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 EBITDA Multiple | 11.4x - 12.6x | 12.0x |
| Selected Fwd EBITDA Multiple | 10.5x - 11.6x | 11.1x |
| Fair Value | $63.51 - $73.68 | $68.60 |
| Upside | -2.1% - 13.6% | 5.7% |
| Benchmarks | Ticker | Full Ticker |
| Owens & Minor, Inc. | OMI | NYSE:OMI |
| Envista Holdings Corporation | NVST | NYSE:NVST |
| Enovis Corporation | ENOV | NYSE:ENOV |
| ZimVie Inc. | ZIMV | NasdaqGS:ZIMV |
| Sonendo, Inc. | SONX | OTCPK:SONX |
| Henry Schein, Inc. | HSIC | NasdaqGS:HSIC |
| - | - | - |
| Select LTM EBITDA Multiple | |||||||
| Benchmark Companies | |||||||
| OMI | NVST | ENOV | ZIMV | SONX | HSIC | ||
| NYSE:OMI | NYSE:NVST | NYSE:ENOV | NasdaqGS:ZIMV | OTCPK:SONX | NasdaqGS:HSIC | ||
| Historical EBITDA Growth | |||||||
| 5Y CAGR | 21.7% | -5.8% | -9.9% | -22.1% | NM- | 2.0% | |
| 3Y CAGR | 1.0% | -17.4% | 11.0% | -23.6% | NM- | -1.8% | |
| Latest Twelve Months | 12.3% | -11.9% | 26.3% | 305.5% | 48.8% | 8.2% | |
| Historical EBITDA Profit Margin | |||||||
| 5 Year Average Margin | 4.8% | 17.1% | 14.8% | 8.2% | -131.1% | 8.1% | |
| Prior Fiscal Year | 4.8% | 18.0% | 12.3% | 5.1% | -163.1% | 7.7% | |
| Latest Fiscal Year | 4.7% | 11.1% | 16.1% | 7.2% | -91.1% | 8.0% | |
| Latest Twelve Months | 4.9% | 12.1% | 16.6% | 9.2% | -91.1% | 7.8% | |
| Current Trading Multiples | |||||||
| EV / LTM Revenue | 0.23x | 1.52x | 1.44x | 1.57x | 0.24x | 0.93x | |
| EV / LTM EBITDA | 4.6x | 12.5x | 8.7x | 17.0x | -0.3x | 11.9x | |
| EV / LTM EBIT | 8.2x | 19.9x | 42.6x | 110.6x | -0.3x | 16.3x | |
| Low | Mid | High | |||||
| Benchmark EV / LTM EBITDA | -0.3x | 8.7x | 17.0x | ||||
| Historical EV / LTM EBITDA | 11.6x | 12.2x | 14.4x | ||||
| Selected EV / LTM EBITDA | 11.4x | 12.0x | 12.6x | ||||
| (x) LTM EBITDA | 998 | 998 | 998 | ||||
| (=) Implied Enterprise Value | 11,346 | 11,943 | 12,540 | ||||
| (-) Non-shareholder Claims * | (4,017) | (4,017) | (4,017) | ||||
| (=) Equity Value | 7,329 | 7,926 | 8,523 | ||||
| (/) Shares Outstanding | 121.3 | 121.3 | 121.3 | ||||
| Implied Value Range | 60.44 | 65.36 | 70.29 | ||||
| FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | Market Price | |||
| Implied Value Range (Trading Cur) | 60.44 | 65.36 | 70.29 | 64.88 | |||
| Upside / (Downside) | -6.8% | 0.7% | 8.3% | ||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | OMI | NVST | ENOV | ZIMV | SONX | HSIC | |
| Enterprise Value | 538 | 3,850 | 3,157 | 698 | 7 | 11,885 | |
| (+) Cash & Short Term Investments | 38 | 1,111 | 44 | 70 | 12 | 145 | |
| (+) Investments & Other | 1,893 | 29 | 0 | 0 | 1 | 650 | |
| (-) Debt | (2,102) | (1,596) | (1,465) | (235) | (18) | (3,358) | |
| (-) Other Liabilities | 0 | 0 | (3) | 0 | 0 | (1,454) | |
| (-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 368 | 3,393 | 1,734 | 534 | 1 | 7,868 | |
| (/) Shares Outstanding | 77.2 | 166.2 | 57.2 | 28.2 | 4.7 | 121.3 | |
| Implied Stock Price | 4.76 | 20.42 | 30.33 | 18.92 | 0.30 | 64.88 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 4.76 | 20.42 | 30.33 | 18.92 | 0.30 | 64.88 | |
| Trading Currency | USD | USD | USD | USD | USD | USD | |
| FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |