| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| PSG | BAYN | MRK | 93M1 | BON | | DMP | |
| XTRA:PSG | XTRA:BAYN | XTRA:MRK | XTRA:93M1 | DB:BON | | DB:DMP | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 10.8% | 1.4% | 5.5% | -5.1% | -4.0% | | 14.5% | |
| 3Y CAGR | 16.9% | 1.9% | 2.4% | 116.7% | -1.3% | | 12.5% | |
| Latest Twelve Months | 16.9% | -2.2% | 0.8% | 284.9% | -6.9% | | 0.2% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 24.9% | 16.4% | 19.5% | 92.7% | 12.8% | | 21.7% | |
| Prior Fiscal Year | 20.7% | 16.4% | 17.6% | 96.8% | 12.1% | | 27.2% | |
| Latest Fiscal Year | 24.4% | 11.7% | 19.3% | 96.7% | 9.3% | | 16.8% | |
| Latest Twelve Months | 23.5% | 11.7% | 19.3% | 99.1% | 9.6% | | 18.3% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 2.89x | 1.15x | 3.00x | 0.83x | 0.78x | | 2.68x | |
| EV / LTM EBIT | 12.3x | 9.8x | 15.5x | 0.8x | 8.2x | | 14.7x | |
| Price / LTM Sales | 2.61x | 0.51x | 2.70x | 0.82x | 0.86x | | 1.90x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.78x | 1.15x | 3.00x | | | | | |
| Historical EV / LTM Revenue | 2.43x | 3.85x | 5.87x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 2.65x | 2.79x | 2.93x | | | | | |
| (x) LTM Revenue | 1,174 | 1,174 | 1,174 | | | | | |
| (=) Implied Enterprise Value | 3,113 | 3,277 | 3,441 | | | | | |
| (-) Non-shareholder Claims * | (889) | (889) | (889) | | | | | |
| (=) Equity Value | 2,225 | 2,388 | 2,552 | | | | | |
| (/) Shares Outstanding | 53.8 | 53.8 | 53.8 | | | | | |
| Implied Value Range | 41.32 | 44.36 | 47.41 | | | | | |
| FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 41.32 | 44.36 | 47.41 | | 41.05 | | | |
| Upside / (Downside) | 0.7% | 8.1% | 15.5% | | | | | |