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Metrics | Range | Conclusion |
---|---|---|
Selected LTM EBIT Multiple | -24.6x - -27.2x | -25.9x |
Selected Fwd EBIT Multiple | 11.6x - 12.8x | 12.2x |
Fair Value | €1.12 - €1.23 | €1.18 |
Upside | -47.2% - -41.9% | -44.5% |
Benchmarks | Ticker | Full Ticker |
Borealis Foods Inc. | BRLS | NasdaqCM:BRLS |
Plantify Foods, Inc. | PTFY | TSXV:PTFY |
Inter-Rock Minerals Inc. | IRO | TSXV:IRO |
Planet Based Foods Global Inc. | PBF | CNSX:PBF |
AgriFORCE Growing Systems Ltd. | AGRI | NasdaqCM:AGRI |
Beyond Oil Ltd. | UH9 | DB:UH9 |
- | - | - |
Select LTM EBIT Multiple | |||||||
Benchmark Companies | |||||||
BRLS | PTFY | IRO | PBF | AGRI | UH9 | ||
NasdaqCM:BRLS | TSXV:PTFY | TSXV:IRO | CNSX:PBF | NasdaqCM:AGRI | DB:UH9 | ||
Historical EBIT Growth | |||||||
5Y CAGR | NM- | NM- | 6.6% | NM- | NM- | NM- | |
3Y CAGR | NM- | NM- | 2.4% | NM- | NM- | NM- | |
Latest Twelve Months | -5.1% | -19.3% | 61.7% | 38.6% | 34.3% | -18.4% | |
Historical EBIT Profit Margin | |||||||
5 Year Average Margin | -65.0% | -312.2% | 3.8% | -6741.6% | -25195.2% | 44556.9% | |
Prior Fiscal Year | -90.1% | -400.3% | 3.3% | -1695.0% | -52947.6% | NA | |
Latest Fiscal Year | -48.5% | -357.9% | 3.0% | -1264.2% | -8343.7% | -866.7% | |
Latest Twelve Months | -61.3% | -376.9% | 3.4% | -368.1% | -8343.7% | -907.0% | |
Current Trading Multiples | |||||||
EV / LTM Revenue | 5.96x | 11.42x | 0.11x | 3.04x | 50.29x | 465.48x | |
EV / LTM EBITDA | -11.6x | -3.3x | 3.0x | -0.8x | -0.7x | -57.4x | |
EV / LTM EBIT | -9.7x | -3.0x | 3.3x | -0.8x | -0.6x | -51.3x | |
Low | Mid | High | |||||
Benchmark EV / LTM EBIT | -9.7x | -0.8x | 3.3x | ||||
Historical EV / LTM EBIT | -10.5x | -8.5x | -6.6x | ||||
Selected EV / LTM EBIT | -24.6x | -25.9x | -27.2x | ||||
(x) LTM EBIT | (3) | (3) | (3) | ||||
(=) Implied Enterprise Value | 73 | 77 | 81 | ||||
(-) Non-shareholder Claims * | 3 | 3 | 3 | ||||
(=) Equity Value | 76 | 80 | 84 | ||||
(/) Shares Outstanding | 63.1 | 63.1 | 63.1 | ||||
Implied Value Range | 1.21 | 1.27 | 1.33 | ||||
FX Rate: USD/EUR | 1.1 | 1.1 | 1.1 | Market Price | |||
Implied Value Range (Trading Cur) | 1.06 | 1.12 | 1.17 | 2.12 | |||
Upside / (Downside) | -49.8% | -47.3% | -44.7% |
Equity Waterfall | |||||||
Benchmark Companies | |||||||
(in millions) | BRLS | PTFY | IRO | PBF | AGRI | UH9 | |
Enterprise Value | 169 | 6 | 12 | 2 | 3 | 149 | |
(+) Cash & Short Term Investments | 1 | 0 | 7 | 0 | 0 | 3 | |
(+) Investments & Other | 0 | 0 | 1 | 0 | 0 | 0 | |
(-) Debt | (47) | (3) | (6) | (1) | (1) | (0) | |
(-) Other Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | |
(-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
(-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
Value of Common Equity | 123 | 3 | 13 | 1 | 2 | 152 | |
(/) Shares Outstanding | 21.4 | 11.4 | 21.9 | 21.9 | 1.7 | 63.1 | |
Implied Stock Price | 5.76 | 0.29 | 0.58 | 0.05 | 1.39 | 2.40 | |
FX Conversion Rate to Trading Currency | 1.00 | 0.72 | 0.72 | 0.72 | 1.00 | 1.13 | |
Implied Stock Price (Trading Cur) | 5.76 | 0.40 | 0.80 | 0.08 | 1.39 | 2.12 | |
Trading Currency | USD | CAD | CAD | CAD | USD | EUR | |
FX Rate to Reporting Currency | 1.00 | 0.72 | 0.72 | 0.72 | 1.00 | 1.13 |