| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| KPN | TEL | TEL2 A | SCMN | TH3B | | TLSN.F | |
| ENXTAM:KPN | OB:TEL | OM:TEL2A | SWX:SCMN | DB:TH3B | | OTCPK:TLSN.F | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 0.4% | -6.8% | 1.7% | -0.7% | 0.0% | | 0.7% | |
| 3Y CAGR | 2.1% | -6.3% | 3.4% | -0.4% | 1.9% | | 0.3% | |
| Latest Twelve Months | 3.0% | -0.7% | 1.7% | -0.3% | 3.3% | | 0.6% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 22.4% | 21.2% | 19.2% | 18.9% | 13.0% | | 11.9% | |
| Prior Fiscal Year | 25.1% | 22.0% | 19.7% | 20.7% | 13.7% | | 11.1% | |
| Latest Fiscal Year | 25.2% | 22.6% | 21.0% | 18.6% | 14.3% | | 12.8% | |
| Latest Twelve Months | 25.2% | 22.6% | 21.0% | 18.6% | 14.3% | | 12.8% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 3.73x | 2.75x | 4.06x | 3.81x | 2.27x | | 2.53x | |
| EV / LTM EBIT | 14.8x | 12.2x | 19.3x | 20.5x | 15.8x | | 19.8x | |
| Price / LTM Sales | 2.72x | 2.44x | 3.03x | 2.42x | 0.99x | | 1.52x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 2.27x | 3.73x | 4.06x | | | | | |
| Historical EV / LTM Revenue | 2.30x | 2.53x | 2.74x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 2.32x | 2.44x | 2.56x | | | | | |
| (x) LTM Revenue | 89,127 | 89,127 | 89,127 | | | | | |
| (=) Implied Enterprise Value | 206,427 | 217,291 | 228,156 | | | | | |
| (-) Non-shareholder Claims * | (89,298) | (89,298) | (89,298) | | | | | |
| (=) Equity Value | 117,129 | 127,993 | 138,858 | | | | | |
| (/) Shares Outstanding | 3,932.1 | 3,932.1 | 3,932.1 | | | | | |
| Implied Value Range | 29.79 | 32.55 | 35.31 | | | | | |
| FX Rate: SEK/USD | 9.8 | 9.8 | 9.8 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 3.05 | 3.33 | 3.61 | | 3.30 | | | |
| Upside / (Downside) | -7.6% | 0.9% | 9.5% | | | | | |