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 | 1.3x - 1.4x | 1.4x |
| Selected Fwd Revenue Multiple | 1.1x - 1.3x | 1.2x |
| Fair Value | $328.22 - $377.99 | $353.10 |
| Upside | -10.5% - 3.0% | -3.8% |
| Benchmarks | Ticker | Full Ticker |
|---|---|---|
| FTI Consulting, Inc. | FCN | NYSE:FCN |
| Huron Consulting Group Inc. | HURN | NasdaqGS:HURN |
| Parsons Corporation | PSN | NYSE:PSN |
| CBIZ, Inc. | CBZ | NYSE:CBZ |
| DLH Holdings Corp. | DLHC | NasdaqCM:DLHC |
| CACI International Inc | CACI | NYSE:CACI |
| Select LTM Revenue Multiple | ||||||||
| Benchmark Companies | ||||||||
| FCN | HURN | PSN | CBZ | DLHC | CACI | |||
| NYSE:FCN | NasdaqGS:HURN | NYSE:PSN | NYSE:CBZ | NasdaqCM:DLHC | NYSE:CACI | |||
| Historical Revenue Growth | ||||||||
| 5Y CAGR | 9.5% | 11.1% | 11.3% | 13.8% | 19.8% | 9.0% | ||
| 3Y CAGR | 10.0% | 17.9% | 22.6% | 18.0% | 17.2% | 8.2% | ||
| Latest Twelve Months | 6.0% | 9.1% | 24.0% | 14.0% | -3.0% | 14.0% | ||
| Historical EBIT Profit Margin | ||||||||
| 5 Year Average Margin | 11.0% | 8.7% | 4.4% | 10.5% | 7.1% | 8.4% | ||
| Prior Fiscal Year | 10.9% | 10.4% | 6.3% | 10.6% | 6.6% | 8.5% | ||
| Latest Fiscal Year | 9.6% | 13.2% | 6.8% | 6.8% | 6.3% | 8.5% | ||
| Latest Twelve Months | 9.6% | 13.2% | 6.8% | 6.8% | 6.1% | 9.1% | ||
| Current Trading Multiples | ||||||||
| EV / LTM Revenue | 1.45x | 1.79x | 1.08x | 3.21x | 0.61x | 1.41x | ||
| EV / LTM EBIT | 15.2x | 13.5x | 15.9x | 47.6x | 10.0x | 15.5x | ||
| Price / LTM Sales | 1.57x | 1.59x | 0.94x | 2.21x | 0.15x | 1.01x | ||
| Low | Mid | High | ||||||
| Benchmark EV / LTM Revenue | 0.61x | 1.45x | 3.21x | |||||
| Historical EV / LTM Revenue | 1.30x | 1.41x | 1.56x | |||||
| Selected EV / LTM Revenue | 1.30x | 1.37x | 1.44x | |||||
| (x) LTM Revenue | 8,132 | 8,132 | 8,132 | |||||
| (=) Implied Enterprise Value | 10,599 | 11,157 | 11,715 | |||||
| (-) Non-shareholder Claims * | (3,242) | (3,242) | (3,242) | |||||
| (=) Equity Value | 7,358 | 7,916 | 8,473 | |||||
| (/) Shares Outstanding | 22.4 | 22.4 | 22.4 | |||||
| Implied Value Range | 328.18 | 353.06 | 377.94 | |||||
| FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | Market Price | ||||
| Implied Value Range (Trading Cur) | 328.18 | 353.06 | 377.94 | 366.92 | ||||
| Upside / (Downside) | -10.6% | -3.8% | 3.0% | |||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | FCN | HURN | PSN | CBZ | DLHC | CACI | |
| Enterprise Value | 5,376 | 2,660 | 7,273 | 5,826 | 236 | 11,468 | |
| (+) Cash & Short Term Investments | 660 | 24 | 454 | 14 | 0 | 177 | |
| (+) Investments & Other | 0 | 71 | 139 | 3 | 0 | 20 | |
| (-) Debt | (242) | (399) | (1,425) | (1,834) | (178) | (3,438) | |
| (-) Other Liabilities | 0 | 0 | (118) | 0 | 0 | 0 | |
| (-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 5,794 | 2,356 | 6,322 | 4,010 | 58 | 8,226 | |
| (/) Shares Outstanding | 35.3 | 16.4 | 106.8 | 52.9 | 14.4 | 22.4 | |
| Implied Stock Price | 164.08 | 143.45 | 59.21 | 75.86 | 4.05 | 366.92 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 164.08 | 143.45 | 59.21 | 75.86 | 4.05 | 366.92 | |
| 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 | |