| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| AEGN | RYAO.F | 601021 | IAG | EJTT.F | | CPCA.F | |
| ATSE:AEGN | OTCPK:RYAO.F | SHSE:601021 | BME:IAG | OTCPK:EJTT.F | | OTCPK:CPCA.F | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 6.3% | 11.8% | 6.5% | 4.7% | 7.8% | | -0.5% | |
| 3Y CAGR | 37.9% | 101.8% | 24.2% | 56.0% | 85.5% | | 31.8% | |
| Latest Twelve Months | 4.7% | 5.3% | 24.9% | 9.0% | 13.9% | | 10.5% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | -0.6% | -0.7% | 0.8% | -15.2% | -21.1% | | 0.5% | |
| Prior Fiscal Year | 14.3% | 13.4% | -35.3% | 12.3% | 5.6% | | 13.7% | |
| Latest Fiscal Year | 12.6% | 15.3% | 16.0% | 14.1% | 6.4% | | 12.6% | |
| Latest Twelve Months | 12.6% | 12.4% | 14.4% | 14.1% | 6.4% | | 12.6% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.92x | 1.53x | 3.18x | 0.65x | 0.35x | | 0.94x | |
| EV / LTM EBIT | 7.3x | 12.3x | 22.1x | 4.6x | 5.5x | | 7.4x | |
| Price / LTM Sales | 0.58x | 1.53x | 2.77x | 0.43x | 0.38x | | 0.55x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.35x | 0.92x | 3.18x | | | | | |
| Historical EV / LTM Revenue | 0.94x | 1.75x | 2.74x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 1.08x | 1.13x | 1.19x | | | | | |
| (x) LTM Revenue | 104,371 | 104,371 | 104,371 | | | | | |
| (=) Implied Enterprise Value | 112,423 | 118,340 | 124,256 | | | | | |
| (-) Non-shareholder Claims * | (40,707) | (40,707) | (40,707) | | | | | |
| (=) Equity Value | 71,716 | 77,633 | 83,549 | | | | | |
| (/) Shares Outstanding | 7,280.9 | 7,280.9 | 7,280.9 | | | | | |
| Implied Value Range | 9.85 | 10.66 | 11.48 | | | | | |
| FX Rate: HKD/USD | 7.8 | 7.8 | 7.8 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 1.27 | 1.37 | 1.48 | | 1.22 | | | |
| Upside / (Downside) | 4.0% | 12.6% | 21.2% | | | | | |