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Metrics | Range | Conclusion |
---|---|---|
Selected LTM EBIT Multiple | -6.9x - -7.6x | -7.2x |
Selected Fwd EBIT Multiple | -19.5x - -21.6x | -20.6x |
Fair Value | €0.18 - €0.19 | €0.18 |
Upside | -29.5% - -23.2% | -26.4% |
Benchmarks | Ticker | Full Ticker |
reAlpha Tech Corp. | AIRE | NasdaqCM:AIRE |
Cipia Vision Ltd | CPIA | TASE:CPIA |
Remark Holdings, Inc. | 0A4R | LSE:0A4R |
My Size, Inc. | MYSZ | NasdaqCM:MYSZ |
accesso Technology Group plc | ACSO | AIM:ACSO |
Datalex plc | DLE | ISE:DLE |
- | - | - |
Select LTM EBIT Multiple | |||||||
Benchmark Companies | |||||||
AIRE | CPIA | 0A4R | MYSZ | ACSO | DLE | ||
NasdaqCM:AIRE | TASE:CPIA | LSE:0A4R | NasdaqCM:MYSZ | AIM:ACSO | ISE:DLE | ||
Historical EBIT Growth | |||||||
5Y CAGR | NM- | NM- | NM- | NM- | NM- | NM- | |
3Y CAGR | NM- | NM- | NM- | NM- | 4.0% | NM- | |
Latest Twelve Months | -7.2% | 6.2% | 10.0% | 13.9% | 5.2% | -3.0% | |
Historical EBIT Profit Margin | |||||||
5 Year Average Margin | -3298.1% | -206.0% | -243.5% | -2230.5% | -1.2% | -17.8% | |
Prior Fiscal Year | -4957.5% | -163.3% | -182.6% | -77.6% | 8.5% | -19.7% | |
Latest Fiscal Year | -706.4% | -143.8% | -365.3% | -40.1% | 8.7% | -21.3% | |
Latest Twelve Months | -350.3% | -143.8% | -337.5% | -42.3% | 8.7% | -21.3% | |
Current Trading Multiples | |||||||
EV / LTM Revenue | 10.23x | 0.36x | 5.50x | -0.05x | 1.23x | 1.75x | |
EV / LTM EBITDA | -3.1x | -0.3x | -1.7x | 0.1x | 9.6x | -8.3x | |
EV / LTM EBIT | -2.9x | -0.2x | -1.6x | 0.1x | 14.1x | -8.2x | |
Low | Mid | High | |||||
Benchmark EV / LTM EBIT | -2.9x | -0.2x | 14.1x | ||||
Historical EV / LTM EBIT | -44.6x | -9.0x | 488.2x | ||||
Selected EV / LTM EBIT | -6.9x | -7.2x | -7.6x | ||||
(x) LTM EBIT | (6) | (6) | (6) | ||||
(=) Implied Enterprise Value | 40 | 42 | 44 | ||||
(-) Non-shareholder Claims * | 6 | 6 | 6 | ||||
(=) Equity Value | 46 | 48 | 50 | ||||
(/) Shares Outstanding | 188.2 | 188.2 | 188.2 | ||||
Implied Value Range | 0.24 | 0.26 | 0.27 | ||||
FX Rate: USD/EUR | 1.2 | 1.2 | 1.2 | Market Price | |||
Implied Value Range (Trading Cur) | 0.21 | 0.22 | 0.23 | 0.25 | |||
Upside / (Downside) | -16.7% | -12.9% | -9.0% |
Equity Waterfall | |||||||
Benchmark Companies | |||||||
(in millions) | AIRE | CPIA | 0A4R | MYSZ | ACSO | DLE | |
Enterprise Value | 35 | 2 | 29 | (0) | 191 | 49 | |
(+) Cash & Short Term Investments | 1 | 5 | 0 | 4 | 43 | 6 | |
(+) Investments & Other | 0 | 0 | 0 | 0 | 0 | 0 | |
(-) Debt | (5) | (4) | (24) | (0) | (15) | (1) | |
(-) 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 | 31 | 4 | 5 | 4 | 219 | 55 | |
(/) Shares Outstanding | 83.8 | 182.4 | 68.0 | 3.3 | 39.1 | 188.2 | |
Implied Stock Price | 0.37 | 0.02 | 0.08 | 1.19 | 5.60 | 0.29 | |
FX Conversion Rate to Trading Currency | 1.00 | 0.30 | 1.00 | 1.00 | 1.35 | 1.17 | |
Implied Stock Price (Trading Cur) | 0.37 | 0.07 | 0.08 | 1.19 | 4.14 | 0.25 | |
Trading Currency | USD | ILS | USD | USD | GBP | EUR | |
FX Rate to Reporting Currency | 1.00 | 0.30 | 1.00 | 1.00 | 1.35 | 1.17 |