| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| SDR | JUP | III | 0RPW | N91 | | T3V2 | |
| LSE:SDR | LSE:JUP | LSE:III | LSE:0RPW | LSE:N91 | | DB:T3V2 | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 3.0% | -0.8% | 73.7% | 2.4% | -0.5% | | -18.7% | |
| 3Y CAGR | -0.3% | -13.8% | 7.3% | -3.7% | -3.6% | | -6.7% | |
| Latest Twelve Months | 3.1% | -4.8% | 29.4% | 16.1% | 1.0% | | -5.5% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 23.9% | 29.9% | 94.6% | 27.1% | 33.6% | | 5.1% | |
| Prior Fiscal Year | 22.4% | 29.6% | 96.0% | 23.0% | 34.2% | | 10.2% | |
| Latest Fiscal Year | 21.5% | 27.6% | 97.0% | 25.9% | 31.2% | | 7.4% | |
| Latest Twelve Months | 19.3% | 23.2% | 97.0% | 26.1% | 31.2% | | 9.3% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.31x | 0.68x | 2.89x | 2.15x | 2.29x | | 0.58x | |
| EV / LTM EBIT | 1.6x | 2.9x | 3.0x | 8.3x | 7.3x | | 6.2x | |
| Price / LTM Sales | 2.02x | 1.83x | 7.65x | 2.57x | 2.85x | | 2.74x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.31x | 2.15x | 2.89x | | | | | |
| Historical EV / LTM Revenue | -0.17x | -0.03x | 0.09x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.52x | 0.55x | 0.58x | | | | | |
| (x) LTM Revenue | 1,330 | 1,330 | 1,330 | | | | | |
| (=) Implied Enterprise Value | 693 | 730 | 766 | | | | | |
| (-) Non-shareholder Claims * | 2,871 | 2,871 | 2,871 | | | | | |
| (=) Equity Value | 3,564 | 3,601 | 3,637 | | | | | |
| (/) Shares Outstanding | 1,788.2 | 1,788.2 | 1,788.2 | | | | | |
| Implied Value Range | 1.99 | 2.01 | 2.03 | | | | | |
| FX Rate: GBP/EUR | 0.9 | 0.9 | 0.9 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 2.30 | 2.33 | 2.35 | | 2.30 | | | |
| Upside / (Downside) | 0.1% | 1.1% | 2.2% | | | | | |