| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| CCO | FLNT | PUBM | ADV | SATS | | CREX | |
| NYSE:CCO | NasdaqCM:FLNT | NasdaqGM:PUBM | NasdaqGS:ADV | NasdaqGS:SATS | | NasdaqCM:CREX | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | -10.9% | -2.0% | 20.7% | -1.2% | 53.0% | | 10.0% | |
| 3Y CAGR | -5.2% | -8.2% | 8.7% | -0.3% | -7.2% | | 40.2% | |
| Latest Twelve Months | 5.0% | -14.7% | 9.1% | -8.6% | -7.0% | | 12.6% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 8.3% | 0.5% | 13.4% | 4.9% | 6.9% | | -8.2% | |
| Prior Fiscal Year | 25.5% | -2.6% | 0.8% | 2.5% | 2.8% | | 3.0% | |
| Latest Fiscal Year | 22.0% | -6.8% | 1.3% | 2.7% | -1.9% | | 1.8% | |
| Latest Twelve Months | 22.0% | -6.8% | 1.3% | 2.7% | -1.9% | | 1.8% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 4.92x | 0.29x | 1.06x | 0.48x | 1.97x | | 0.55x | |
| EV / LTM EBIT | 22.4x | -4.2x | 78.7x | 17.6x | -102.4x | | 29.9x | |
| Price / LTM Sales | 0.32x | 0.18x | 1.39x | 0.12x | 0.40x | | 0.30x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.29x | 1.06x | 4.92x | | | | | |
| Historical EV / LTM Revenue | 0.55x | 0.78x | 1.31x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.80x | 0.84x | 0.88x | | | | | |
| (x) LTM Revenue | 51 | 51 | 51 | | | | | |
| (=) Implied Enterprise Value | 41 | 43 | 45 | | | | | |
| (-) Non-shareholder Claims * | (13) | (13) | (13) | | | | | |
| (=) Equity Value | 28 | 30 | 32 | | | | | |
| (/) Shares Outstanding | 10.4 | 10.4 | 10.4 | | | | | |
| Implied Value Range | 2.66 | 2.86 | 3.07 | | | | | |
| FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 2.66 | 2.86 | 3.07 | | 1.45 | | | |
| Upside / (Downside) | 83.2% | 97.3% | 111.5% | | | | | |