| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| 6 | 3 | 362 | TXNM | PCG | | 2 | |
| SEHK:6 | SEHK:3 | SEHK:362 | NYSE:TXNM | NYSE:PCG | | SEHK:2 | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | -3.5% | 6.4% | -37.2% | 6.2% | 7.3% | | 1.2% | |
| 3Y CAGR | -11.6% | 1.2% | -48.3% | 3.5% | 5.8% | | 2.7% | |
| Latest Twelve Months | -12.8% | -2.6% | -15.0% | 1.7% | 0.0% | | 4.4% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 87.7% | 16.3% | -147.3% | 16.9% | 15.3% | | 14.3% | |
| Prior Fiscal Year | 87.5% | 14.3% | -113.6% | 11.8% | 14.1% | | 17.4% | |
| Latest Fiscal Year | 59.1% | 14.7% | -323.9% | 23.1% | 21.0% | | 16.4% | |
| Latest Twelve Months | 59.1% | 14.7% | -353.5% | 23.1% | 21.0% | | 16.4% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 10.43x | 2.43x | 40.10x | 5.26x | 3.97x | | 2.25x | |
| EV / LTM EBIT | 17.6x | 16.5x | -11.3x | 22.8x | 18.9x | | 13.8x | |
| Price / LTM Sales | 89.24x | 2.22x | 0.72x | 2.52x | 1.55x | | 1.76x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 2.43x | 5.26x | 40.10x | | | | | |
| Historical EV / LTM Revenue | 1.94x | 2.25x | 2.88x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 2.30x | 2.42x | 2.54x | | | | | |
| (x) LTM Revenue | 90,964 | 90,964 | 90,964 | | | | | |
| (=) Implied Enterprise Value | 209,401 | 220,422 | 231,443 | | | | | |
| (-) Non-shareholder Claims * | (45,449) | (45,449) | (45,449) | | | | | |
| (=) Equity Value | 163,952 | 174,973 | 185,994 | | | | | |
| (/) Shares Outstanding | 2,526.5 | 2,526.5 | 2,526.5 | | | | | |
| Implied Value Range | 64.89 | 69.26 | 73.62 | | | | | |
| FX Rate: HKD/HKD | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 64.89 | 69.26 | 73.62 | | 63.10 | | | |
| Upside / (Downside) | 2.8% | 9.8% | 16.7% | | | | | |