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Metrics | Range | Conclusion |
---|---|---|
Selected LTM P/E Multiple | 29.4x - 32.5x | 31.0x |
Selected Fwd P/E Multiple | 22.7x - 25.1x | 23.9x |
Fair Value | €61.34 - €67.80 | €64.57 |
Upside | -18.1% - -9.5% | -13.8% |
Benchmarks | - | Full Ticker |
Lam Research Corporation | - | NasdaqGS:LRCX |
Teradyne, Inc. | - | NasdaqGS:TER |
Applied Materials, Inc. | - | NasdaqGS:AMAT |
Kulicke and Soffa Industries, Inc. | - | NasdaqGS:KLIC |
MKS Inc. | - | NasdaqGS:MKSI |
Entegris, Inc. | - | DB:ENQ |
- | - | - |
Select Price / LTM EPS Ratio | ||||||||
Benchmark Companies | ||||||||
LRCX | TER | AMAT | KLIC | MKSI | ENQ | |||
NasdaqGS:LRCX | NasdaqGS:TER | NasdaqGS:AMAT | NasdaqGS:KLIC | NasdaqGS:MKSI | DB:ENQ | |||
Historical Net Income Growth | ||||||||
5Y CAGR | 11.8% | 3.0% | 21.5% | NM- | 6.2% | 2.8% | ||
3Y CAGR | -0.7% | -18.8% | 6.8% | NM- | -29.9% | -10.6% | ||
Latest Twelve Months | 29.0% | 34.4% | -7.5% | 132.6% | 112.7% | -1.2% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 25.9% | 22.2% | 24.8% | 12.6% | -0.1% | 10.9% | ||
Prior Fiscal Year | 25.9% | 16.8% | 25.9% | 7.7% | -50.8% | 5.1% | ||
Latest Fiscal Year | 25.7% | 19.2% | 26.4% | -9.8% | 5.3% | 9.0% | ||
Latest Twelve Months | 27.2% | 19.9% | 24.1% | 3.1% | 6.2% | 9.6% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | 22.8x | 19.9x | 17.7x | 12.6x | 12.7x | 18.5x | ||
Price / LTM Sales | 7.6x | 5.4x | 5.7x | 2.8x | 2.0x | 4.1x | ||
LTM P/E Ratio | 27.9x | 27.0x | 23.5x | 89.0x | 31.5x | 42.7x | ||
Low | Mid | High | ||||||
Benchmark LTM P/E Ratio | 23.5x | 27.9x | 89.0x | |||||
Historical LTM P/E Ratio | 36.2x | 49.7x | 89.9x | |||||
Selected P/E Multiple | 29.4x | 31.0x | 32.5x | |||||
(x) LTM Net Income | 310 | 310 | 310 | |||||
(=) Equity Value | 9,138 | 9,619 | 10,100 | |||||
(/) Shares Outstanding | 151.4 | 151.4 | 151.4 | |||||
Implied Value Range | 60.36 | 63.54 | 66.71 | |||||
FX Rate: USD/EUR | 1.2 | 1.2 | 1.2 | Market Price | ||||
Implied Value Range (Trading Cur) | 51.64 | 54.36 | 57.08 | 74.88 | ||||
Upside / (Downside) | -31.0% | -27.4% | -23.8% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | LRCX | TER | AMAT | KLIC | MKSI | ENQ | |
Value of Common Equity | 130,125 | 15,569 | 158,838 | 1,913 | 7,140 | 13,250 | |
(/) Shares Outstanding | 1,279.1 | 160.4 | 802.5 | 52.8 | 67.1 | 151.4 | |
Implied Stock Price | 101.73 | 97.05 | 197.93 | 36.26 | 106.45 | 87.52 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.17 | |
Implied Stock Price (Trading Cur) | 101.73 | 97.05 | 197.93 | 36.26 | 106.45 | 74.88 | |
Trading Currency | USD | USD | USD | USD | USD | EUR | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.17 |