| Select LTM Revenue Multiple | | | | | | | | |
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| Benchmark Companies | | | |
| ATEN | GEN | PEGA | BSY | INTU | | MSFT | |
| NYSE:ATEN | NasdaqGS:GEN | NasdaqGS:PEGA | NasdaqGS:BSY | NasdaqGS:INTU | | NasdaqGS:MSFT | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 4.2% | 9.2% | 10.4% | 12.9% | 19.1% | | 14.3% | |
| 3Y CAGR | 1.5% | 14.3% | 7.3% | 11.9% | 19.1% | | 13.4% | |
| Latest Twelve Months | 4.0% | 3.1% | 4.5% | 10.1% | 13.7% | | 15.0% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 12.9% | 38.8% | -4.4% | 20.4% | 24.0% | | 41.7% | |
| Prior Fiscal Year | 15.4% | 37.6% | 7.2% | 21.4% | 21.9% | | 41.8% | |
| Latest Fiscal Year | 16.8% | 39.9% | 10.7% | 23.1% | 23.7% | | 44.6% | |
| Latest Twelve Months | 16.8% | 51.6% | 10.7% | 23.1% | 23.6% | | 45.0% | |
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| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 3.75x | 6.12x | 3.78x | 10.27x | 10.14x | | 10.75x | |
| EV / LTM EBIT | 22.3x | 11.9x | 35.2x | 44.4x | 42.9x | | 23.9x | |
| Price / LTM Sales | 4.46x | 4.16x | 3.90x | 9.26x | 9.88x | | 10.63x | |
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| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 3.75x | 6.12x | 10.27x | | | | | |
| Historical EV / LTM Revenue | 9.84x | 12.08x | 14.15x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 9.82x | 10.34x | 10.85x | | | | | |
| (x) LTM Revenue | 261,802 | 261,802 | 261,802 | | | | | |
| (=) Implied Enterprise Value | 2,571,008 | 2,706,324 | 2,841,640 | | | | | |
| (-) Non-shareholder Claims * | (15,773) | (15,773) | (15,773) | | | | | |
| (=) Equity Value | 2,555,235 | 2,690,551 | 2,825,867 | | | | | |
| (/) Shares Outstanding | 7,434.0 | 7,434.0 | 7,434.0 | | | | | |
| Implied Value Range | 343.72 | 361.93 | 380.13 | | | | | |
| FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 343.72 | 361.93 | 380.13 | | 382.14 | | | |
| Upside / (Downside) | -10.1% | -5.3% | -0.5% | | | | | |