| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| CMC | STLD | RDUS | RS | FSUM.F | | X | |
| NYSE:CMC | NasdaqGS:STLD | NasdaqGS:RDUS | NYSE:RS | OTCPK:FSUM.F | | NYSE:X | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 6.3% | 10.9% | 5.1% | 4.7% | 12.8% | | 3.9% | |
| 3Y CAGR | 5.6% | -1.6% | -0.2% | -0.6% | -6.5% | | -8.3% | |
| Latest Twelve Months | -7.9% | -6.7% | -7.9% | -6.6% | -11.9% | | -13.4% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 10.8% | 16.7% | 2.6% | 11.6% | 53.3% | | 7.7% | |
| Prior Fiscal Year | 13.3% | 16.8% | 0.0% | 11.8% | 47.5% | | 5.6% | |
| Latest Fiscal Year | 8.8% | 11.1% | -3.1% | 8.6% | 46.8% | | 1.8% | |
| Latest Twelve Months | 6.6% | 11.1% | -3.0% | 8.6% | 36.3% | | 1.8% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.77x | 1.25x | 0.51x | 1.21x | 2.03x | | 0.77x | |
| EV / LTM EBIT | 11.7x | 11.2x | -16.8x | 14.1x | 5.6x | | 41.7x | |
| Price / LTM Sales | 0.71x | 1.10x | 0.30x | 1.13x | 1.92x | | 0.62x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.51x | 1.21x | 2.03x | | | | | |
| Historical EV / LTM Revenue | 0.26x | 0.60x | 0.77x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.54x | 0.57x | 0.59x | | | | | |
| (x) LTM Revenue | 15,640 | 15,640 | 15,640 | | | | | |
| (=) Implied Enterprise Value | 8,399 | 8,841 | 9,284 | | | | | |
| (-) Non-shareholder Claims * | (2,242) | (2,242) | (2,242) | | | | | |
| (=) Equity Value | 6,157 | 6,599 | 7,042 | | | | | |
| (/) Shares Outstanding | 226.4 | 226.4 | 226.4 | | | | | |
| Implied Value Range | 27.20 | 29.15 | 31.10 | | | | | |
| FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 27.20 | 29.15 | 31.10 | | 42.96 | | | |
| Upside / (Downside) | -36.7% | -32.1% | -27.6% | | | | | |