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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Ps Multiple | 1.0x - 1.1x | 1.0x |
Selected Fwd Ps Multiple | 0.9x - 1.0x | 1.0x |
Fair Value | €20.87 - €23.06 | €21.97 |
Upside | 2.3% - 13.1% | 7.7% |
Benchmarks | Ticker | Full Ticker |
---|---|---|
IDEX Corporation | - | NYSE:IEX |
Nordson Corporation | - | NasdaqGS:NDSN |
ESAB Corporation | - | NYSE:ESAB |
AMETEK, Inc. | - | NYSE:AME |
Moog Inc. | - | NYSE:MOG.A |
Kennametal Inc. | - | DB:KM3 |
Select Price / LTM Sales Ratio | ||||||||
Benchmark Companies | ||||||||
IEX | NDSN | ESAB | AME | MOG.A | KM3 | |||
NYSE:IEX | NasdaqGS:NDSN | NYSE:ESAB | NYSE:AME | NYSE:MOG.A | DB:KM3 | |||
Historical Sales Growth | ||||||||
5Y CAGR | 5.6% | 4.2% | 4.1% | 6.1% | 4.4% | -2.9% | ||
3Y CAGR | 5.7% | 4.4% | 4.1% | 7.8% | 8.2% | 3.6% | ||
Latest Twelve Months | 1.7% | 2.0% | -1.8% | 3.0% | 4.5% | -2.9% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 16.9% | 17.5% | 8.8% | 18.9% | 4.3% | 4.7% | ||
Prior Fiscal Year | 18.2% | 18.5% | 7.8% | 19.9% | 5.2% | 5.7% | ||
Latest Fiscal Year | 15.4% | 17.4% | 10.4% | 19.8% | 5.7% | 5.3% | ||
Latest Twelve Months | 14.6% | 16.5% | 10.8% | 20.4% | 5.7% | 5.5% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | 17.0x | 18.3x | 15.9x | 20.3x | 15.2x | 7.7x | ||
Price / LTM Sales | 4.2x | 4.7x | 2.8x | 6.1x | 1.6x | 0.9x | ||
LTM P/E Ratio | 28.6x | 28.2x | 25.8x | 30.0x | 27.9x | 17.1x | ||
Low | Mid | High | ||||||
Benchmark LTM P/S Ratio | 1.6x | 4.2x | 6.1x | |||||
Historical LTM P/S Ratio | 0.9x | 1.1x | 1.8x | |||||
Selected Price / Sales Multiple | 1.0x | 1.0x | 1.1x | |||||
(x) LTM Sales | 1,994 | 1,994 | 1,994 | |||||
(=) Equity Value | 1,897 | 1,997 | 2,097 | |||||
(/) Shares Outstanding | 76.2 | 76.2 | 76.2 | |||||
Implied Value Range | 24.89 | 26.20 | 27.51 | |||||
FX Rate: USD/EUR | 1.2 | 1.2 | 1.2 | Market Price | ||||
Implied Value Range (Trading Cur) | 21.13 | 22.24 | 23.35 | 20.40 | ||||
Upside / (Downside) | 3.6% | 9.0% | 14.5% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | IEX | NDSN | ESAB | AME | MOG.A | KM3 | |
Value of Common Equity | 13,692 | 12,589 | 7,605 | 42,526 | 5,838 | 1,832 | |
(/) Shares Outstanding | 75.5 | 56.5 | 60.6 | 230.9 | 31.5 | 76.2 | |
Implied Stock Price | 181.25 | 222.78 | 125.45 | 184.19 | 185.16 | 24.03 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.18 | |
Implied Stock Price (Trading Cur) | 181.25 | 222.78 | 125.45 | 184.19 | 185.16 | 20.40 | |
Trading Currency | USD | USD | USD | USD | USD | EUR | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.18 |