| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| SEOF.F | PKG | IP | MNOD.F | POEL.F | | 88L | |
| OTCPK:SEOF.F | NYSE:PKG | NYSE:IP | OTCPK:MNOD.F | OTCPK:POEL.F | | MUN:88L | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | -2.1% | 3.8% | 0.3% | 0.4% | 4.3% | | -1.2% | |
| 3Y CAGR | -3.8% | 2.7% | -1.3% | 2.1% | 9.3% | | 10.1% | |
| Latest Twelve Months | -3.7% | 7.4% | -1.6% | 1.2% | 5.9% | | 1.4% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 7.8% | 15.1% | 7.8% | 11.4% | 16.3% | | 11.4% | |
| Prior Fiscal Year | 0.4% | 14.4% | 6.2% | 7.3% | 18.8% | | 11.2% | |
| Latest Fiscal Year | 3.6% | 13.8% | 5.2% | 7.3% | 18.2% | | 11.8% | |
| Latest Twelve Months | 3.6% | 13.8% | 5.2% | 7.3% | 18.2% | | 11.8% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 1.04x | 2.30x | 1.71x | 1.15x | 1.45x | | 0.88x | |
| EV / LTM EBIT | 28.5x | 16.6x | 33.1x | 15.8x | 8.0x | | 7.5x | |
| Price / LTM Sales | 0.81x | 2.07x | 1.45x | 0.86x | 1.11x | | 0.70x | |
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| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 1.04x | 1.45x | 2.30x | | | | | |
| Historical EV / LTM Revenue | 0.78x | 0.91x | 0.93x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.81x | 0.85x | 0.89x | | | | | |
| (x) LTM Revenue | 3,773 | 3,773 | 3,773 | | | | | |
| (=) Implied Enterprise Value | 3,048 | 3,209 | 3,369 | | | | | |
| (-) Non-shareholder Claims * | (663) | (663) | (663) | | | | | |
| (=) Equity Value | 2,385 | 2,546 | 2,706 | | | | | |
| (/) Shares Outstanding | 68.9 | 68.9 | 68.9 | | | | | |
| Implied Value Range | 34.61 | 36.94 | 39.27 | | | | | |
| FX Rate: USD/EUR | 1.1 | 1.1 | 1.1 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 31.99 | 34.14 | 36.29 | | 76.54 | | | |
| Upside / (Downside) | -58.2% | -55.4% | -52.6% | | | | | |