| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| ZIP | KIND | GITS | VFOR.F | GAME | | 80Q | |
| NYSE:ZIP | NYSE:KIND | NasdaqCM:GITS | PINC:VFOR.F | NasdaqCM:GAME | | BST:80Q | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 2.0% | 24.5% | NM- | 3.4% | NM- | | 39.9% | |
| 3Y CAGR | -13.8% | 8.8% | NM- | 1.6% | 112.3% | | 7.5% | |
| Latest Twelve Months | -26.6% | 13.3% | -136.9% | 13.4% | 132.9% | | 6.5% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 9.7% | -60.4% | -1088.9% | -5.5% | -102.4% | | 26.8% | |
| Prior Fiscal Year | 14.6% | -73.8% | -1266.2% | -4.2% | -35.8% | | 30.2% | |
| Latest Fiscal Year | 0.3% | -38.8% | -1325.6% | 10.6% | -26.9% | | 35.7% | |
| Latest Twelve Months | 0.3% | -38.8% | 2193.1% | 10.6% | -26.9% | | 35.7% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 1.24x | 0.75x | -49.24x | 1.63x | 0.55x | | 1.09x | |
| EV / LTM EBIT | 467.2x | -1.9x | -2.2x | 15.3x | -2.1x | | 3.0x | |
| Price / LTM Sales | 1.15x | 2.31x | -18.99x | 1.09x | 0.30x | | 3.31x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | -49.24x | 0.75x | 1.63x | | | | | |
| Historical EV / LTM Revenue | 0.34x | 1.28x | 18.77x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 1.95x | 2.06x | 2.16x | | | | | |
| (x) LTM Revenue | 340 | 340 | 340 | | | | | |
| (=) Implied Enterprise Value | 663 | 698 | 733 | | | | | |
| (-) Non-shareholder Claims * | 754 | 754 | 754 | | | | | |
| (=) Equity Value | 1,417 | 1,452 | 1,487 | | | | | |
| (/) Shares Outstanding | 183.5 | 183.5 | 183.5 | | | | | |
| Implied Value Range | 7.72 | 7.91 | 8.10 | | | | | |
| FX Rate: USD/EUR | 1.1 | 1.1 | 1.1 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 6.83 | 7.00 | 7.16 | | 4.08 | | | |
| Upside / (Downside) | 67.4% | 71.5% | 75.6% | | | | | |