| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| BURSA | LSEG | B3SA3 | DBOE.F | JSE | | TASE | |
| KLSE:BURSA | LSE:LSEG | BOVESPA:B3SA3 | OTCPK:DBOE.F | JSE:JSE | | TASE:TASE | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 9.3% | 30.8% | 10.0% | 11.9% | 6.4% | | 11.0% | |
| 3Y CAGR | 0.7% | 10.7% | 0.9% | 10.0% | 5.9% | | 10.6% | |
| Latest Twelve Months | 27.2% | 5.7% | 6.5% | 15.2% | 6.1% | | 12.3% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 56.1% | 25.5% | 63.0% | 43.3% | 30.5% | | 23.3% | |
| Prior Fiscal Year | 52.0% | 19.8% | 59.0% | 51.0% | 29.0% | | 27.7% | |
| Latest Fiscal Year | 52.9% | 20.9% | 64.7% | 49.6% | 29.0% | | 30.4% | |
| Latest Twelve Months | 52.9% | 20.9% | 64.7% | 49.6% | 29.0% | | 30.4% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 6.74x | 7.48x | 6.35x | 9.11x | 2.08x | | 8.24x | |
| EV / LTM EBIT | 12.7x | 35.8x | 9.8x | 18.4x | 7.2x | | 27.1x | |
| Price / LTM Sales | 7.66x | 6.50x | 6.61x | 8.17x | 3.29x | | 9.19x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 2.08x | 6.74x | 9.11x | | | | | |
| Historical EV / LTM Revenue | 3.90x | 4.52x | 8.24x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 5.47x | 5.76x | 6.04x | | | | | |
| (x) LTM Revenue | 438 | 438 | 438 | | | | | |
| (=) Implied Enterprise Value | 2,394 | 2,520 | 2,646 | | | | | |
| (-) Non-shareholder Claims * | 413 | 413 | 413 | | | | | |
| (=) Equity Value | 2,808 | 2,934 | 3,060 | | | | | |
| (/) Shares Outstanding | 91.2 | 91.2 | 91.2 | | | | | |
| Implied Value Range | 30.77 | 32.15 | 33.53 | | | | | |
| FX Rate: ILS/ILS | 1.0 | 1.0 | 1.0 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 30.77 | 32.15 | 33.53 | | 44.04 | | | |
| Upside / (Downside) | -30.1% | -27.0% | -23.9% | | | | | |