| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| SAIA | UBER | ARCB | KNX | WERN | | UX2A | |
| NasdaqGS:SAIA | NYSE:UBER | NasdaqGS:ARCB | NYSE:KNX | NasdaqGS:WERN | | DB:UX2A | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 12.4% | 27.6% | 6.9% | 8.9% | 4.2% | | -5.4% | |
| 3Y CAGR | 11.9% | 36.1% | 3.5% | 7.3% | 3.5% | | 3.9% | |
| Latest Twelve Months | 11.4% | 18.0% | -5.6% | 3.8% | -7.7% | | 4.2% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 14.0% | -16.6% | 5.1% | 9.9% | 6.9% | | 6.5% | |
| Prior Fiscal Year | 16.0% | 3.0% | 4.4% | 3.9% | 4.0% | | 7.2% | |
| Latest Fiscal Year | 15.2% | 6.4% | 3.7% | 3.2% | 1.7% | | 9.0% | |
| Latest Twelve Months | 15.2% | 6.4% | 3.7% | 3.2% | 1.7% | | 9.0% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 2.84x | 3.35x | 0.40x | 1.25x | 0.81x | | 1.82x | |
| EV / LTM EBIT | 18.7x | 52.6x | 10.8x | 39.6x | 48.1x | | 20.3x | |
| Price / LTM Sales | 2.74x | 3.54x | 0.34x | 0.85x | 0.58x | | 1.37x | |
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| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.40x | 1.25x | 3.35x | | | | | |
| Historical EV / LTM Revenue | 1.05x | 1.71x | 1.92x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 1.49x | 1.56x | 1.64x | | | | | |
| (x) LTM Revenue | 8,072 | 8,072 | 8,072 | | | | | |
| (=) Implied Enterprise Value | 11,999 | 12,631 | 13,262 | | | | | |
| (-) Non-shareholder Claims * | (3,671) | (3,671) | (3,671) | | | | | |
| (=) Equity Value | 8,328 | 8,960 | 9,591 | | | | | |
| (/) Shares Outstanding | 117.8 | 117.8 | 117.8 | | | | | |
| Implied Value Range | 70.71 | 76.07 | 81.43 | | | | | |
| FX Rate: USD/EUR | 1.1 | 1.1 | 1.1 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 61.89 | 66.58 | 71.28 | | 80.74 | | | |
| Upside / (Downside) | -23.3% | -17.5% | -11.7% | | | | | |