| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| EVN | ELE | IGN1L | PCG | ENA | | FOT | |
| DB:EVN | BME:ELE | NSEL:IGN1L | BRSE:PCG | WSE:ENA | | DB:FOT | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 8.1% | 1.7% | 16.4% | 7.3% | 14.6% | | 1.3% | |
| 3Y CAGR | 10.7% | 0.7% | 7.1% | 5.8% | 13.7% | | -3.3% | |
| Latest Twelve Months | -4.5% | -16.5% | -9.5% | 1.9% | -29.0% | | -16.0% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 10.7% | 11.2% | 12.9% | 15.8% | 9.4% | | 15.1% | |
| Prior Fiscal Year | 15.3% | 6.6% | 13.9% | 14.1% | 10.6% | | 23.0% | |
| Latest Fiscal Year | 12.1% | 13.8% | 15.4% | 21.0% | 16.9% | | 19.3% | |
| Latest Twelve Months | 11.5% | 13.8% | 15.4% | 20.8% | 16.9% | | 19.3% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.32x | 1.84x | 1.33x | 3.95x | 0.37x | | 2.23x | |
| EV / LTM EBIT | 2.8x | 13.3x | 8.7x | 19.0x | 2.2x | | 11.5x | |
| Price / LTM Sales | 1.25x | 1.33x | 0.65x | 1.52x | 0.24x | | 2.37x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.32x | 1.33x | 3.95x | | | | | |
| Historical EV / LTM Revenue | 0.84x | 1.66x | 2.76x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 1.80x | 1.90x | 1.99x | | | | | |
| (x) LTM Revenue | 5,427 | 5,427 | 5,427 | | | | | |
| (=) Implied Enterprise Value | 9,793 | 10,308 | 10,824 | | | | | |
| (-) Non-shareholder Claims * | 798 | 798 | 798 | | | | | |
| (=) Equity Value | 10,591 | 11,106 | 11,622 | | | | | |
| (/) Shares Outstanding | 897.3 | 897.3 | 897.3 | | | | | |
| Implied Value Range | 11.80 | 12.38 | 12.95 | | | | | |
| FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 11.80 | 12.38 | 12.95 | | 14.29 | | | |
| Upside / (Downside) | -17.4% | -13.4% | -9.4% | | | | | |