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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Pb Multiple | 1.0x - 1.1x | 1.0x |
Historical Pb Multiple | 0.3x - 1.2x | 0.6x |
Fair Value | €2.33 - €2.58 | €2.46 |
Upside | -6.0% - 3.9% | -1.1% |
Benchmarks | - | Full Ticker |
Under Armour, Inc. | - | NYSE:UAA |
Deckers Outdoor Corporation | - | NYSE:DECK |
Crocs, Inc. | - | NasdaqGS:CROX |
G-III Apparel Group, Ltd. | - | NasdaqGS:GIII |
Movado Group, Inc. | - | NYSE:MOV |
Fossil Group, Inc. | - | DB:FSL |
Select Price / Book Ratio | ||||||||
Benchmark Companies | ||||||||
UAA | DECK | CROX | GIII | MOV | FSL | |||
NYSE:UAA | NYSE:DECK | NasdaqGS:CROX | NasdaqGS:GIII | NYSE:MOV | DB:FSL | |||
Historical Net Income Growth | ||||||||
5Y CAGR | NM- | 28.5% | 51.4% | 6.1% | -15.5% | NM- | ||
3Y CAGR | NM- | 28.8% | 9.4% | -1.2% | -41.5% | NM- | ||
Latest Twelve Months | 221.8% | 21.9% | -70.9% | -2.3% | -41.7% | 61.0% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 3.3% | 16.0% | 21.3% | 3.4% | 5.4% | -5.0% | ||
Prior Fiscal Year | 4.1% | 17.7% | 20.0% | 5.7% | 6.2% | -11.1% | ||
Latest Fiscal Year | -3.9% | 19.4% | 23.2% | 6.1% | 2.8% | -9.0% | ||
Latest Twelve Months | 2.0% | 19.3% | 5.7% | 5.8% | 2.6% | -5.5% | ||
Return on Equity | ||||||||
5 Year Average Margin | 9.0% | 34.5% | 130.8% | 6.6% | 9.2% | -23.7% | ||
Prior Fiscal Year | 11.3% | 39.2% | 69.8% | 12.0% | 8.2% | -47.6% | ||
Latest Twelve Months | 5.5% | 43.6% | 15.4% | 11.3% | 3.5% | -35.0% | ||
Next Fiscal Year | 22.7% | 35.1% | 34.2% | 6.9% | 7.6% | -446.2% | ||
Two Fiscal Years Forward | 21.0% | 33.5% | 32.0% | 7.0% | 11.8% | 17.4% | ||
Current Trading Multiples | ||||||||
Price / LTM Sales | 0.4x | 3.3x | 1.0x | 0.4x | 0.7x | 0.1x | ||
Price / LTM EPS | 20.1x | 17.0x | 17.8x | 6.2x | 24.7x | -2.7x | ||
Price / Book | 1.1x | 6.8x | 3.0x | 0.7x | 0.9x | 1.1x | ||
Price / Fwd Book | 0.9x | 6.0x | 2.3x | 0.6x | 0.9x | -2.8x | ||
Low | Mid | High | ||||||
Benchmark P/B Ratio | 0.7x | 1.1x | 6.8x | |||||
Historical P/B Ratio | 0.3x | 0.6x | 1.2x | |||||
Selected P/B Multiple | 1.0x | 1.0x | 1.1x | |||||
(x) Book Value | 150 | 150 | 150 |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | UAA | DECK | CROX | GIII | MOV | FSL | |
Value of Common Equity | 2,071 | 16,880 | 4,387 | 1,112 | 431 | 157 | |
(/) Shares Outstanding | 428.8 | 148.3 | 54.6 | 42.2 | 22.1 | 53.8 | |
Implied Stock Price | 4.83 | 113.79 | 80.32 | 26.34 | 19.49 | 2.92 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.18 | |
Implied Stock Price (Trading Cur) | 4.83 | 113.79 | 80.32 | 26.34 | 19.49 | 2.48 | |
Trading Currency | USD | USD | USD | USD | USD | EUR | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.18 |