| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| DESA | KRTEK | MNDRS | IEYHO | SANKO | | SUNTK | |
| IBSE:DESA | IBSE:KRTEK | IBSE:MNDRS | IBSE:IEYHO | IBSE:SANKO | | IBSE:SUNTK | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 47.4% | 45.9% | 39.8% | 59.0% | 53.8% | | 56.0% | |
| 3Y CAGR | 90.3% | 53.8% | 51.9% | 80.9% | 63.3% | | 76.5% | |
| Latest Twelve Months | -15.7% | -17.2% | -14.8% | 1.7% | -14.8% | | 9.7% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 20.0% | 15.2% | 10.1% | 9.2% | 0.6% | | 12.4% | |
| Prior Fiscal Year | 25.2% | 11.3% | 4.1% | 8.2% | -1.0% | | 10.8% | |
| Latest Fiscal Year | 22.1% | -3.5% | -1.9% | 7.2% | -0.3% | | 10.7% | |
| Latest Twelve Months | 22.1% | -3.5% | -1.9% | 7.2% | -0.3% | | 10.7% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.96x | 0.98x | 0.61x | 1.86x | 0.33x | | 1.24x | |
| EV / LTM EBIT | 4.4x | -28.4x | -32.6x | 25.7x | -118.2x | | 11.5x | |
| Price / LTM Sales | 1.45x | 0.49x | 0.33x | 1.76x | 0.39x | | 1.27x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.33x | 0.96x | 1.86x | | | | | |
| Historical EV / LTM Revenue | 0.77x | 1.24x | 2.14x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 1.19x | 1.25x | 1.32x | | | | | |
| (x) LTM Revenue | 12,247 | 12,247 | 12,247 | | | | | |
| (=) Implied Enterprise Value | 14,591 | 15,359 | 16,127 | | | | | |
| (-) Non-shareholder Claims * | 384 | 384 | 384 | | | | | |
| (=) Equity Value | 14,976 | 15,744 | 16,511 | | | | | |
| (/) Shares Outstanding | 474.6 | 474.6 | 474.6 | | | | | |
| Implied Value Range | 31.55 | 33.17 | 34.79 | | | | | |
| FX Rate: TRY/TRY | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 31.55 | 33.17 | 34.79 | | 32.70 | | | |
| Upside / (Downside) | -3.5% | 1.4% | 6.4% | | | | | |