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 | 11.5% - 10.5% | 11.0% |
| Terminal EBITDA Multiple | 13.5x - 15.5x | 14.5x |
| Fair Value | $34.77 - $42.40 | $38.46 |
| Upside | -1.6% - 20.0% | 8.9% |
| Select Revenue and EBITDA Forecast | |||||||||||
| (USD in millions) | Input Projections | ||||||||||
| Fiscal Years Ending | Dec-24 | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Dec-32 | Dec-33 | Dec-34 |
| Revenue | 660 | 684 | 715 | 729 | 744 | 759 | 774 | 789 | 805 | 821 | 838 |
| % Growth | 0.0% | 3.7% | 4.5% | 2.0% | 2.0% | 2.0% | 2.0% | 2.0% | 2.0% | 2.0% | 2.0% |
| EBITDA | 118 | 123 | 129 | 131 | 134 | 136 | 139 | 142 | 145 | 148 | 151 |
| % of Revenue | 17.8% | 17.9% | 18.0% | 18.0% | 18.0% | 18.0% | 18.0% | 18.0% | 18.0% | 18.0% | 18.0% |
| Calculation of Free Cash Flow | |||||||||||
| Projected Unlevered Cash Flow | |||||||||||
| (USD in millions) | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Dec-32 | Dec-33 | Dec-34 | |
| EBITDA | 123 | 129 | 131 | 134 | 136 | 139 | 142 | 145 | 148 | 151 | |
| Other Income / (Exp) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| D&A | (26) | (27) | (27) | (28) | (28) | (29) | (29) | (30) | (30) | (31) | |
| EBIT | 96 | 102 | 104 | 106 | 108 | 110 | 113 | 115 | 117 | 120 | |
| Pro forma Taxes | (19) | (20) | (21) | (21) | (22) | (22) | (23) | (23) | (23) | (24) | |
| NOPAT | 72 | 77 | 82 | 83 | 85 | 87 | 88 | 90 | 92 | 94 | 96 |
| Capital Expenditures | (14) | (20) | (18) | (18) | (19) | (19) | (19) | (19) | (19) | (19) | (19) |
| NWC Investment | (0) | (5) | (6) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) |
| (+) D&A | 28 | 26 | 27 | 27 | 28 | 28 | 29 | 29 | 30 | 30 | 31 |
| Free Cash Flow | 85 | 79 | 84 | 89 | 91 | 93 | 95 | 97 | 100 | 102 | 105 |
| % Growth | -8% | 7% | 6% | 2% | 2% | 3% | 2% | 2% | 2% | 2% | |