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 EBIT Multiple | 2.2x - 2.5x | 2.4x |
| Selected Fwd EBIT Multiple | 6.0x - 6.6x | 6.3x |
| Fair Value | €1.83 - €1.93 | €1.88 |
| Upside | 12.5% - 18.8% | 15.7% |
| Benchmarks | Ticker | Full Ticker |
| Hapag-Lloyd Aktiengesellschaft | HLAG | DB:HLAG |
| Yang Ming Marine Transport Corporation | 2609 | TWSE:2609 |
| Evergreen Marine Corporation (Taiwan) Ltd. | 2603 | TWSE:2603 |
| A.P. Møller - Mærsk A/S | AMKB.F | OTCPK:AMKB.F |
| Eusu Holdings Co., Ltd. | A000700 | KOSE:A000700 |
| COSCO SHIPPING Holdings Co., Ltd. | C6G | DB:C6G |
| - | - | - |
| Select LTM EBIT Multiple | |||||||
| Benchmark Companies | |||||||
| HLAG | 2609 | 2603 | AMKB.F | A000700 | C6G | ||
| DB:HLAG | TWSE:2609 | TWSE:2603 | OTCPK:AMKB.F | KOSE:A000700 | DB:C6G | ||
| Historical EBIT Growth | |||||||
| 5Y CAGR | 27.1% | NM- | 104.9% | 29.8% | NM- | 54.8% | |
| 3Y CAGR | -35.4% | -30.7% | -18.4% | -32.4% | -3.8% | -23.1% | |
| Latest Twelve Months | 128.0% | 1341.1% | 354.7% | 882.3% | -14.9% | 199.6% | |
| Historical EBIT Profit Margin | |||||||
| 5 Year Average Margin | 26.0% | 32.3% | 35.7% | 19.3% | 2.9% | 25.0% | |
| Prior Fiscal Year | 14.0% | -1.2% | 12.0% | 6.7% | 6.4% | 12.8% | |
| Latest Fiscal Year | 13.2% | 30.3% | 33.4% | 10.8% | 4.2% | 24.9% | |
| Latest Twelve Months | 13.2% | 29.7% | 34.8% | 12.3% | 4.4% | 26.5% | |
| Current Trading Multiples | |||||||
| EV / LTM Revenue | 1.16x | 0.15x | 0.60x | 0.59x | 0.06x | 0.40x | |
| EV / LTM EBITDA | 6.4x | 0.4x | 1.5x | 3.2x | 0.9x | 1.4x | |
| EV / LTM EBIT | 8.8x | 0.5x | 1.7x | 4.8x | 1.3x | 1.5x | |
| Low | Mid | High | |||||
| Benchmark EV / LTM EBIT | 0.5x | 1.7x | 8.8x | ||||
| Historical EV / LTM EBIT | -0.1x | 1.9x | 28.1x | ||||
| Selected EV / LTM EBIT | 2.2x | 2.4x | 2.5x | ||||
| (x) LTM EBIT | 64,518 | 64,518 | 64,518 | ||||
| (=) Implied Enterprise Value | 145,075 | 152,711 | 160,347 | ||||
| (-) Non-shareholder Claims * | 137,181 | 137,181 | 137,181 | ||||
| (=) Equity Value | 282,256 | 289,892 | 297,528 | ||||
| (/) Shares Outstanding | 19,087.0 | 19,087.0 | 19,087.0 | ||||
| Implied Value Range | 14.79 | 15.19 | 15.59 | ||||
| FX Rate: CNY/EUR | 8.4 | 8.4 | 8.4 | Market Price | |||
| Implied Value Range (Trading Cur) | 1.76 | 1.81 | 1.86 | 1.63 | |||
| Upside / (Downside) | 8.3% | 11.2% | 14.1% | ||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | HLAG | 2609 | 2603 | AMKB.F | A000700 | C6G | |
| Enterprise Value | 22,523 | 33,612 | 295,328 | 32,038 | 24,375 | 123,500 | |
| (+) Cash & Short Term Investments | 5,448 | 234,833 | 280,479 | 19,853 | 196,822 | 187,984 | |
| (+) Investments & Other | 1,468 | 32,750 | 43,771 | 0 | 9,972 | 80,317 | |
| (-) Debt | (6,459) | (85,228) | (170,199) | (17,690) | (10,099) | (79,514) | |
| (-) Other Liabilities | (60) | (853) | (22,865) | (1,086) | (67,684) | (51,606) | |
| (-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 22,919 | 215,114 | 426,513 | 33,115 | 153,386 | 260,681 | |
| (/) Shares Outstanding | 175.8 | 3,492.1 | 2,165.0 | 15.1 | 26.0 | 19,087.0 | |
| Implied Stock Price | 130.40 | 61.60 | 197.00 | 2,190.00 | 5,890.00 | 13.66 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 8.40 | |
| Implied Stock Price (Trading Cur) | 130.40 | 61.60 | 197.00 | 2,190.00 | 5,890.00 | 1.63 | |
| Trading Currency | EUR | TWD | TWD | USD | KRW | EUR | |
| FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 8.40 | |