| Select LTM Revenue Multiple | | | | | | | | |
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| Benchmark Companies | | | |
| 0QPS | IFF | ZTF | 0G6T | CRDA | | TTTR.F | |
| LSE:0QPS | NYSE:IFF | LSE:ZTF | LSE:0G6T | LSE:CRDA | | OTCPK:TTTR.F | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 3.6% | 17.4% | 12.8% | 8.0% | 3.4% | | 6.3% | |
| 3Y CAGR | 3.5% | -0.5% | 13.6% | 9.3% | -4.8% | | 7.2% | |
| Latest Twelve Months | 7.2% | 0.0% | 16.4% | 5.7% | -3.9% | | 3.8% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 16.4% | 8.6% | 10.7% | 12.8% | 19.7% | | 13.4% | |
| Prior Fiscal Year | 16.1% | 5.3% | 11.8% | 11.3% | 14.9% | | 12.5% | |
| Latest Fiscal Year | 18.9% | 6.3% | 12.2% | 14.4% | 14.2% | | 13.1% | |
| Latest Twelve Months | 18.9% | 6.3% | 12.2% | 14.4% | 14.2% | | 13.1% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 5.25x | 2.54x | 1.22x | 2.98x | 2.85x | | 1.35x | |
| EV / LTM EBIT | 27.8x | 40.4x | 10.0x | 20.7x | 20.0x | | 10.3x | |
| Price / LTM Sales | 4.71x | 1.74x | 0.99x | 2.52x | 2.51x | | 1.35x | |
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| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 1.22x | 2.85x | 5.25x | | | | | |
| Historical EV / LTM Revenue | 1.35x | 2.77x | 5.08x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 1.87x | 1.97x | 2.07x | | | | | |
| (x) LTM Revenue | 153 | 153 | 153 | | | | | |
| (=) Implied Enterprise Value | 286 | 301 | 316 | | | | | |
| (-) Non-shareholder Claims * | (1) | (1) | (1) | | | | | |
| (=) Equity Value | 286 | 301 | 316 | | | | | |
| (/) Shares Outstanding | 60.8 | 60.8 | 60.8 | | | | | |
| Implied Value Range | 4.70 | 4.95 | 5.20 | | | | | |
| FX Rate: GBP/USD | 0.8 | 0.8 | 0.8 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 6.09 | 6.41 | 6.73 | | 4.84 | | | |
| Upside / (Downside) | 25.8% | 32.4% | 39.0% | | | | | |