| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| 485 | 4W8 | SCA A | KLBN3 | PKA | | BILLS | |
| DB:485 | DB:4W8 | OM:SCAA | BOVESPA:KLBN3 | DB:PKA | | BATS-CHIXE:BILLS | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 7.6% | 7.4% | 1.0% | 13.8% | 3.8% | | 12.2% | |
| 3Y CAGR | 2.0% | 7.2% | 3.1% | 6.0% | 2.7% | | 18.3% | |
| Latest Twelve Months | -3.5% | -6.6% | 10.2% | 9.0% | 9.5% | | 5.3% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 10.1% | 10.2% | 17.2% | 19.8% | 15.1% | | 5.7% | |
| Prior Fiscal Year | 9.4% | 13.7% | 12.8% | 16.6% | 14.4% | | 1.8% | |
| Latest Fiscal Year | 9.3% | 13.0% | 14.8% | 17.3% | 13.8% | | 4.5% | |
| Latest Twelve Months | 10.0% | 13.0% | 14.8% | 17.3% | 14.5% | | 4.5% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 1.54x | 1.46x | 4.62x | 2.96x | 2.20x | | 0.67x | |
| EV / LTM EBIT | 15.4x | 11.3x | 31.2x | 17.1x | 15.9x | | 14.8x | |
| Price / LTM Sales | 1.02x | 0.86x | 4.09x | 1.13x | 1.97x | | 0.56x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 1.46x | 2.20x | 4.62x | | | | | |
| Historical EV / LTM Revenue | 0.67x | 0.95x | 1.54x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 0.83x | 0.88x | 0.92x | | | | | |
| (x) LTM Revenue | 43,567 | 43,567 | 43,567 | | | | | |
| (=) Implied Enterprise Value | 36,335 | 38,247 | 40,159 | | | | | |
| (-) Non-shareholder Claims * | (4,453) | (4,453) | (4,453) | | | | | |
| (=) Equity Value | 31,882 | 33,794 | 35,706 | | | | | |
| (/) Shares Outstanding | 248.7 | 248.7 | 248.7 | | | | | |
| Implied Value Range | 128.19 | 135.88 | 143.57 | | | | | |
| FX Rate: SEK/SEK | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 128.19 | 135.88 | 143.57 | | 99.20 | | | |
| Upside / (Downside) | 29.2% | 37.0% | 44.7% | | | | | |