| Select LTM Revenue Multiple | | | | | | | | |
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| Benchmark Companies | | | |
| 1ORA | O2D | KPN | TKA | PROX | | TIAO.F | |
| BIT:1ORA | HMSE:O2D | ENXTAM:KPN | WBAG:TKA | ENXTBR:PROX | | OTCPK:TIAO.F | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | -1.0% | 3.0% | 0.4% | 3.5% | 2.5% | | -4.2% | |
| 3Y CAGR | -1.8% | 3.2% | 2.1% | 4.4% | 4.8% | | -1.8% | |
| Latest Twelve Months | 1.5% | -1.0% | 3.0% | 3.0% | 6.4% | | 1.2% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 13.3% | 1.4% | 22.4% | 16.5% | 11.9% | | 11.4% | |
| Prior Fiscal Year | 13.7% | 3.5% | 25.1% | 17.8% | 9.8% | | 13.4% | |
| Latest Fiscal Year | 15.6% | 5.8% | 25.2% | 17.5% | 10.7% | | 11.4% | |
| Latest Twelve Months | 15.6% | 5.8% | 25.2% | 17.5% | 10.7% | | 11.4% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 1.46x | 1.19x | 3.72x | 1.45x | 1.03x | | 1.26x | |
| EV / LTM EBIT | 9.4x | 20.5x | 14.8x | 8.3x | 9.6x | | 11.0x | |
| Price / LTM Sales | 0.78x | 0.75x | 2.71x | 1.08x | 0.35x | | 0.48x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 1.03x | 1.45x | 3.72x | | | | | |
| Historical EV / LTM Revenue | 1.26x | 2.14x | 2.46x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 1.41x | 1.48x | 1.55x | | | | | |
| (x) LTM Revenue | 14,484 | 14,484 | 14,484 | | | | | |
| (=) Implied Enterprise Value | 20,369 | 21,441 | 22,513 | | | | | |
| (-) Non-shareholder Claims * | (11,326) | (11,326) | (11,326) | | | | | |
| (=) Equity Value | 9,043 | 10,115 | 11,187 | | | | | |
| (/) Shares Outstanding | 23,966.8 | 23,966.8 | 23,966.8 | | | | | |
| Implied Value Range | 0.38 | 0.42 | 0.47 | | | | | |
| FX Rate: EUR/USD | 0.9 | 0.9 | 0.9 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 0.41 | 0.46 | 0.51 | | 0.34 | | | |
| Upside / (Downside) | 20.1% | 34.4% | 48.6% | | | | | |