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Metrics | Range | Conclusion |
---|---|---|
Selected LTM P/E Multiple | 42.6x - 47.1x | 44.9x |
Selected Fwd P/E Multiple | 10.2x - 11.2x | 10.7x |
Fair Value | €3.70 - €4.09 | €3.89 |
Upside | -24.2% - -16.2% | -20.2% |
Benchmarks | - | Full Ticker |
TETRA Technologies, Inc. | - | NYSE:TTI |
ProPetro Holding Corp. | - | NYSE:PUMP |
Expro Group Holdings N.V. | - | NYSE:XPRO |
Nine Energy Service, Inc. | - | NYSE:NINE |
Tidewater Inc. | - | NYSE:TDW |
Oil States International, Inc. | - | DB:OI2 |
- | - | - |
Select Price / LTM EPS Ratio | ||||||||
Benchmark Companies | ||||||||
TTI | PUMP | XPRO | NINE | TDW | OI2 | |||
NYSE:TTI | NYSE:PUMP | NYSE:XPRO | NYSE:NINE | NYSE:TDW | DB:OI2 | |||
Historical Net Income Growth | ||||||||
5Y CAGR | NM- | NM- | NM- | NM- | NM- | NM- | ||
3Y CAGR | NM- | NM- | NM- | NM- | NM- | NM- | ||
Latest Twelve Months | 473.2% | -292.9% | 448.2% | -17.4% | 32.1% | 281.1% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | -9.1% | -4.0% | -6.7% | -26.9% | -14.8% | -15.2% | ||
Prior Fiscal Year | 4.1% | 5.3% | -1.5% | -5.3% | 9.6% | 1.6% | ||
Latest Fiscal Year | 19.0% | -9.5% | 3.0% | -7.4% | 13.4% | -1.6% | ||
Latest Twelve Months | 19.3% | -10.6% | 4.0% | -7.1% | 13.0% | 0.8% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | 6.4x | 3.0x | 3.1x | 8.3x | 5.6x | 6.5x | ||
Price / LTM Sales | 0.7x | 0.5x | 0.6x | 0.1x | 1.6x | 0.5x | ||
LTM P/E Ratio | 3.9x | -4.3x | 14.2x | -1.2x | 12.6x | 66.5x | ||
Low | Mid | High | ||||||
Benchmark LTM P/E Ratio | -4.3x | 3.9x | 14.2x | |||||
Historical LTM P/E Ratio | -15.5x | -4.9x | 44.8x | |||||
Selected P/E Multiple | 42.6x | 44.9x | 47.1x | |||||
(x) LTM Net Income | 5 | 5 | 5 | |||||
(=) Equity Value | 220 | 232 | 243 | |||||
(/) Shares Outstanding | 61.9 | 61.9 | 61.9 | |||||
Implied Value Range | 3.56 | 3.74 | 3.93 | |||||
FX Rate: USD/EUR | 1.2 | 1.2 | 1.2 | Market Price | ||||
Implied Value Range (Trading Cur) | 3.06 | 3.22 | 3.39 | 4.88 | ||||
Upside / (Downside) | -37.2% | -33.9% | -30.6% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | TTI | PUMP | XPRO | NINE | TDW | OI2 | |
Value of Common Equity | 454 | 638 | 972 | 50 | 2,218 | 350 | |
(/) Shares Outstanding | 133.1 | 103.9 | 115.4 | 42.3 | 49.5 | 61.9 | |
Implied Stock Price | 3.41 | 6.14 | 8.42 | 1.17 | 44.82 | 5.66 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.16 | |
Implied Stock Price (Trading Cur) | 3.41 | 6.14 | 8.42 | 1.17 | 44.82 | 4.88 | |
Trading Currency | USD | USD | USD | USD | USD | EUR | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.16 |