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Metrics | Range | Conclusion |
---|---|---|
Selected LTM P/E Multiple | 15.5x - 17.1x | 16.3x |
Selected Fwd P/E Multiple | 13.3x - 14.7x | 14.0x |
Fair Value | €199.38 - €220.37 | €209.87 |
Upside | 6.1% - 17.2% | 11.6% |
Benchmarks | - | Full Ticker |
Textron Inc. | - | NYSE:TXT |
L3Harris Technologies, Inc. | - | NYSE:LHX |
BWX Technologies, Inc. | - | NYSE:BWXT |
General Dynamics Corporation | - | NYSE:GD |
Northrop Grumman Corporation | - | NYSE:NOC |
Huntington Ingalls Industries, Inc. | - | DB:HI4 |
- | - | - |
Select Price / LTM EPS Ratio | ||||||||
Benchmark Companies | ||||||||
TXT | LHX | BWXT | GD | NOC | HI4 | |||
NYSE:TXT | NYSE:LHX | NYSE:BWXT | NYSE:GD | NYSE:NOC | DB:HI4 | |||
Historical Net Income Growth | ||||||||
5Y CAGR | 0.2% | -1.8% | 2.9% | 1.7% | 13.2% | 0.0% | ||
3Y CAGR | 3.4% | -6.7% | -2.7% | 5.1% | -15.9% | 0.4% | ||
Latest Twelve Months | -10.5% | 22.4% | 14.7% | 14.1% | 103.0% | -19.2% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 5.7% | 7.2% | 12.0% | 8.3% | 10.8% | 6.0% | ||
Prior Fiscal Year | 6.7% | 6.3% | 9.8% | 7.8% | 5.2% | 5.9% | ||
Latest Fiscal Year | 6.0% | 7.0% | 10.4% | 7.9% | 10.2% | 4.8% | ||
Latest Twelve Months | 6.0% | 7.0% | 10.4% | 7.9% | 10.2% | 4.8% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | 11.0x | 13.3x | 24.8x | 14.6x | 12.7x | 10.8x | ||
Price / LTM Sales | 1.0x | 1.9x | 3.5x | 1.5x | 1.8x | 0.7x | ||
LTM P/E Ratio | 16.5x | 26.5x | 33.2x | 19.2x | 17.6x | 14.7x | ||
Low | Mid | High | ||||||
Benchmark LTM P/E Ratio | 16.5x | 19.2x | 33.2x | |||||
Historical LTM P/E Ratio | 11.1x | 14.7x | 19.5x | |||||
Selected P/E Multiple | 15.5x | 16.3x | 17.1x | |||||
(x) LTM Net Income | 550 | 550 | 550 | |||||
(=) Equity Value | 8,508 | 8,956 | 9,404 | |||||
(/) Shares Outstanding | 39.2 | 39.2 | 39.2 | |||||
Implied Value Range | 216.84 | 228.26 | 239.67 | |||||
FX Rate: USD/EUR | 1.1 | 1.1 | 1.1 | Market Price | ||||
Implied Value Range (Trading Cur) | 201.66 | 212.28 | 222.89 | 188.00 | ||||
Upside / (Downside) | 7.3% | 12.9% | 18.6% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | TXT | LHX | BWXT | GD | NOC | HI4 | |
Value of Common Equity | 13,652 | 39,783 | 9,362 | 72,772 | 73,411 | 7,931 | |
(/) Shares Outstanding | 181.6 | 187.7 | 91.5 | 269.9 | 144.8 | 39.2 | |
Implied Stock Price | 75.17 | 211.93 | 102.34 | 269.58 | 507.14 | 202.15 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.08 | |
Implied Stock Price (Trading Cur) | 75.17 | 211.93 | 102.34 | 269.58 | 507.14 | 188.00 | |
Trading Currency | USD | USD | USD | USD | USD | EUR | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.08 |