| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| RYI | ZEUS | RS | MT | SZGP.F | | WS | |
| NYSE:RYI | NasdaqGS:ZEUS | NYSE:RS | NYSE:MT | OTCPK:SZGP.F | | NYSE:WS | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 0.4% | 4.2% | 4.7% | -2.4% | 3.2% | | NM- | |
| 3Y CAGR | -6.8% | -5.7% | -0.6% | -6.6% | 0.8% | | 17.3% | |
| Latest Twelve Months | -10.0% | -10.0% | -6.6% | -8.5% | -7.2% | | -6.8% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 5.0% | 3.8% | 11.6% | 9.7% | 1.3% | | 6.0% | |
| Prior Fiscal Year | 4.5% | 3.9% | 11.8% | 4.6% | 0.4% | | 3.8% | |
| Latest Fiscal Year | 0.8% | 2.5% | 8.6% | 5.2% | 0.6% | | 6.3% | |
| Latest Twelve Months | 0.8% | 2.5% | 8.6% | 5.2% | 0.6% | | 4.9% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.33x | 0.32x | 1.15x | 0.27x | 0.04x | | 0.41x | |
| EV / LTM EBIT | 43.4x | 13.1x | 13.4x | 5.3x | 6.9x | | 8.3x | |
| Price / LTM Sales | 0.15x | 0.17x | 1.07x | 0.34x | 0.14x | | 0.37x | |
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| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.04x | 0.32x | 1.15x | | | | | |
| Historical EV / LTM Revenue | 0.54x | 0.54x | 0.54x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.49x | 0.52x | 0.54x | | | | | |
| (x) LTM Revenue | 3,171 | 3,171 | 3,171 | | | | | |
| (=) Implied Enterprise Value | 1,560 | 1,642 | 1,724 | | | | | |
| (-) Non-shareholder Claims * | (134) | (134) | (134) | | | | | |
| (=) Equity Value | 1,426 | 1,508 | 1,590 | | | | | |
| (/) Shares Outstanding | 49.5 | 49.5 | 49.5 | | | | | |
| Implied Value Range | 28.78 | 30.44 | 32.09 | | | | | |
| FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 28.78 | 30.44 | 32.09 | | 25.90 | | | |
| Upside / (Downside) | 11.1% | 17.5% | 23.9% | | | | | |