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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Revenue Multiple | 0.5x - 0.5x | 0.5x |
Selected Fwd Revenue Multiple | 1.0x - 1.1x | 1.0x |
Fair Value | €2.26 - €2.52 | €2.39 |
Upside | 55.5% - 74.0% | 64.7% |
Benchmarks | Ticker | Full Ticker |
---|---|---|
Groupe MEDIA 6 | EDI | ENXTPA:EDI |
Bilendi SA | ALBLD | ENXTPA:ALBLD |
Qwamplify | ALQWA | ENXTPA:ALQWA |
AdUX SA | ALDUX | ENXTPA:ALDUX |
JCDecaux SE | DEC | ENXTPA:DEC |
NetMedia Group société anonyme | ALNMG | ENXTPA:ALNMG |
Select LTM Revenue Multiple | ||||||||
Benchmark Companies | ||||||||
EDI | ALBLD | ALQWA | ALDUX | DEC | ALNMG | |||
ENXTPA:EDI | ENXTPA:ALBLD | ENXTPA:ALQWA | ENXTPA:ALDUX | ENXTPA:DEC | ENXTPA:ALNMG | |||
Historical Revenue Growth | ||||||||
5Y CAGR | 2.7% | 16.5% | 6.3% | -3.4% | 0.8% | 5.4% | ||
3Y CAGR | 10.2% | 22.5% | 8.1% | 7.2% | 12.9% | 33.2% | ||
Latest Twelve Months | -10.7% | 3.4% | 0.7% | 3.8% | 10.2% | 26.7% | ||
Historical EBIT Profit Margin | ||||||||
5 Year Average Margin | 1.5% | 10.2% | 12.5% | 1.2% | 4.4% | -14.6% | ||
Prior Fiscal Year | 5.7% | 10.1% | 11.8% | 7.5% | 11.8% | -14.8% | ||
Latest Fiscal Year | 0.7% | 7.7% | 7.2% | 11.1% | 11.0% | -8.3% | ||
Latest Twelve Months | 0.7% | 10.6% | 8.6% | 12.6% | 11.0% | 0.8% | ||
Current Trading Multiples | ||||||||
EV / LTM Revenue | 0.41x | 1.46x | 0.12x | 0.72x | 1.71x | 0.33x | ||
EV / LTM EBIT | 57.4x | 13.7x | 1.4x | 5.7x | 15.5x | 40.0x | ||
Price / LTM Sales | 0.29x | 1.47x | 0.37x | 0.47x | 0.92x | 0.28x | ||
Low | Mid | High | ||||||
Benchmark EV / LTM Revenue | 0.12x | 0.72x | 1.71x | |||||
Historical EV / LTM Revenue | 0.57x | 0.80x | 0.92x | |||||
Selected EV / LTM Revenue | 0.48x | 0.51x | 0.54x | |||||
(x) LTM Revenue | 21 | 21 | 21 | |||||
(=) Implied Enterprise Value | 10 | 11 | 11 | |||||
(-) Non-shareholder Claims * | (1) | (1) | (1) | |||||
(=) Equity Value | 9 | 9 | 10 | |||||
(/) Shares Outstanding | 4.0 | 4.0 | 4.0 | |||||
Implied Value Range | 2.23 | 2.36 | 2.50 | |||||
FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | Market Price | ||||
Implied Value Range (Trading Cur) | 2.23 | 2.36 | 2.50 | 1.45 | ||||
Upside / (Downside) | 53.7% | 62.9% | 72.0% |
Equity Waterfall | |||||||
Benchmark Companies | |||||||
(in millions) | EDI | ALBLD | ALQWA | ALDUX | DEC | ALNMG | |
Enterprise Value | 36 | 93 | 4 | 17 | 6,215 | 7 | |
(+) Cash & Short Term Investments | 3 | 13 | 12 | 1 | 1,278 | 2 | |
(+) Investments & Other | 0 | 0 | 0 | 0 | 431 | 1 | |
(-) Debt | (13) | (13) | (3) | (7) | (4,450) | (5) | |
(-) Other Liabilities | 0 | (0) | 0 | 0 | (116) | (0) | |
(-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
(-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
Value of Common Equity | 25 | 94 | 12 | 11 | 3,359 | 6 | |
(/) Shares Outstanding | 2.4 | 4.6 | 5.7 | 6.2 | 214.0 | 4.0 | |
Implied Stock Price | 10.70 | 20.40 | 2.20 | 1.78 | 15.70 | 1.45 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 10.70 | 20.40 | 2.20 | 1.78 | 15.70 | 1.45 | |
Trading Currency | EUR | EUR | EUR | EUR | EUR | EUR | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |