נראה כי אירעה שגיאה במהלך טעינת העמוד הזה.
הצוות שלנו קיבל דיווח על כך, אבל אם הבעיה נמשכת, אנא צרו קשר באמצעות יישומון תמיכה במייל
| Metrics | Range | Conclusion |
|---|---|---|
| Selected LTM EBIT Multiple | 15.7x - 17.3x | 16.5x |
| Selected Fwd EBIT Multiple | 13.5x - 15.0x | 14.2x |
| Fair Value | €239.65 - €264.44 | €252.04 |
| Upside | 11.5% - 23.1% | 17.3% |
| Benchmarks | Ticker | Full Ticker |
| Information Services Group, Inc. | III | NasdaqGM:III |
| International Business Machines Corporation | IBM | NYSE:IBM |
| Infosys Limited | INFY | NYSE:INFY |
| Amdocs Limited | DOX | NasdaqGS:DOX |
| Cognizant Technology Solutions Corporation | CTSH | NasdaqGS:CTSH |
| Accenture plc | CSA | DB:CSA |
| - | - | - |
| Select LTM EBIT Multiple | |||||||
| Benchmark Companies | |||||||
| III | IBM | INFY | DOX | CTSH | CSA | ||
| NasdaqGM:III | NYSE:IBM | NYSE:INFY | NasdaqGS:DOX | NasdaqGS:CTSH | DB:CSA | ||
| Historical EBIT Growth | |||||||
| 5Y CAGR | -15.6% | 5.4% | 8.5% | 6.1% | 1.7% | 10.8% | |
| 3Y CAGR | -38.9% | 20.6% | 2.9% | 6.4% | 2.3% | 5.0% | |
| Latest Twelve Months | 500.6% | 96.6% | 6.7% | 5.4% | 9.4% | 8.9% | |
| Historical EBIT Profit Margin | |||||||
| 5 Year Average Margin | 6.6% | 13.3% | 22.1% | 15.0% | 15.2% | 15.5% | |
| Prior Fiscal Year | 5.1% | 16.0% | 20.7% | 15.2% | 15.2% | 15.4% | |
| Latest Fiscal Year | 2.3% | 15.6% | 21.2% | 17.7% | 15.3% | 15.6% | |
| Latest Twelve Months | 5.4% | 21.8% | 21.1% | 17.7% | 15.7% | 15.6% | |
| Current Trading Multiples | |||||||
| EV / LTM Revenue | 1.23x | 5.13x | 3.43x | 1.97x | 1.73x | 2.17x | |
| EV / LTM EBITDA | 16.9x | 18.9x | 15.0x | 8.9x | 9.5x | 12.4x | |
| EV / LTM EBIT | 22.9x | 23.5x | 16.2x | 11.1x | 11.0x | 14.0x | |
| Low | Mid | High | |||||
| Benchmark EV / LTM EBIT | 11.0x | 16.2x | 23.5x | ||||
| Historical EV / LTM EBIT | 14.0x | 19.9x | 28.8x | ||||
| Selected EV / LTM EBIT | 15.7x | 16.5x | 17.3x | ||||
| (x) LTM EBIT | 10,854 | 10,854 | 10,854 | ||||
| (=) Implied Enterprise Value | 170,128 | 179,082 | 188,036 | ||||
| (-) Non-shareholder Claims * | 2,978 | 2,978 | 2,978 | ||||
| (=) Equity Value | 173,105 | 182,059 | 191,014 | ||||
| (/) Shares Outstanding | 620.1 | 620.1 | 620.1 | ||||
| Implied Value Range | 279.14 | 293.58 | 308.02 | ||||
| FX Rate: USD/EUR | 1.2 | 1.2 | 1.2 | Market Price | |||
| Implied Value Range (Trading Cur) | 240.67 | 253.12 | 265.57 | 214.90 | |||
| Upside / (Downside) | 12.0% | 17.8% | 23.6% | ||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | III | IBM | INFY | DOX | CTSH | CSA | |
| Enterprise Value | 296 | 333,772 | 67,024 | 8,908 | 35,897 | 151,590 | |
| (+) Cash & Short Term Investments | 29 | 14,855 | 5,005 | 325 | 2,354 | 11,485 | |
| (+) Investments & Other | 0 | 1,448 | 1,225 | 0 | 107 | 721 | |
| (-) Debt | (69) | (66,569) | (986) | (826) | (1,170) | (8,183) | |
| (-) Other Liabilities | 0 | (85) | (53) | (41) | 0 | (1,046) | |
| (-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 256 | 283,421 | 72,215 | 8,365 | 37,188 | 154,567 | |
| (/) Shares Outstanding | 47.9 | 934.7 | 4,145.5 | 110.0 | 482.6 | 620.1 | |
| Implied Stock Price | 5.35 | 303.21 | 17.42 | 76.05 | 77.05 | 249.25 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.16 | |
| Implied Stock Price (Trading Cur) | 5.35 | 303.21 | 17.42 | 76.05 | 77.05 | 214.90 | |
| Trading Currency | USD | USD | USD | USD | USD | EUR | |
| FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.16 | |