| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| NEM | HL | FCX | AA | PMNX.F | | HT3 | |
| NYSE:NEM | NYSE:HL | NYSE:FCX | NYSE:AA | OTCPK:PMNX.F | | DB:HT3 | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 13.9% | 6.7% | 12.1% | 2.7% | 25.1% | | 10.4% | |
| 3Y CAGR | 15.2% | 4.8% | 3.7% | -0.7% | 17.1% | | 12.9% | |
| Latest Twelve Months | 26.6% | 45.6% | 1.4% | 16.9% | 21.7% | | 61.8% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 20.9% | 11.6% | 29.0% | 8.6% | 33.9% | | 23.1% | |
| Prior Fiscal Year | 6.0% | 5.2% | 27.3% | -0.7% | 45.1% | | 13.0% | |
| Latest Fiscal Year | 31.6% | 13.4% | 27.3% | 7.8% | 43.9% | | 27.1% | |
| Latest Twelve Months | 43.5% | 30.8% | 26.6% | 11.1% | 43.9% | | 40.0% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 4.35x | 9.66x | 3.01x | 0.71x | 3.44x | | 5.04x | |
| EV / LTM EBIT | 10.0x | 31.3x | 11.3x | 6.5x | 7.8x | | 12.6x | |
| Price / LTM Sales | 4.55x | 9.59x | 2.37x | 0.89x | 3.97x | | 4.93x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.71x | 3.44x | 9.66x | | | | | |
| Historical EV / LTM Revenue | 1.80x | 2.06x | 2.29x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 3.55x | 3.74x | 3.92x | | | | | |
| (x) LTM Revenue | 8,575 | 8,575 | 8,575 | | | | | |
| (=) Implied Enterprise Value | 30,432 | 32,034 | 33,636 | | | | | |
| (-) Non-shareholder Claims * | (956) | (956) | (956) | | | | | |
| (=) Equity Value | 29,476 | 31,078 | 32,680 | | | | | |
| (/) Shares Outstanding | 504.9 | 504.9 | 504.9 | | | | | |
| Implied Value Range | 58.38 | 61.55 | 64.73 | | | | | |
| FX Rate: USD/EUR | 1.2 | 1.2 | 1.2 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 50.04 | 52.76 | 55.48 | | 72.98 | | | |
| Upside / (Downside) | -31.4% | -27.7% | -24.0% | | | | | |