| Select LTM Revenue Multiple | | | | | | | | |
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| Benchmark Companies | | | |
| LSEG | BURSA | ENX | DBOE.F | B3SA3 | | TASE | |
| LSE:LSEG | KLSE:BURSA | ENXTPA:ENX | OTCPK:DBOE.F | BOVESPA:B3SA3 | | TASE:TASE | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 30.8% | 9.3% | 19.1% | 11.9% | 10.0% | | 11.0% | |
| 3Y CAGR | 10.7% | 0.7% | 7.8% | 10.0% | 0.9% | | 10.6% | |
| Latest Twelve Months | 5.7% | 20.7% | 10.3% | -6.0% | 6.5% | | 12.3% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 25.5% | 56.2% | 49.4% | 43.4% | 63.0% | | 23.3% | |
| Prior Fiscal Year | 19.8% | 52.0% | 47.9% | 51.0% | 59.0% | | 27.7% | |
| Latest Fiscal Year | 20.9% | 52.9% | 51.5% | 49.6% | 64.7% | | 30.4% | |
| Latest Twelve Months | 20.9% | 52.0% | 51.5% | 49.0% | 64.7% | | 30.4% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 7.91x | 7.08x | 10.18x | 10.30x | 7.02x | | 8.34x | |
| EV / LTM EBIT | 37.9x | 13.6x | 19.8x | 21.0x | 10.9x | | 27.5x | |
| Price / LTM Sales | 6.92x | 7.78x | 9.46x | 9.00x | 7.29x | | 9.28x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 7.02x | 7.91x | 10.30x | | | | | |
| Historical EV / LTM Revenue | 3.90x | 4.52x | 8.34x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 5.59x | 5.88x | 6.18x | | | | | |
| (x) LTM Revenue | 438 | 438 | 438 | | | | | |
| (=) Implied Enterprise Value | 2,448 | 2,576 | 2,705 | | | | | |
| (-) Non-shareholder Claims * | 413 | 413 | 413 | | | | | |
| (=) Equity Value | 2,861 | 2,990 | 3,119 | | | | | |
| (/) Shares Outstanding | 91.2 | 91.2 | 91.2 | | | | | |
| Implied Value Range | 31.36 | 32.77 | 34.18 | | | | | |
| FX Rate: ILS/ILS | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 31.36 | 32.77 | 34.18 | | 46.30 | | | |
| Upside / (Downside) | -32.3% | -29.2% | -26.2% | | | | | |