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 | 3.5x - 3.9x | 3.7x |
| Selected Fwd EBITDA Multiple | 2.5x - 2.7x | 2.6x |
| Fair Value | $3.29 - $3.41 | $3.35 |
| Upside | 41.4% - 46.6% | 44.0% |
| Benchmarks | Ticker | Full Ticker |
| Jupiter Fund Management Plc | JUP | LSE:JUP |
| Virtus Investment Partners, Inc. | VRTS | NYSE:VRTS |
| SEI Investments Company | SEIC | NasdaqGS:SEIC |
| Artisan Partners Asset Management Inc. | APAM | NYSE:APAM |
| St. James's Place plc | STJ | LSE:STJ |
| Man Group Plc | MNGP.F | OTCPK:MNGP.F |
| - | - | - |
| Select LTM EBITDA Multiple | |||||||
| Benchmark Companies | |||||||
| JUP | VRTS | SEIC | APAM | STJ | MNGP.F | ||
| LSE:JUP | NYSE:VRTS | NasdaqGS:SEIC | NYSE:APAM | LSE:STJ | OTCPK:MNGP.F | ||
| Historical EBITDA Growth | |||||||
| 5Y CAGR | -9.3% | 8.2% | 3.7% | 5.3% | 7.7% | 1.4% | |
| 3Y CAGR | -23.2% | -14.0% | -0.1% | -11.7% | 6.3% | -14.7% | |
| Latest Twelve Months | -7.8% | 11.5% | 22.2% | 19.8% | 147.8% | 49.4% | |
| Historical EBITDA Profit Margin | |||||||
| 5 Year Average Margin | 33.5% | 30.9% | 28.1% | 37.4% | 9.4% | 35.0% | |
| Prior Fiscal Year | 29.9% | 25.7% | 24.9% | 32.1% | 2.2% | 22.7% | |
| Latest Fiscal Year | 27.9% | 27.3% | 28.1% | 34.0% | 4.0% | 27.6% | |
| Latest Twelve Months | 27.9% | 27.6% | 28.7% | 34.4% | 4.0% | 27.6% | |
| Current Trading Multiples | |||||||
| EV / LTM Revenue | -0.06x | 1.58x | 4.37x | 2.51x | 0.23x | 0.14x | |
| EV / LTM EBITDA | -0.2x | 5.8x | 15.2x | 7.3x | 5.7x | 0.5x | |
| EV / LTM EBIT | -0.2x | 7.9x | 16.5x | 7.5x | 5.8x | 0.6x | |
| Low | Mid | High | |||||
| Benchmark EV / LTM EBITDA | -0.2x | 5.8x | 15.2x | ||||
| Historical EV / LTM EBITDA | 0.5x | 4.1x | 6.3x | ||||
| Selected EV / LTM EBITDA | 3.5x | 3.7x | 3.9x | ||||
| (x) LTM EBITDA | 396 | 396 | 396 | ||||
| (=) Implied Enterprise Value | 1,383 | 1,455 | 1,528 | ||||
| (-) Non-shareholder Claims * | 2,423 | 2,423 | 2,423 | ||||
| (=) Equity Value | 3,806 | 3,878 | 3,951 | ||||
| (/) Shares Outstanding | 1,142.1 | 1,142.1 | 1,142.1 | ||||
| Implied Value Range | 3.33 | 3.40 | 3.46 | ||||
| FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | Market Price | |||
| Implied Value Range (Trading Cur) | 3.33 | 3.40 | 3.46 | 2.33 | |||
| Upside / (Downside) | 43.3% | 46.1% | 48.8% | ||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | JUP | VRTS | SEIC | APAM | STJ | MNGP.F | |
| Enterprise Value | (17) | (950) | 9,463 | 2,821 | (176,263) | 232 | |
| (+) Cash & Short Term Investments | 504 | 219 | 742 | 259 | 353 | 523 | |
| (+) Investments & Other | 2 | 2,380 | 278 | 415 | 182,342 | 2,164 | |
| (-) Debt | (91) | (304) | (28) | (299) | (624) | (264) | |
| (-) Other Liabilities | 0 | (123) | 0 | (146) | 0 | 0 | |
| (-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 398 | 1,223 | 10,454 | 3,050 | 5,808 | 2,655 | |
| (/) Shares Outstanding | 512.4 | 6.9 | 124.5 | 70.4 | 530.2 | 1,142.1 | |
| Implied Stock Price | 0.78 | 176.92 | 83.98 | 43.30 | 10.96 | 2.33 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 0.78 | 176.92 | 83.98 | 43.30 | 10.96 | 2.33 | |
| Trading Currency | GBP | USD | USD | USD | GBP | USD | |
| FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |