| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| NKE | UAA * | ADI | TFRF.F | HAS * | | VGA | |
| NEOE:NKE | BMV:UAA* | NEOE:ADI | OTCPK:TFRF.F | BMV:HAS* | | DB:VGA | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 5.6% | 2.9% | 0.0% | 13.6% | -2.6% | | 3.0% | |
| 3Y CAGR | 4.9% | -3.4% | 3.7% | 4.0% | -13.6% | | 3.8% | |
| Latest Twelve Months | -7.3% | -9.4% | 12.8% | 5.0% | -10.4% | | 3.1% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 12.5% | 5.5% | 5.0% | 6.8% | 13.1% | | 14.2% | |
| Prior Fiscal Year | 11.5% | 4.1% | 1.3% | 7.8% | 6.4% | | 17.3% | |
| Latest Fiscal Year | 13.1% | 3.9% | 5.6% | 7.9% | 19.0% | | 21.3% | |
| Latest Twelve Months | 10.4% | 3.9% | 6.5% | 6.8% | 20.0% | | 21.2% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 1.94x | 0.71x | 1.79x | 0.32x | 2.83x | | 2.82x | |
| EV / LTM EBIT | 18.7x | 18.2x | 27.3x | 4.6x | 14.1x | | 13.3x | |
| Price / LTM Sales | 1.91x | 0.56x | 1.60x | 0.30x | 2.18x | | 2.26x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.32x | 1.79x | 2.83x | | | | | |
| Historical EV / LTM Revenue | 1.77x | 2.67x | 3.31x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 2.24x | 2.36x | 2.48x | | | | | |
| (x) LTM Revenue | 3,286 | 3,286 | 3,286 | | | | | |
| (=) Implied Enterprise Value | 7,366 | 7,754 | 8,141 | | | | | |
| (-) Non-shareholder Claims * | (1,796) | (1,796) | (1,796) | | | | | |
| (=) Equity Value | 5,570 | 5,957 | 6,345 | | | | | |
| (/) Shares Outstanding | 151.2 | 151.2 | 151.2 | | | | | |
| Implied Value Range | 36.84 | 39.40 | 41.96 | | | | | |
| FX Rate: USD/EUR | 1.1 | 1.1 | 1.1 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 32.63 | 34.90 | 37.17 | | 44.00 | | | |
| Upside / (Downside) | -25.8% | -20.7% | -15.5% | | | | | |