| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| FDX | 5CI | FOODL | MLL | 13B | | TGHN | |
| XTRA:FDX | DB:5CI | ATSE:FOODL | XTRA:MLL | DB:13B | | DB:TGHN | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 4.7% | 5.1% | 8.8% | 12.4% | 2.7% | | 5.0% | |
| 3Y CAGR | 1.5% | 6.3% | 5.8% | 22.6% | 0.3% | | -8.0% | |
| Latest Twelve Months | 0.3% | 4.0% | 11.7% | -4.3% | 1.7% | | 14.7% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 7.1% | 2.2% | 0.7% | 0.8% | 5.6% | | 5.4% | |
| Prior Fiscal Year | 7.1% | 2.3% | 0.1% | -0.2% | 3.2% | | 7.4% | |
| Latest Fiscal Year | 7.9% | 2.5% | 2.7% | 2.7% | 4.2% | | 5.7% | |
| Latest Twelve Months | 7.6% | 2.5% | 2.3% | 2.7% | 4.2% | | 5.7% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.93x | 0.18x | 0.52x | 0.54x | 0.48x | | 0.28x | |
| EV / LTM EBIT | 12.2x | 7.3x | 22.4x | 20.2x | 11.5x | | 4.9x | |
| Price / LTM Sales | 0.56x | 0.30x | 0.18x | 0.15x | 0.07x | | 0.50x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.18x | 0.52x | 0.93x | | | | | |
| Historical EV / LTM Revenue | 0.26x | 0.32x | 0.44x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.29x | 0.31x | 0.33x | | | | | |
| (x) LTM Revenue | 1,442 | 1,442 | 1,442 | | | | | |
| (=) Implied Enterprise Value | 425 | 448 | 470 | | | | | |
| (-) Non-shareholder Claims * | 313 | 313 | 313 | | | | | |
| (=) Equity Value | 738 | 761 | 783 | | | | | |
| (/) Shares Outstanding | 2.9 | 2.9 | 2.9 | | | | | |
| Implied Value Range | 256.47 | 264.25 | 272.03 | | | | | |
| FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 256.47 | 264.25 | 272.03 | | 231.20 | | | |
| Upside / (Downside) | 10.9% | 14.3% | 17.7% | | | | | |