| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| EDEN | ADYEN | AVDX | SQ3 | FIV | | WLN | |
| ENXTPA:EDEN | ENXTAM:ADYEN | NasdaqGS:AVDX | DB:SQ3 | DB:FIV | | ENXTPA:WLN | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 10.7% | 30.4% | 24.0% | 38.6% | 15.0% | | 14.2% | |
| 3Y CAGR | 18.1% | 26.2% | 20.9% | 10.9% | 8.0% | | 7.9% | |
| Latest Twelve Months | 12.9% | 23.9% | 15.3% | 10.1% | 7.1% | | 0.5% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 29.2% | 50.8% | -25.1% | 0.0% | 18.5% | | 14.6% | |
| Prior Fiscal Year | 23.5% | 41.9% | -14.0% | -0.4% | 25.4% | | 11.3% | |
| Latest Fiscal Year | 30.4% | 44.6% | -0.5% | 4.3% | 28.7% | | 9.6% | |
| Latest Twelve Months | 30.4% | 44.6% | -0.5% | 4.3% | 28.7% | | 9.6% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 3.54x | 17.80x | 3.18x | 1.36x | 7.07x | | 0.93x | |
| EV / LTM EBIT | 11.7x | 39.9x | -621.6x | 31.7x | 24.6x | | 9.7x | |
| Price / LTM Sales | 2.85x | 22.64x | 3.90x | 1.42x | 5.93x | | 0.37x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 1.36x | 3.54x | 17.80x | | | | | |
| Historical EV / LTM Revenue | 0.93x | 2.51x | 8.94x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 1.16x | 1.22x | 1.28x | | | | | |
| (x) LTM Revenue | 4,632 | 4,632 | 4,632 | | | | | |
| (=) Implied Enterprise Value | 5,376 | 5,659 | 5,942 | | | | | |
| (-) Non-shareholder Claims * | (2,571) | (2,571) | (2,571) | | | | | |
| (=) Equity Value | 2,805 | 3,088 | 3,371 | | | | | |
| (/) Shares Outstanding | 283.6 | 283.6 | 283.6 | | | | | |
| Implied Value Range | 9.89 | 10.89 | 11.89 | | | | | |
| FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 9.89 | 10.89 | 11.89 | | 6.09 | | | |
| Upside / (Downside) | 62.4% | 78.7% | 95.1% | | | | | |