| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| RGCO | SWX | UGI | NWN | NFG | | RG5 | |
| NasdaqGM:RGCO | NYSE:SWX | NYSE:UGI | NYSE:NWN | NYSE:NFG | | DB:RG5 | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 4.5% | 10.4% | -0.3% | 9.1% | 2.8% | | 17.8% | |
| 3Y CAGR | 4.0% | 11.6% | -1.1% | 10.2% | 3.7% | | 30.7% | |
| Latest Twelve Months | 9.7% | -10.8% | -4.4% | 3.9% | 5.9% | | 27.0% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 19.5% | 10.0% | 15.1% | 16.8% | 35.8% | | 64.2% | |
| Prior Fiscal Year | 17.5% | 9.4% | -6.9% | 15.7% | 35.4% | | 66.2% | |
| Latest Fiscal Year | 19.4% | 9.8% | 15.1% | 16.2% | 38.2% | | 60.4% | |
| Latest Twelve Months | 21.3% | 11.2% | 17.0% | 19.0% | 40.8% | | 60.2% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 3.65x | 2.07x | 1.91x | 3.26x | 5.03x | | 5.26x | |
| EV / LTM EBIT | 17.2x | 18.4x | 11.2x | 17.1x | 12.3x | | 8.7x | |
| Price / LTM Sales | 2.37x | 1.07x | 1.06x | 1.37x | 3.63x | | 1.27x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 1.91x | 3.26x | 5.03x | | | | | |
| Historical EV / LTM Revenue | 4.73x | 5.78x | 10.12x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 4.84x | 5.09x | 5.35x | | | | | |
| (x) LTM Revenue | 3,693 | 3,693 | 3,693 | | | | | |
| (=) Implied Enterprise Value | 17,872 | 18,813 | 19,754 | | | | | |
| (-) Non-shareholder Claims * | (14,705) | (14,705) | (14,705) | | | | | |
| (=) Equity Value | 3,167 | 4,108 | 5,049 | | | | | |
| (/) Shares Outstanding | 119.0 | 119.0 | 119.0 | | | | | |
| Implied Value Range | 26.61 | 34.51 | 42.41 | | | | | |
| FX Rate: USD/EUR | 1.1 | 1.1 | 1.1 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 23.46 | 30.42 | 37.39 | | 34.40 | | | |
| Upside / (Downside) | -31.8% | -11.6% | 8.7% | | | | | |