Looks like there`s been an error while trying to load this page.
Our team has been notified but please contact us using the email support widget if the problem persists.
| Metrics | Range | Conclusion |
|---|---|---|
| Selected LTM EBITDA Multiple | 8.9x - 9.9x | 9.4x |
| Selected Fwd EBITDA Multiple | 5.2x - 5.8x | 5.5x |
| Fair Value | €54.70 - €61.83 | €58.26 |
| Upside | 12.3% - 27.0% | 19.6% |
| Benchmarks | Ticker | Full Ticker |
| Nagarro SE | NA9 | XTRA:NA9 |
| Allgeier SE | AEIN | XTRA:AEIN |
| audius SE | 3ITN | XTRA:3ITN |
| Bechtle AG | BC8 | XTRA:BC8 |
| ORBIS AG | OBS | XTRA:OBS |
| All for One Group SE | A1OS | DB:A1OS |
| - | - | - |
| Select LTM EBITDA Multiple | |||||||
| Benchmark Companies | |||||||
| NA9 | AEIN | 3ITN | BC8 | OBS | A1OS | ||
| XTRA:NA9 | XTRA:AEIN | XTRA:3ITN | XTRA:BC8 | XTRA:OBS | DB:A1OS | ||
| Historical EBITDA Growth | |||||||
| 5Y CAGR | 22.9% | 48.8% | 41.7% | 8.0% | 10.8% | 6.9% | |
| 3Y CAGR | 28.1% | -3.9% | 1.7% | 4.2% | 7.9% | 10.5% | |
| Latest Twelve Months | 5.6% | -28.4% | -6.1% | -12.0% | -1.3% | 9.7% | |
| Historical EBITDA Profit Margin | |||||||
| 5 Year Average Margin | 11.8% | 7.0% | 9.3% | 6.7% | 5.6% | 7.5% | |
| Prior Fiscal Year | 11.0% | 8.1% | 9.6% | 6.8% | 5.4% | 6.5% | |
| Latest Fiscal Year | 11.6% | 6.4% | 8.4% | 6.6% | 5.3% | 7.7% | |
| Latest Twelve Months | 11.2% | 6.1% | 8.4% | 6.3% | 5.3% | 6.9% | |
| Current Trading Multiples | |||||||
| EV / LTM Revenue | 0.90x | 0.89x | 0.71x | 0.71x | 0.37x | 0.58x | |
| EV / LTM EBITDA | 8.0x | 14.6x | 8.5x | 11.4x | 7.0x | 8.3x | |
| EV / LTM EBIT | 9.0x | 21.8x | 12.1x | 13.8x | 10.3x | 12.6x | |
| Low | Mid | High | |||||
| Benchmark EV / LTM EBITDA | 7.0x | 8.5x | 14.6x | ||||
| Historical EV / LTM EBITDA | 7.5x | 8.4x | 12.4x | ||||
| Selected EV / LTM EBITDA | 8.9x | 9.4x | 9.9x | ||||
| (x) LTM EBITDA | 36 | 36 | 36 | ||||
| (=) Implied Enterprise Value | 317 | 334 | 351 | ||||
| (-) Non-shareholder Claims * | (63) | (63) | (63) | ||||
| (=) Equity Value | 254 | 271 | 288 | ||||
| (/) Shares Outstanding | 4.8 | 4.8 | 4.8 | ||||
| Implied Value Range | 52.75 | 56.21 | 59.67 | ||||
| FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | Market Price | |||
| Implied Value Range (Trading Cur) | 52.75 | 56.21 | 59.67 | 48.70 | |||
| Upside / (Downside) | 8.3% | 15.4% | 22.5% | ||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | NA9 | AEIN | 3ITN | BC8 | OBS | A1OS | |
| Enterprise Value | 882 | 402 | 61 | 4,471 | 49 | 298 | |
| (+) Cash & Short Term Investments | 162 | 40 | 11 | 616 | 18 | 52 | |
| (+) Investments & Other | 0 | 0 | 0 | 0 | 2 | 0 | |
| (-) Debt | (369) | (178) | (3) | (730) | (9) | (114) | |
| (-) Other Liabilities | 0 | (55) | (2) | (3) | (7) | (0) | |
| (-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 675 | 209 | 67 | 4,355 | 53 | 235 | |
| (/) Shares Outstanding | 12.6 | 11.5 | 4.9 | 126.0 | 9.5 | 4.8 | |
| Implied Stock Price | 53.45 | 18.20 | 13.70 | 34.56 | 5.55 | 48.70 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 53.45 | 18.20 | 13.70 | 34.56 | 5.55 | 48.70 | |
| 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 | |