7.5x | 10.1x | 6.1x | 11.7x | | 8.3x | |
| Price / LTM Sales | 0.51x | 0.29x | 0.49x | 0.51x | 1.16x | | 0.25x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.60x | 0.71x | 1.29x | | | | | |
| Historical EV / LTM Revenue | 0.27x | 0.35x | 0.43x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.40x | 0.42x | 0.44x | | | | | |
| (x) LTM Revenue | 15,289 | 15,289 | 15,289 | | | | | |
| (=) Implied Enterprise Value | 6,127 | 6,449 | 6,772 | | | | | |
| (-) Non-shareholder Claims * | (2,750) | (2,750) | (2,750) | | | | | |
| (=) Equity Value | 3,377 | 3,699 | 4,022 | | | | | |
| (/) Shares Outstanding | 264.3 | 264.3 | 264.3 | | | | | |
| Implied Value Range | 12.78 | 14.00 | 15.22 | | | | | |
| FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 12.78 | 14.00 | 15.22 | | 14.24 | | | |
| Upside / (Downside) | -10.3% | -1.7% | 6.9% | | | | | |