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 |
|---|---|---|
| Discount Rate | 9.8% - 8.8% | 9.3% |
| Terminal EBITDA Multiple | 7.6x - 9.6x | 8.6x |
| Fair Value | €17.34 - €21.77 | €19.51 |
| Upside | 35.2% - 69.8% | 52.2% |
| Select Revenue and EBITDA Forecast | ||||||
| (EUR in millions) | Input Projections | |||||
| Fiscal Years Ending | Dec-24 | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 |
| Revenue | 270 | 264 | 286 | 319 | 359 | 391 |
| % Growth | 2.5% | -2.2% | 8.3% | 11.4% | 12.7% | 8.8% |
| EBITDA | 45 | 37 | 47 | 55 | 54 | 60 |
| % of Revenue | 16.8% | 14.1% | 16.5% | 17.3% | 15.2% | 15.3% |
| Calculation of Free Cash Flow | ||||||
| Projected Unlevered Cash Flow | ||||||
| (EUR in millions) | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 | |
| EBITDA | 37 | 47 | 55 | 54 | 60 | |
| Other Income / (Exp) | 0 | 0 | 0 | 0 | 0 | |
| D&A | (10) | (8) | (8) | (3) | (4) | |
| EBIT | 27 | 39 | 47 | 51 | 56 | |
| Pro forma Taxes | (8) | (11) | (14) | (15) | (16) | |
| NOPAT | 28 | 19 | 28 | 33 | 36 | 39 |
| Capital Expenditures | (24) | (30) | (12) | (9) | (10) | (11) |
| NWC Investment | (2) | 2 | (6) | (9) | (11) | (8) |
| (+) D&A | 6 | 10 | 8 | 8 | 3 | 4 |
| Free Cash Flow | 8 | 1 | 18 | 24 | 19 | 24 |
| % Growth | -88% | 1771% | 32% | -21% | 29% | |