| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| DITAS | DOKTA | NFGR.F | KNDI | MWET3 | | M4HA | |
| IBSE:DITAS | IBSE:DOKTA | OTCPK:NFGR.F | NasdaqGS:KNDI | BOVESPA:MWET3 | | DB:M4HA | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 72.1% | 59.5% | 0.9% | 1.9% | 9.3% | | 1.0% | |
| 3Y CAGR | 86.8% | 63.7% | 2.2% | 17.1% | 4.6% | | -2.2% | |
| Latest Twelve Months | -22.8% | 23.9% | 2.4% | -11.6% | 4.4% | | -2.0% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | -1.5% | 8.4% | -2.2% | -19.3% | 3.7% | | 5.4% | |
| Prior Fiscal Year | -11.7% | 8.6% | -3.3% | -20.7% | -5.2% | | 5.1% | |
| Latest Fiscal Year | -19.1% | 1.3% | -3.7% | -9.4% | 20.2% | | 4.2% | |
| Latest Twelve Months | -19.1% | 1.3% | -3.7% | -15.3% | 20.2% | | 4.2% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 1.14x | 1.12x | 0.12x | 0.35x | 0.33x | | 0.30x | |
| EV / LTM EBIT | -6.0x | 86.3x | -3.1x | -2.3x | 1.6x | | 7.2x | |
| Price / LTM Sales | 0.66x | 0.54x | 0.07x | 0.85x | 0.09x | | 0.09x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.12x | 0.35x | 1.14x | | | | | |
| Historical EV / LTM Revenue | 0.30x | 0.45x | 0.57x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.35x | 0.37x | 0.38x | | | | | |
| (x) LTM Revenue | 11,819 | 11,819 | 11,819 | | | | | |
| (=) Implied Enterprise Value | 4,107 | 4,323 | 4,540 | | | | | |
| (-) Non-shareholder Claims * | (2,505) | (2,505) | (2,505) | | | | | |
| (=) Equity Value | 1,602 | 1,818 | 2,034 | | | | | |
| (/) Shares Outstanding | 194.2 | 194.2 | 194.2 | | | | | |
| Implied Value Range | 8.25 | 9.36 | 10.48 | | | | | |
| FX Rate: ZAR/EUR | 21.8 | 21.8 | 21.8 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 0.38 | 0.43 | 0.48 | | 0.25 | | | |
| Upside / (Downside) | 54.1% | 74.9% | 95.7% | | | | | |