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 | 5.8x - 6.5x | 6.2x |
Selected Fwd EBITDA Multiple | 6.8x - 7.6x | 7.2x |
Fair Value | $2.58 - $6.57 | $4.57 |
Upside | -27.4% - 85.1% | 28.8% |
Benchmarks | Ticker | Full Ticker |
Lee Enterprises, Incorporated | LEE | NasdaqGS:LEE |
DallasNews Corporation | DALN | NasdaqCM:DALN |
The New York Times Company | NYT | NYSE:NYT |
Gray Media, Inc. | GTN.A | NYSE:GTN.A |
Paramount Global | PARA | NasdaqGS:PARA |
The E.W. Scripps Company | SSP | NasdaqGS:SSP |
- | - | - |
Select LTM EBITDA Multiple | |||||||
Benchmark Companies | |||||||
LEE | DALN | NYT | GTN.A | PARA | SSP | ||
NasdaqGS:LEE | NasdaqCM:DALN | NYSE:NYT | NYSE:GTN.A | NasdaqGS:PARA | NasdaqGS:SSP | ||
Historical EBITDA Growth | |||||||
5Y CAGR | -12.8% | NM- | 15.0% | 10.4% | -11.2% | 24.8% | |
3Y CAGR | -16.9% | NM- | 12.1% | 16.7% | -12.7% | 0.1% | |
Latest Twelve Months | -58.1% | 87.3% | 10.9% | 35.1% | -3.6% | 37.9% | |
Historical EBITDA Profit Margin | |||||||
5 Year Average Margin | 12.2% | -1.2% | 14.8% | 32.1% | 13.1% | 22.0% | |
Prior Fiscal Year | 11.6% | -4.0% | 15.9% | 24.0% | 7.7% | 17.2% | |
Latest Fiscal Year | 9.2% | 0.2% | 17.1% | 31.4% | 10.0% | 23.2% | |
Latest Twelve Months | 6.0% | -0.4% | 17.3% | 30.7% | 9.1% | 22.9% | |
Current Trading Multiples | |||||||
EV / LTM Revenue | 0.83x | 0.39x | 3.06x | 1.85x | 0.78x | 1.39x | |
EV / LTM EBITDA | 13.7x | -86.8x | 17.7x | 6.0x | 8.6x | 6.1x | |
EV / LTM EBIT | 43.6x | -23.0x | 21.3x | 7.9x | 10.0x | 8.3x | |
Low | Mid | High | |||||
Benchmark EV / LTM EBITDA | -86.8x | 8.6x | 17.7x | ||||
Historical EV / LTM EBITDA | 7.4x | 8.5x | 10.3x | ||||
Selected EV / LTM EBITDA | 5.8x | 6.2x | 6.5x | ||||
(x) LTM EBITDA | 566 | 566 | 566 | ||||
(=) Implied Enterprise Value | 3,309 | 3,483 | 3,657 | ||||
(-) Non-shareholder Claims * | (3,103) | (3,103) | (3,103) | ||||
(=) Equity Value | 206 | 380 | 555 | ||||
(/) Shares Outstanding | 87.7 | 87.7 | 87.7 | ||||
Implied Value Range | 2.35 | 4.34 | 6.32 | ||||
FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | Market Price | |||
Implied Value Range (Trading Cur) | 2.35 | 4.34 | 6.32 | 3.55 | |||
Upside / (Downside) | -33.8% | 22.2% | 78.1% |
Equity Waterfall | |||||||
Benchmark Companies | |||||||
(in millions) | LEE | DALN | NYT | GTN.A | PARA | SSP | |
Enterprise Value | 491 | 48 | 7,934 | 6,583 | 21,894 | 3,414 | |
(+) Cash & Short Term Investments | 5 | 44 | 522 | 210 | 2,673 | 24 | |
(+) Investments & Other | 34 | 0 | 409 | 72 | 87 | 15 | |
(-) Debt | (486) | (19) | 0 | (5,715) | (15,527) | (2,725) | |
(-) Other Liabilities | (3) | 0 | 0 | 0 | (390) | 0 | |
(-) Preferred Stock | 0 | 0 | 0 | (650) | 0 | (417) | |
(-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
Value of Common Equity | 41 | 73 | 8,865 | 500 | 8,737 | 311 | |
(/) Shares Outstanding | 6.2 | 5.4 | 163.0 | 45.8 | 674.2 | 87.7 | |
Implied Stock Price | 6.61 | 13.67 | 54.37 | 10.90 | 12.96 | 3.55 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 6.61 | 13.67 | 54.37 | 10.90 | 12.96 | 3.55 | |
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 |