| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| TTWO | EA | ENAD.F | THQQ.F | UBSF.F | | SNAL | |
| NasdaqGS:TTWO | NasdaqGS:EA | OTCPK:ENAD.F | OTCPK:THQQ.F | OTCPK:UBSF.F | | NasdaqCM:SNAL | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 14.9% | 6.2% | 62.7% | 50.2% | 4.5% | | -0.4% | |
| 3Y CAGR | 16.6% | 2.2% | 9.0% | 59.7% | 1.1% | | -7.5% | |
| Latest Twelve Months | 1.0% | -1.3% | -7.6% | 21.4% | 11.3% | | 38.7% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 4.0% | 20.2% | -3.9% | -4.6% | 4.4% | | -1.3% | |
| Prior Fiscal Year | -10.3% | 21.8% | 11.6% | 1.3% | -26.9% | | -16.9% | |
| Latest Fiscal Year | -8.8% | 21.7% | -7.5% | -24.8% | 14.0% | | 4.6% | |
| Latest Twelve Months | -10.0% | 21.7% | -7.5% | -30.5% | 2.5% | | 4.6% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 7.87x | 5.30x | 0.38x | 0.84x | 1.32x | | 0.38x | |
| EV / LTM EBIT | -78.4x | 24.5x | -5.1x | -2.8x | 53.9x | | 8.3x | |
| Price / LTM Sales | 7.34x | 5.35x | 0.51x | 0.73x | 0.68x | | 0.45x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.38x | 1.32x | 7.87x | | | | | |
| Historical EV / LTM Revenue | 0.38x | 0.76x | 1.07x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.57x | 0.60x | 0.63x | | | | | |
| (x) LTM Revenue | 84 | 84 | 84 | | | | | |
| (=) Implied Enterprise Value | 48 | 51 | 53 | | | | | |
| (-) Non-shareholder Claims * | 6 | 6 | 6 | | | | | |
| (=) Equity Value | 54 | 56 | 59 | | | | | |
| (/) Shares Outstanding | 37.2 | 37.2 | 37.2 | | | | | |
| Implied Value Range | 1.44 | 1.51 | 1.58 | | | | | |
| FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 1.44 | 1.51 | 1.58 | | 1.02 | | | |
| Upside / (Downside) | 41.5% | 48.2% | 54.9% | | | | | |