| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| TEL | TEL2 A | TH3B | KPN | TKA | | TLSN.F | |
| OB:TEL | OM:TEL2A | DB:TH3B | ENXTAM:KPN | WBAG:TKA | | OTCPK:TLSN.F | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | -6.8% | 1.7% | 0.0% | 0.4% | 3.5% | | 0.7% | |
| 3Y CAGR | -6.3% | 3.4% | 1.9% | 2.1% | 4.4% | | 0.3% | |
| Latest Twelve Months | -0.7% | 1.7% | 3.3% | 3.0% | 3.0% | | 0.6% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 21.2% | 19.2% | 13.0% | 22.4% | 16.5% | | 11.9% | |
| Prior Fiscal Year | 22.0% | 19.7% | 13.7% | 25.1% | 17.8% | | 11.1% | |
| Latest Fiscal Year | 22.6% | 21.0% | 14.3% | 25.2% | 17.5% | | 12.8% | |
| Latest Twelve Months | 22.6% | 21.0% | 14.3% | 25.2% | 17.5% | | 12.8% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 2.66x | 3.94x | 2.25x | 3.66x | 1.40x | | 2.44x | |
| EV / LTM EBIT | 11.8x | 18.8x | 15.7x | 14.5x | 8.0x | | 19.1x | |
| Price / LTM Sales | 2.36x | 2.91x | 0.97x | 2.65x | 1.03x | | 1.43x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 1.40x | 2.66x | 3.94x | | | | | |
| Historical EV / LTM Revenue | 2.30x | 2.44x | 2.74x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 2.33x | 2.45x | 2.57x | | | | | |
| (x) LTM Revenue | 89,127 | 89,127 | 89,127 | | | | | |
| (=) Implied Enterprise Value | 207,620 | 218,547 | 229,474 | | | | | |
| (-) Non-shareholder Claims * | (89,298) | (89,298) | (89,298) | | | | | |
| (=) Equity Value | 118,322 | 129,249 | 140,176 | | | | | |
| (/) Shares Outstanding | 3,932.1 | 3,932.1 | 3,932.1 | | | | | |
| Implied Value Range | 30.09 | 32.87 | 35.65 | | | | | |
| FX Rate: SEK/USD | 10.0 | 10.0 | 10.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 3.02 | 3.30 | 3.58 | | 3.30 | | | |
| Upside / (Downside) | -8.5% | 0.0% | 8.4% | | | | | |