| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| BC | JN0 | PRP | 1MC | SFER | | MONC | |
| BIT:BC | DB:JN0 | DB:PRP | BIT:1MC | BIT:SFER | | BIT:MONC | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 16.0% | 7.9% | 11.0% | 9.6% | -5.6% | | 13.8% | |
| 3Y CAGR | 21.5% | 14.6% | 17.3% | 9.7% | -3.0% | | 15.0% | |
| Latest Twelve Months | 12.2% | 2.2% | 14.9% | -1.7% | -10.5% | | 4.2% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 12.8% | 9.7% | 16.1% | 24.3% | 6.3% | | 28.5% | |
| Prior Fiscal Year | 17.4% | 11.8% | 22.4% | 26.4% | 6.8% | | 30.0% | |
| Latest Fiscal Year | 16.8% | 9.5% | 23.5% | 23.1% | -4.9% | | 29.5% | |
| Latest Twelve Months | 16.8% | 9.5% | 23.5% | 23.1% | -4.9% | | 29.5% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 5.62x | 1.15x | 2.93x | 3.41x | 1.34x | | 4.54x | |
| EV / LTM EBIT | 33.5x | 12.2x | 12.4x | 14.7x | -27.2x | | 15.4x | |
| Price / LTM Sales | 5.00x | 0.78x | 2.62x | 3.09x | 0.85x | | 4.61x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 1.15x | 2.93x | 5.62x | | | | | |
| Historical EV / LTM Revenue | 4.54x | 5.54x | 9.59x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 4.59x | 4.83x | 5.07x | | | | | |
| (x) LTM Revenue | 3,109 | 3,109 | 3,109 | | | | | |
| (=) Implied Enterprise Value | 14,261 | 15,011 | 15,762 | | | | | |
| (-) Non-shareholder Claims * | 235 | 235 | 235 | | | | | |
| (=) Equity Value | 14,495 | 15,246 | 15,996 | | | | | |
| (/) Shares Outstanding | 270.6 | 270.6 | 270.6 | | | | | |
| Implied Value Range | 53.57 | 56.34 | 59.11 | | | | | |
| FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 53.57 | 56.34 | 59.11 | | 52.98 | | | |
| Upside / (Downside) | 1.1% | 6.3% | 11.6% | | | | | |