| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| METSA | ELO | MYM | INP | BP0 | | HOYF.F | |
| HLSE:METSA | OB:ELO | DB:MYM | DB:INP | DB:BP0 | | OTCPK:HOYF.F | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 0.1% | 5.0% | 9.9% | 0.3% | 6.7% | | 4.0% | |
| 3Y CAGR | -2.4% | 10.6% | 9.9% | -1.3% | -4.0% | | 4.9% | |
| Latest Twelve Months | -0.2% | 2.2% | -2.0% | -1.6% | 3.1% | | -1.0% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 7.9% | 7.1% | 7.9% | 7.8% | 9.6% | | 8.3% | |
| Prior Fiscal Year | 1.8% | 9.2% | 4.0% | 6.2% | 9.3% | | 8.1% | |
| Latest Fiscal Year | 2.4% | 8.8% | 4.7% | 5.2% | 9.2% | | 8.5% | |
| Latest Twelve Months | 2.4% | 8.8% | 4.7% | 5.2% | 9.2% | | 8.5% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.59x | 1.13x | 0.74x | 1.83x | 1.27x | | 1.18x | |
| EV / LTM EBIT | 24.8x | 12.8x | 15.9x | 35.3x | 13.8x | | 13.9x | |
| Price / LTM Sales | 0.70x | 0.79x | 0.40x | 1.57x | 0.65x | | 0.86x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.59x | 1.13x | 1.83x | | | | | |
| Historical EV / LTM Revenue | 1.14x | 1.24x | 1.64x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 1.19x | 1.26x | 1.32x | | | | | |
| (x) LTM Revenue | 4,126 | 4,126 | 4,126 | | | | | |
| (=) Implied Enterprise Value | 4,927 | 5,187 | 5,446 | | | | | |
| (-) Non-shareholder Claims * | (1,329) | (1,329) | (1,329) | | | | | |
| (=) Equity Value | 3,599 | 3,858 | 4,117 | | | | | |
| (/) Shares Outstanding | 104.8 | 104.8 | 104.8 | | | | | |
| Implied Value Range | 34.35 | 36.83 | 39.30 | | | | | |
| FX Rate: EUR/USD | 0.9 | 0.9 | 0.9 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 37.09 | 39.76 | 42.43 | | 39.14 | | | |
| Upside / (Downside) | -5.3% | 1.6% | 8.4% | | | | | |