| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| VFC | FIGS | RCKY | MOV | PVH | | SGC | |
| NYSE:VFC | NYSE:FIGS | NasdaqGS:RCKY | NYSE:MOV | NYSE:PVH | | NasdaqGM:SGC | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 0.4% | 38.1% | 10.9% | -0.2% | -0.9% | | 8.5% | |
| 3Y CAGR | 4.2% | 9.8% | -4.1% | 9.9% | 8.9% | | 1.8% | |
| Latest Twelve Months | -2.5% | 1.8% | -1.7% | -4.2% | -4.8% | | 4.1% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 9.3% | 6.9% | 8.8% | 10.1% | 7.5% | | 5.6% | |
| Prior Fiscal Year | 9.1% | 6.2% | 7.7% | 16.1% | 10.0% | | 3.6% | |
| Latest Fiscal Year | 6.0% | 0.4% | 7.7% | 8.1% | 10.1% | | 3.7% | |
| Latest Twelve Months | 5.4% | 0.4% | 7.7% | 4.4% | 9.9% | | 3.7% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 1.03x | 0.98x | 0.58x | 0.46x | 0.75x | | 0.47x | |
| EV / LTM EBIT | 19.0x | 239.9x | 7.5x | 10.3x | 7.6x | | 12.5x | |
| Price / LTM Sales | 0.60x | 1.37x | 0.29x | 0.58x | 0.41x | | 0.32x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.46x | 0.75x | 1.03x | | | | | |
| Historical EV / LTM Revenue | 0.47x | 0.60x | 0.88x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.60x | 0.63x | 0.66x | | | | | |
| (x) LTM Revenue | 566 | 566 | 566 | | | | | |
| (=) Implied Enterprise Value | 340 | 358 | 376 | | | | | |
| (-) Non-shareholder Claims * | (82) | (82) | (82) | | | | | |
| (=) Equity Value | 258 | 276 | 293 | | | | | |
| (/) Shares Outstanding | 16.5 | 16.5 | 16.5 | | | | | |
| Implied Value Range | 15.64 | 16.72 | 17.81 | | | | | |
| FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 15.64 | 16.72 | 17.81 | | 11.02 | | | |
| Upside / (Downside) | 41.9% | 51.7% | 61.6% | | | | | |