| Select LTM Revenue Multiple | | | | | | | | |
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| Benchmark Companies | | | |
| GOOS | AS | DECK | CROX | VNCE | | LULU | |
| NYSE:GOOS | NYSE:AS | NYSE:DECK | NasdaqGS:CROX | NYSE:VNCE | | NasdaqGS:LULU | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 9.9% | NM- | 16.2% | 27.2% | -4.1% | | 23.9% | |
| 3Y CAGR | 13.9% | 19.1% | 19.0% | 21.0% | 10.0% | | 29.8% | |
| Latest Twelve Months | 4.2% | 17.8% | 19.5% | 3.5% | -6.5% | | 10.1% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 12.5% | 7.4% | 19.5% | 23.7% | -2.9% | | 21.4% | |
| Prior Fiscal Year | 12.5% | 6.9% | 18.1% | 26.4% | -6.6% | | 23.0% | |
| Latest Fiscal Year | 12.4% | 9.1% | 21.8% | 25.5% | -0.4% | | 23.7% | |
| Latest Twelve Months | 11.0% | 9.1% | 23.5% | 25.5% | 1.1% | | 23.7% | |
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| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 1.29x | 3.06x | 3.04x | 1.82x | 0.52x | | 3.30x | |
| EV / LTM EBIT | 11.7x | 33.6x | 12.9x | 7.1x | 47.1x | | 13.9x | |
| Price / LTM Sales | 0.86x | 2.84x | 3.44x | 1.45x | 0.08x | | 3.34x | |
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| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.52x | 1.82x | 3.06x | | | | | |
| Historical EV / LTM Revenue | 3.30x | 6.24x | 10.60x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 4.26x | 4.48x | 4.71x | | | | | |
| (x) LTM Revenue | 10,588 | 10,588 | 10,588 | | | | | |
| (=) Implied Enterprise Value | 45,079 | 47,451 | 49,824 | | | | | |
| (-) Non-shareholder Claims * | 409 | 409 | 409 | | | | | |
| (=) Equity Value | 45,487 | 47,860 | 50,232 | | | | | |
| (/) Shares Outstanding | 120.6 | 120.6 | 120.6 | | | | | |
| Implied Value Range | 377.06 | 396.72 | 416.39 | | | | | |
| FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 377.06 | 396.72 | 416.39 | | 293.06 | | | |
| Upside / (Downside) | 28.7% | 35.4% | 42.1% | | | | | |