| Select LTM Revenue Multiple | | | | | | | | |
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| Benchmark Companies | | | |
| VMC | MLM | SEOF.F | GEF | WLK | | LP3 | |
| NYSE:VMC | NYSE:MLM | OTCPK:SEOF.F | NYSE:GEF | NYSE:WLK | | DB:LP3 | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 8.5% | 8.1% | -2.1% | 3.5% | 8.4% | | 4.9% | |
| 3Y CAGR | 10.1% | 6.5% | -3.8% | -0.7% | 1.0% | | -9.1% | |
| Latest Twelve Months | -4.7% | -3.6% | -3.7% | 6.9% | -3.2% | | 13.9% | |
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| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 17.1% | 20.7% | 7.8% | 9.9% | 13.6% | | 25.2% | |
| Prior Fiscal Year | 17.8% | 23.6% | 0.4% | 11.6% | 9.8% | | 13.3% | |
| Latest Fiscal Year | 19.1% | 22.7% | 3.6% | 8.2% | 8.0% | | 18.2% | |
| Latest Twelve Months | 19.1% | 22.7% | 3.6% | 8.1% | 8.0% | | 18.2% | |
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| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 5.04x | 5.41x | 0.89x | 1.03x | 1.11x | | 2.06x | |
| EV / LTM EBIT | 26.4x | 23.8x | 24.5x | 12.7x | 13.9x | | 11.3x | |
| Price / LTM Sales | 4.32x | 4.59x | 0.66x | 0.46x | 0.95x | | 2.05x | |
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| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.89x | 1.11x | 5.41x | | | | | |
| Historical EV / LTM Revenue | 1.05x | 1.69x | 2.06x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 1.58x | 1.66x | 1.75x | | | | | |
| (x) LTM Revenue | 2,941 | 2,941 | 2,941 | | | | | |
| (=) Implied Enterprise Value | 4,644 | 4,888 | 5,133 | | | | | |
| (-) Non-shareholder Claims * | (23) | (23) | (23) | | | | | |
| (=) Equity Value | 4,621 | 4,865 | 5,110 | | | | | |
| (/) Shares Outstanding | 69.7 | 69.7 | 69.7 | | | | | |
| Implied Value Range | 66.30 | 69.81 | 73.32 | | | | | |
| FX Rate: USD/EUR | 1.1 | 1.1 | 1.1 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 58.46 | 61.56 | 64.65 | | 75.70 | | | |
| Upside / (Downside) | -22.8% | -18.7% | -14.6% | | | | | |