| Select LTM Revenue Multiple | | | | | | | | |
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| Benchmark Companies | | | |
| AKSEN | CONSE | MOGAN | BIOEN | GWIND | | AKFYE | |
| IBSE:AKSEN | IBSE:CONSE | IBSE:MOGAN | IBSE:BIOEN | IBSE:GWIND | | IBSE:AKFYE | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 41.5% | NM- | NM- | 96.4% | 56.9% | | 59.0% | |
| 3Y CAGR | 31.6% | 54.4% | 57.7% | 84.5% | 63.6% | | 58.1% | |
| Latest Twelve Months | -37.7% | -19.7% | -29.8% | -16.6% | -11.9% | | -19.1% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 15.2% | -3.3% | 12.5% | 10.7% | 61.9% | | 28.2% | |
| Prior Fiscal Year | 18.5% | -20.0% | 14.7% | 1.9% | 55.0% | | 47.0% | |
| Latest Fiscal Year | 16.9% | 4.2% | -2.6% | -13.7% | 42.2% | | 34.1% | |
| Latest Twelve Months | 16.9% | 4.2% | -2.6% | -13.7% | 42.2% | | 34.1% | |
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| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 2.29x | 2.91x | 4.63x | 4.90x | 6.16x | | 5.14x | |
| EV / LTM EBIT | 13.6x | 69.5x | -176.8x | -35.8x | 14.6x | | 15.1x | |
| Price / LTM Sales | 1.31x | 1.48x | 1.66x | 3.58x | 5.75x | | 3.76x | |
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| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 2.29x | 4.63x | 6.16x | | | | | |
| Historical EV / LTM Revenue | 3.06x | 4.10x | 5.14x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 4.78x | 5.03x | 5.29x | | | | | |
| (x) LTM Revenue | 5,097 | 5,097 | 5,097 | | | | | |
| (=) Implied Enterprise Value | 24,377 | 25,660 | 26,943 | | | | | |
| (-) Non-shareholder Claims * | (7,024) | (7,024) | (7,024) | | | | | |
| (=) Equity Value | 17,353 | 18,636 | 19,919 | | | | | |
| (/) Shares Outstanding | 1,197.0 | 1,197.0 | 1,197.0 | | | | | |
| Implied Value Range | 14.50 | 15.57 | 16.64 | | | | | |
| FX Rate: TRY/TRY | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 14.50 | 15.57 | 16.64 | | 16.00 | | | |
| Upside / (Downside) | -9.4% | -2.7% | 4.0% | | | | | |