| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| TTI | PUMP | NINE | TDW | VTOL | | OI2 | |
| NYSE:TTI | NYSE:PUMP | NYSE:NINE | NYSE:TDW | NYSE:VTOL | | DB:OI2 | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 1.3% | -6.8% | -7.8% | 22.6% | 1.6% | | -7.4% | |
| 3Y CAGR | 15.6% | 18.2% | 16.6% | 53.6% | 7.5% | | 6.5% | |
| Latest Twelve Months | -4.1% | -13.3% | -4.4% | 19.3% | 6.5% | | -9.0% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 0.7% | 5.3% | -6.6% | -2.2% | 4.1% | | -3.9% | |
| Prior Fiscal Year | 7.2% | 12.8% | 3.0% | 17.4% | 5.4% | | 2.8% | |
| Latest Fiscal Year | 8.3% | 3.9% | 1.7% | 22.0% | 10.4% | | 1.1% | |
| Latest Twelve Months | 10.0% | 3.3% | 2.0% | 21.9% | 11.2% | | 1.9% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.92x | 0.47x | 0.66x | 1.71x | 1.09x | | 0.53x | |
| EV / LTM EBIT | 9.2x | 14.2x | 33.5x | 7.8x | 9.7x | | 27.7x | |
| Price / LTM Sales | 0.64x | 0.40x | 0.05x | 1.50x | 0.58x | | 0.41x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.47x | 0.92x | 1.71x | | | | | |
| Historical EV / LTM Revenue | 0.58x | 0.70x | 0.90x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.56x | 0.59x | 0.62x | | | | | |
| (x) LTM Revenue | 685 | 685 | 685 | | | | | |
| (=) Implied Enterprise Value | 385 | 405 | 425 | | | | | |
| (-) Non-shareholder Claims * | (82) | (82) | (82) | | | | | |
| (=) Equity Value | 303 | 323 | 343 | | | | | |
| (/) Shares Outstanding | 61.9 | 61.9 | 61.9 | | | | | |
| Implied Value Range | 4.89 | 5.22 | 5.55 | | | | | |
| FX Rate: USD/EUR | 1.1 | 1.1 | 1.1 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 4.35 | 4.64 | 4.93 | | 3.96 | | | |
| Upside / (Downside) | 9.8% | 17.1% | 24.4% | | | | | |