| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| OPTT | PPSI | SING | AMSC | POLA | | STEM | |
| NYSEAM:OPTT | NasdaqCM:PPSI | OTCPK:SING | NasdaqGS:AMSC | NasdaqCM:POLA | | NYSE:STEM | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 54.3% | 15.6% | 86.9% | 21.0% | -8.7% | | 52.5% | |
| 3Y CAGR | 66.1% | 28.6% | 109.1% | 18.7% | 19.2% | | 4.3% | |
| Latest Twelve Months | 24.0% | -18.3% | -30.9% | 46.4% | -17.2% | | -68.7% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | -860.4% | -21.1% | -134.5% | -20.1% | -54.5% | | -69.1% | |
| Prior Fiscal Year | -1028.7% | -22.5% | -28.4% | -30.1% | -34.5% | | -37.8% | |
| Latest Fiscal Year | -532.2% | -6.4% | -61.1% | -4.4% | -39.2% | | -112.8% | |
| Latest Twelve Months | -343.0% | -28.1% | -68.0% | 2.7% | -29.8% | | -112.8% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 11.73x | 1.03x | 0.15x | 3.38x | 0.87x | | 4.21x | |
| EV / LTM EBIT | -3.4x | -3.7x | -0.2x | 124.2x | -2.9x | | -3.7x | |
| Price / LTM Sales | 13.03x | 1.01x | 0.01x | 3.74x | 0.42x | | 0.44x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.15x | 1.03x | 11.73x | | | | | |
| Historical EV / LTM Revenue | 2.42x | 5.24x | 24.34x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 3.97x | 4.18x | 4.39x | | | | | |
| (x) LTM Revenue | 145 | 145 | 145 | | | | | |
| (=) Implied Enterprise Value | 574 | 605 | 635 | | | | | |
| (-) Non-shareholder Claims * | (542) | (542) | (542) | | | | | |
| (=) Equity Value | 32 | 62 | 93 | | | | | |
| (/) Shares Outstanding | 164.1 | 164.1 | 164.1 | | | | | |
| Implied Value Range | 0.20 | 0.38 | 0.56 | | | | | |
| FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 0.20 | 0.38 | 0.56 | | 0.39 | | | |
| Upside / (Downside) | -49.6% | -2.4% | 44.8% | | | | | |