| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| T5Z | NGLB | NUO | SD5 | RS6 | | MTSE | |
| DB:T5Z | DB:NGLB | DB:NUO | DB:SD5 | DB:RS6 | | BATS-CHIXE:MTSE | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 11.6% | -1.8% | 6.4% | 10.9% | 4.7% | | -2.4% | |
| 3Y CAGR | 3.1% | -13.1% | -5.6% | -1.6% | -0.6% | | -6.6% | |
| Latest Twelve Months | 0.2% | -11.0% | -11.5% | -6.7% | -6.6% | | -8.5% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 18.3% | 27.9% | 17.2% | 16.7% | 11.6% | | 9.7% | |
| Prior Fiscal Year | 21.2% | 20.4% | 17.9% | 16.8% | 11.8% | | 4.6% | |
| Latest Fiscal Year | 7.0% | 18.2% | 9.7% | 11.1% | 8.6% | | 5.2% | |
| Latest Twelve Months | 7.0% | 18.2% | 9.7% | 11.1% | 8.6% | | 5.2% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.48x | 1.96x | 1.03x | 1.20x | 1.14x | | 0.32x | |
| EV / LTM EBIT | 6.9x | 10.7x | 10.6x | 10.8x | 13.3x | | 6.2x | |
| Price / LTM Sales | 0.35x | 1.30x | 0.92x | 1.05x | 1.06x | | 0.39x | |
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| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.48x | 1.14x | 1.96x | | | | | |
| Historical EV / LTM Revenue | 0.20x | 0.32x | 0.49x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.36x | 0.38x | 0.40x | | | | | |
| (x) LTM Revenue | 62,441 | 62,441 | 62,441 | | | | | |
| (=) Implied Enterprise Value | 22,322 | 23,497 | 24,671 | | | | | |
| (-) Non-shareholder Claims * | 4,493 | 4,493 | 4,493 | | | | | |
| (=) Equity Value | 26,815 | 27,990 | 29,164 | | | | | |
| (/) Shares Outstanding | 880.4 | 880.4 | 880.4 | | | | | |
| Implied Value Range | 30.46 | 31.79 | 33.13 | | | | | |
| FX Rate: USD/EUR | 1.1 | 1.1 | 1.1 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 28.15 | 29.39 | 30.62 | | 26.59 | | | |
| Upside / (Downside) | 5.9% | 10.5% | 15.2% | | | | | |