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 Revenue Multiple | 1.1x - 1.2x | 1.1x |
Selected Fwd Revenue Multiple | 1.0x - 1.1x | 1.1x |
Fair Value | €27.69 - €33.86 | €30.78 |
Upside | 7.8% - 31.8% | 19.8% |
Benchmarks | Ticker | Full Ticker |
---|---|---|
NORMA Group SE | NOEJ | XTRA:NOEJ |
LEWAG Holding Aktiengesellschaft | KGR | DB:KGR |
DEUTZ Aktiengesellschaft | DEZ | XTRA:DEZ |
Traton SE | 8TRA | XTRA:8TRA |
KION GROUP AG | KGX | XTRA:KGX |
Stabilus SE | STM | DB:STM |
Select LTM Revenue Multiple | ||||||||
Benchmark Companies | ||||||||
NOEJ | KGR | DEZ | 8TRA | KGX | STM | |||
XTRA:NOEJ | DB:KGR | XTRA:DEZ | XTRA:8TRA | XTRA:KGX | DB:STM | |||
Historical Revenue Growth | ||||||||
5Y CAGR | 1.0% | 6.3% | -0.3% | 12.0% | 5.5% | 6.5% | ||
3Y CAGR | 2.0% | 11.1% | 3.9% | 15.7% | 3.8% | 11.7% | ||
Latest Twelve Months | -6.8% | -5.7% | -8.1% | -2.5% | -0.7% | 9.6% | ||
Historical EBIT Profit Margin | ||||||||
5 Year Average Margin | 6.6% | 1.4% | 2.3% | 5.9% | 5.0% | 11.3% | ||
Prior Fiscal Year | 6.2% | 4.0% | 6.4% | 8.9% | 5.4% | 11.6% | ||
Latest Fiscal Year | 4.8% | 3.8% | 1.9% | 9.5% | 6.7% | 9.7% | ||
Latest Twelve Months | 3.7% | 3.8% | 0.3% | 8.8% | 4.6% | 8.6% | ||
Current Trading Multiples | ||||||||
EV / LTM Revenue | 0.75x | 1.33x | 0.69x | 0.76x | 1.23x | 1.03x | ||
EV / LTM EBIT | 20.0x | 35.4x | 234.7x | 8.6x | 26.8x | 12.1x | ||
Price / LTM Sales | 0.45x | 1.18x | 0.60x | 0.32x | 0.62x | 0.46x | ||
Low | Mid | High | ||||||
Benchmark EV / LTM Revenue | 0.69x | 0.76x | 1.33x | |||||
Historical EV / LTM Revenue | 1.14x | 1.29x | 1.76x | |||||
Selected EV / LTM Revenue | 1.07x | 1.13x | 1.18x | |||||
(x) LTM Revenue | 1,351 | 1,351 | 1,351 | |||||
(=) Implied Enterprise Value | 1,447 | 1,523 | 1,599 | |||||
(-) Non-shareholder Claims * | (763) | (763) | (763) | |||||
(=) Equity Value | 684 | 761 | 837 | |||||
(/) Shares Outstanding | 24.7 | 24.7 | 24.7 | |||||
Implied Value Range | 27.71 | 30.79 | 33.88 | |||||
FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | Market Price | ||||
Implied Value Range (Trading Cur) | 27.71 | 30.79 | 33.88 | 25.70 | ||||
Upside / (Downside) | 7.8% | 19.8% | 31.8% |
Equity Waterfall | |||||||
Benchmark Companies | |||||||
(in millions) | NOEJ | KGR | DEZ | 8TRA | KGX | STM | |
Enterprise Value | 854 | 168 | 1,267 | 35,028 | 14,003 | 1,397 | |
(+) Cash & Short Term Investments | 108 | 8 | 86 | 2,343 | 750 | 95 | |
(+) Investments & Other | 0 | 0 | 45 | 1,891 | 111 | 6 | |
(-) Debt | (446) | (27) | (296) | (24,276) | (7,778) | (833) | |
(-) Other Liabilities | (0) | (0) | 0 | (6) | (18) | (31) | |
(-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
(-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
Value of Common Equity | 516 | 149 | 1,101 | 14,980 | 7,068 | 635 | |
(/) Shares Outstanding | 31.9 | 4.8 | 138.8 | 500.0 | 131.1 | 24.7 | |
Implied Stock Price | 16.20 | 31.40 | 7.94 | 29.96 | 53.90 | 25.70 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 16.20 | 31.40 | 7.94 | 29.96 | 53.90 | 25.70 | |
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 |