| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| AAS | DIG | BERI | MWY | HFEL | | HHI | |
| LSE:AAS | LSE:DIG | LSE:BERI | LSE:MWY | LSE:HFEL | | LSE:HHI | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 9.6% | NM- | 34.4% | 14.6% | 5.3% | | NM- | |
| 3Y CAGR | -29.0% | 141.2% | -8.5% | -13.2% | 8.0% | | NM- | |
| Latest Twelve Months | 24.8% | 41.2% | 225.1% | -25.6% | 202.8% | | 22.9% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 61.4% | 93.5% | 120.5% | 97.3% | 100.9% | | 107.3% | |
| Prior Fiscal Year | 90.4% | 66.5% | 110.5% | 89.7% | 108.4% | | 92.8% | |
| Latest Fiscal Year | 92.3% | 89.8% | 92.3% | 95.9% | 91.9% | | 92.9% | |
| Latest Twelve Months | 92.3% | 94.1% | 92.3% | 92.8% | 91.9% | | 92.9% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 8.69x | 9.69x | 6.28x | 10.62x | 0.04x | | 9.05x | |
| EV / LTM EBIT | 9.4x | 10.3x | 6.8x | 11.4x | 0.0x | | 9.7x | |
| Price / LTM Sales | 7.74x | 8.70x | 5.40x | 10.85x | 7.61x | | 9.12x | |
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| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.04x | 8.69x | 10.62x | | | | | |
| Historical EV / LTM Revenue | -61.62x | 6.74x | 11.57x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 5.97x | 6.28x | 6.60x | | | | | |
| (x) LTM Revenue | 32 | 32 | 32 | | | | | |
| (=) Implied Enterprise Value | 191 | 201 | 211 | | | | | |
| (-) Non-shareholder Claims * | 369 | 369 | 369 | | | | | |
| (=) Equity Value | 560 | 570 | 580 | | | | | |
| (/) Shares Outstanding | 172.1 | 172.1 | 172.1 | | | | | |
| Implied Value Range | 3.25 | 3.31 | 3.37 | | | | | |
| FX Rate: GBP/GBP | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 3.25 | 3.31 | 3.37 | | 1.70 | | | |
| Upside / (Downside) | 92.0% | 95.4% | 98.9% | | | | | |