| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| 9147 | 9064 | 9302 | 9069 | 9369 | | SNK | |
| TSE:9147 | TSE:9064 | TSE:9302 | TSE:9069 | TSE:9369 | | DB:SNK | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 3.8% | 1.6% | 3.1% | 8.4% | 2.5% | | 1.3% | |
| 3Y CAGR | 7.4% | -0.6% | -2.3% | 11.1% | 3.5% | | 3.1% | |
| Latest Twelve Months | 10.3% | 2.9% | 11.0% | 10.2% | 4.3% | | 8.6% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 3.3% | 3.2% | 7.7% | 3.9% | 2.3% | | 6.5% | |
| Prior Fiscal Year | 3.3% | 2.3% | 8.0% | 3.8% | 2.2% | | 6.2% | |
| Latest Fiscal Year | 2.4% | 0.8% | 6.4% | 4.1% | 2.9% | | 7.2% | |
| Latest Twelve Months | 2.8% | 1.2% | 7.1% | 4.0% | 2.5% | | NA | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.50x | 0.38x | 1.10x | 0.63x | 0.53x | | 0.71x | |
| EV / LTM EBIT | 17.9x | 31.3x | 15.5x | 15.6x | 20.9x | | 9.8x | |
| Price / LTM Sales | 0.32x | 0.40x | 1.04x | 0.40x | 0.35x | | 0.65x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.38x | 0.53x | 1.10x | | | | | |
| Historical EV / LTM Revenue | 0.38x | 0.48x | 0.52x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.61x | 0.64x | 0.67x | | | | | |
| (x) LTM Revenue | 617,725 | 617,725 | 617,725 | | | | | |
| (=) Implied Enterprise Value | 374,153 | 393,846 | 413,538 | | | | | |
| (-) Non-shareholder Claims * | (37,049) | (37,049) | (37,049) | | | | | |
| (=) Equity Value | 337,104 | 356,797 | 376,489 | | | | | |
| (/) Shares Outstanding | 51.3 | 51.3 | 51.3 | | | | | |
| Implied Value Range | 6,568.57 | 6,952.28 | 7,335.99 | | | | | |
| FX Rate: JPY/EUR | 175.5 | 175.5 | 175.5 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 37.44 | 39.62 | 41.81 | | 44.20 | | | |
| Upside / (Downside) | -15.3% | -10.4% | -5.4% | | | | | |