| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| CP60 | BIM | 4GV | GBT | MOVE | | ESL | |
| DB:CP60 | ENXTPA:BIM | DB:4GV | ENXTPA:GBT | SWX:MOVE | | DB:ESL | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 8.0% | 8.3% | 35.2% | 0.0% | 13.4% | | 8.8% | |
| 3Y CAGR | 10.1% | 5.6% | 80.3% | 3.5% | 19.1% | | 10.2% | |
| Latest Twelve Months | 7.2% | 8.3% | -5.9% | 8.5% | 13.2% | | 4.4% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 16.9% | 18.2% | 2.4% | 5.7% | 15.8% | | 10.7% | |
| Prior Fiscal Year | 14.0% | 15.5% | -0.5% | 5.6% | 15.9% | | 12.4% | |
| Latest Fiscal Year | 18.2% | 15.4% | 1.4% | 4.9% | 15.0% | | 13.1% | |
| Latest Twelve Months | 18.8% | 15.4% | 0.8% | 7.0% | 14.4% | | 13.1% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 4.78x | 3.45x | 0.45x | 0.84x | 5.26x | | 5.04x | |
| EV / LTM EBIT | 25.5x | 22.3x | 52.7x | 11.9x | 36.6x | | 38.4x | |
| Price / LTM Sales | 4.16x | 3.49x | 0.26x | 0.40x | 4.86x | | 4.61x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.45x | 3.45x | 5.26x | | | | | |
| Historical EV / LTM Revenue | 3.64x | 4.15x | 5.04x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 3.82x | 4.03x | 4.23x | | | | | |
| (x) LTM Revenue | 26,508 | 26,508 | 26,508 | | | | | |
| (=) Implied Enterprise Value | 101,374 | 106,710 | 112,045 | | | | | |
| (-) Non-shareholder Claims * | (10,768) | (10,768) | (10,768) | | | | | |
| (=) Equity Value | 90,606 | 95,942 | 101,277 | | | | | |
| (/) Shares Outstanding | 456.7 | 456.7 | 456.7 | | | | | |
| Implied Value Range | 198.39 | 210.07 | 221.75 | | | | | |
| FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 198.39 | 210.07 | 221.75 | | 267.60 | | | |
| Upside / (Downside) | -25.9% | -21.5% | -17.1% | | | | | |