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 EBIT Multiple | 11.6x - 12.9x | 12.2x |
| Selected Fwd EBIT Multiple | 10.4x - 11.5x | 10.9x |
| Fair Value | €73.90 - €81.87 | €77.89 |
| Upside | 13.4% - 25.7% | 19.5% |
| Benchmarks | Ticker | Full Ticker |
| Fluidra, S.A. | FDR | BME:FDR |
| Alfa Laval AB (publ) | ALFA | OM:ALFA |
| Fujitec Co., Ltd. | FJC | DB:FJC |
| Valmet Oyj | VALMT | HLSE:VALMT |
| Schneider Electric S.E. | SU | ENXTPA:SU |
| Konecranes Plc | KCR | HLSE:KCR |
| - | - | - |
| Select LTM EBIT Multiple | |||||||
| Benchmark Companies | |||||||
| FDR | ALFA | FJC | VALMT | SU | KCR | ||
| BME:FDR | OM:ALFA | DB:FJC | HLSE:VALMT | ENXTPA:SU | HLSE:KCR | ||
| Historical EBIT Growth | |||||||
| 5Y CAGR | 26.4% | 8.5% | 7.1% | 12.8% | 10.3% | 28.4% | |
| 3Y CAGR | -12.1% | 19.1% | 3.1% | 8.2% | 12.9% | 30.6% | |
| Latest Twelve Months | 19.5% | 19.2% | 18.8% | 2.0% | 9.8% | 28.1% | |
| Historical EBIT Profit Margin | |||||||
| 5 Year Average Margin | 13.0% | 14.9% | 6.9% | 9.2% | 15.9% | 8.5% | |
| Prior Fiscal Year | 11.2% | 14.6% | 5.3% | 9.2% | 16.6% | 10.2% | |
| Latest Fiscal Year | 12.0% | 15.7% | 6.3% | 9.6% | 17.1% | 12.3% | |
| Latest Twelve Months | 12.3% | 16.2% | 7.3% | 9.7% | 17.1% | 12.3% | |
| Current Trading Multiples | |||||||
| EV / LTM Revenue | 2.49x | 2.60x | 1.58x | 1.16x | 3.43x | 1.23x | |
| EV / LTM EBITDA | 15.7x | 14.0x | 19.0x | 9.3x | 17.7x | 8.9x | |
| EV / LTM EBIT | 20.2x | 16.0x | 21.7x | 12.0x | 20.0x | 10.1x | |
| Low | Mid | High | |||||
| Benchmark EV / LTM EBIT | 12.0x | 20.0x | 21.7x | ||||
| Historical EV / LTM EBIT | 9.7x | 13.4x | 17.9x | ||||
| Selected EV / LTM EBIT | 11.6x | 12.2x | 12.9x | ||||
| (x) LTM EBIT | 527 | 527 | 527 | ||||
| (=) Implied Enterprise Value | 6,137 | 6,460 | 6,783 | ||||
| (-) Non-shareholder Claims * | (138) | (138) | (138) | ||||
| (=) Equity Value | 5,999 | 6,322 | 6,645 | ||||
| (/) Shares Outstanding | 79.2 | 79.2 | 79.2 | ||||
| Implied Value Range | 75.73 | 79.81 | 83.89 | ||||
| FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | Market Price | |||
| Implied Value Range (Trading Cur) | 75.73 | 79.81 | 83.89 | 65.15 | |||
| Upside / (Downside) | 16.2% | 22.5% | 28.8% | ||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | FDR | ALFA | FJC | VALMT | SU | KCR | |
| Enterprise Value | 5,480 | 177,633 | 374,082 | 6,152 | 130,765 | 5,299 | |
| (+) Cash & Short Term Investments | 68 | 7,567 | 75,131 | 664 | 6,887 | 599 | |
| (+) Investments & Other | 0 | 394 | 10,862 | 29 | 2,389 | 7 | |
| (-) Debt | (1,422) | (12,599) | (5,496) | (1,535) | (16,313) | (743) | |
| (-) Other Liabilities | (10) | (349) | (15,136) | (7) | (791) | 0 | |
| (-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 4,116 | 172,646 | 439,443 | 5,303 | 122,937 | 5,161 | |
| (/) Shares Outstanding | 189.8 | 413.3 | 78.0 | 184.2 | 561.0 | 79.2 | |
| Implied Stock Price | 21.68 | 417.70 | 5,630.82 | 28.79 | 219.15 | 65.15 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 162.74 | 1.00 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 21.68 | 417.70 | 34.60 | 28.79 | 219.15 | 65.15 | |
| Trading Currency | EUR | SEK | EUR | EUR | EUR | EUR | |
| FX Rate to Reporting Currency | 1.00 | 1.00 | 162.74 | 1.00 | 1.00 | 1.00 | |