| Select LTM Revenue Multiple | | | | | | | | |
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| Benchmark Companies | | | |
| DBOE.F | B3SA3 | LSEG | BURSA | JSE | | TASE | |
| OTCPK:DBOE.F | BOVESPA:B3SA3 | LSE:LSEG | KLSE:BURSA | JSE:JSE | | TASE:TASE | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 11.9% | 10.0% | 30.8% | 9.3% | 6.4% | | 11.0% | |
| 3Y CAGR | 10.0% | 0.9% | 10.7% | 0.7% | 5.9% | | 10.6% | |
| Latest Twelve Months | 12.8% | 8.3% | 5.7% | 20.7% | 6.1% | | 15.7% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 43.8% | 63.3% | 25.5% | 56.2% | 30.5% | | 24.2% | |
| Prior Fiscal Year | 51.0% | 59.0% | 19.8% | 52.0% | 29.0% | | 27.7% | |
| Latest Fiscal Year | 49.6% | 64.7% | 20.9% | 52.9% | 29.0% | | 30.4% | |
| Latest Twelve Months | 49.0% | 66.4% | 20.9% | 52.0% | 29.0% | | 31.9% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 10.16x | 7.51x | 7.85x | 7.31x | 2.37x | | 10.49x | |
| EV / LTM EBIT | 20.8x | 11.3x | 37.6x | 14.0x | 8.2x | | 32.8x | |
| Price / LTM Sales | 8.87x | 7.75x | 6.87x | 8.01x | 3.58x | | 10.92x | |
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| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 2.37x | 7.51x | 10.16x | | | | | |
| Historical EV / LTM Revenue | 3.90x | 4.52x | 8.35x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 6.92x | 7.28x | 7.64x | | | | | |
| (x) LTM Revenue | 461 | 461 | 461 | | | | | |
| (=) Implied Enterprise Value | 3,185 | 3,353 | 3,520 | | | | | |
| (-) Non-shareholder Claims * | 198 | 198 | 198 | | | | | |
| (=) Equity Value | 3,383 | 3,551 | 3,718 | | | | | |
| (/) Shares Outstanding | 91.2 | 91.2 | 91.2 | | | | | |
| Implied Value Range | 37.08 | 38.91 | 40.75 | | | | | |
| FX Rate: ILS/ILS | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 37.08 | 38.91 | 40.75 | | 55.11 | | | |
| Upside / (Downside) | -32.7% | -29.4% | -26.1% | | | | | |