Tel Aviv Stock Exchange

주가

42.81 ILS

적정가치

34.68 ILS


Benchmarks	-	Full Ticker
Bursa Malaysia Berhad	-	KLSE:BURSA
London Stock Exchange Group plc	-	LSE:LSEG
B3 S.A. - Brasil, Bolsa, Balcão	-	BOVESPA:B3SA3
Deutsche Börse AG	-	OTCPK:DBOE.F
JSE Limited	-	JSE:JSE
The Tel-Aviv Stock Exchange Ltd.	-	TASE:TASE
-	-	-

Multiples Valuation: Price / EPS

주가

42.81 ILS

적정가치

34.68 ILS

상승 여력 있음

-20.5%

Price / LTM EPS Multiple

Price / Fwd EPS Multiple

Fair Value

Benchmark Editor


Select Price / LTM EPS Ratio

	Benchmark Companies
	BURSA	LSEG	B3SA3	DBOE.F	JSE	TASE
	KLSE:BURSA	LSE:LSEG	BOVESPA:B3SA3	OTCPK:DBOE.F	JSE:JSE	TASE:TASE
Historical Net Income Growth
5Y CAGR	10.8%	10.4%	11.0%	14.2%	5.6%	42.0%
3Y CAGR	-4.4%	14.1%	-1.0%	17.2%	8.3%	30.6%
Latest Twelve Months	22.9%	-10.0%	10.8%	13.0%	10.4%	21.9%

Historical Net Income Profit Margin
5 Year Average Margin	42.3%	23.7%	48.1%	30.3%	29.7%	15.8%
Prior Fiscal Year	41.1%	9.1%	46.3%	34.2%	29.5%	21.3%
Latest Fiscal Year	39.7%	7.7%	48.1%	33.6%	30.7%	23.2%
Latest Twelve Months	39.7%	7.7%	48.1%	33.6%	30.7%	23.2%

Current Trading Multiples
EV / LTM EBITDA	12.8x	22.4x	9.7x	18.1x	6.9x	23.6x
Price / LTM Sales	8.1x	6.8x	6.7x	8.6x	3.4x	9.1x
LTM P/E Ratio	20.3x	88.5x	14.0x	25.7x	11.0x	39.3x


	Low	Mid	High

Benchmark LTM P/E Ratio	11.0x	20.3x	88.5x
Historical LTM P/E Ratio	23.4x	39.8x	58.1x

Selected P/E Multiple	31.8x	33.5x	35.2x
(x) LTM Net Income	101	101	101
(=) Equity Value	3,228	3,398	3,568
(/) Shares Outstanding	91.2	91.2	91.2
Implied Value Range	35.38	37.24	39.10
FX Rate: ILS/ILS	1.0	1.0	1.0		Market Price
Implied Value Range (Trading Cur)	35.38	37.24	39.10		43.64
Upside / (Downside)	-18.9%	-14.7%	-10.4%

지원하는 계산법

Equity Waterfall

Financials

Historical Multiples


Equity Value

	Benchmark Companies
(in millions)	BURSA	LSEG	B3SA3	DBOE.F	JSE	TASE

Value of Common Equity	6,304	61,276	63,920	48,826	10,077	3,982
(/) Shares Outstanding	809.3	534.7	5,265.2	183.8	81.3	91.2
Implied Stock Price	7.79	114.60	12.14	265.68	123.89	43.64
FX Conversion Rate to Trading Currency	1.00	1.00	1.00	0.93	1.00	1.00
Implied Stock Price (Trading Cur)	7.79	114.60	12.14	286.97	123.89	43.64

Trading Currency	MYR	GBP	BRL	USD	ZAR	ILS
FX Rate to Reporting Currency	1.00	1.00	1.00	0.93	1.00	1.00

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