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Metrics | Range | Conclusion |
---|---|---|
Selected LTM EBITDA Multiple | 278.1x - 307.4x | 292.8x |
Selected Fwd EBITDA Multiple | 295.1x - 326.1x | 310.6x |
Fair Value | $8.63 - $9.53 | $9.08 |
Upside | -34.7% - -27.9% | -31.3% |
Benchmarks | Ticker | Full Ticker |
Autozi Internet Technology (Global) Ltd. | AZI | NasdaqGM:AZI |
Jiuzi Holdings, Inc. | JZXN | NasdaqCM:JZXN |
Kaixin Holdings | KXIN | NasdaqCM:KXIN |
Wenyuan Group Corp. | WYGC | OTCPK:WYGC |
Landbay Inc | LNBY | OTCPK:LNBY |
Park Ha Biological Technology Co., Ltd. | PHH | NasdaqCM:PHH |
- | - | - |
Select LTM EBITDA Multiple | |||||||
Benchmark Companies | |||||||
AZI | JZXN | KXIN | WYGC | LNBY | PHH | ||
NasdaqGM:AZI | NasdaqCM:JZXN | NasdaqCM:KXIN | OTCPK:WYGC | OTCPK:LNBY | NasdaqCM:PHH | ||
Historical EBITDA Growth | |||||||
5Y CAGR | NM- | NM- | NM- | NM- | NM- | NM- | |
3Y CAGR | NM- | NM- | NM- | NM- | NM- | NM- | |
Latest Twelve Months | 24.5% | -1166.9% | -134.6% | 35.7% | NM | -32.0% | |
Historical EBITDA Profit Margin | |||||||
5 Year Average Margin | -5.2% | -451.8% | -68.6% | -1812.8% | -576.4% | 21.7% | |
Prior Fiscal Year | -6.2% | NA | -83.5% | -1802.8% | -201.9% | 48.8% | |
Latest Fiscal Year | -4.3% | -3970.4% | -132.4% | -4750.0% | NA | 34.3% | |
Latest Twelve Months | -4.3% | -3970.4% | -339.5% | -1396.5% | NA | 34.3% | |
Current Trading Multiples | |||||||
EV / LTM Revenue | 0.65x | 35.58x | 0.56x | 117.29x | 110.49x | 146.19x | |
EV / LTM EBITDA | -15.2x | -0.9x | -0.2x | -8.4x | NA | 426.5x | |
EV / LTM EBIT | -14.9x | -0.9x | -0.2x | -8.3x | -265.3x | 438.7x | |
Low | Mid | High | |||||
Benchmark EV / LTM EBITDA | -15.2x | -4.6x | -0.2x | ||||
Historical EV / LTM EBITDA | 426.5x | 426.5x | 426.5x | ||||
Selected EV / LTM EBITDA | 278.1x | 292.8x | 307.4x | ||||
(x) LTM EBITDA | 1 | 1 | 1 | ||||
(=) Implied Enterprise Value | 227 | 239 | 251 | ||||
(-) Non-shareholder Claims * | 0 | 0 | 0 | ||||
(=) Equity Value | 228 | 239 | 251 | ||||
(/) Shares Outstanding | 26.4 | 26.4 | 26.4 | ||||
Implied Value Range | 8.63 | 9.08 | 9.53 | ||||
FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | Market Price | |||
Implied Value Range (Trading Cur) | 8.63 | 9.08 | 9.53 | 13.22 | |||
Upside / (Downside) | -34.7% | -31.3% | -27.9% |
Equity Waterfall | |||||||
Benchmark Companies | |||||||
(in millions) | AZI | JZXN | KXIN | WYGC | LNBY | PHH | |
Enterprise Value | 81 | 50 | 7 | 8 | 20 | 348 | |
(+) Cash & Short Term Investments | 8 | 1 | 1 | 0 | 0 | 1 | |
(+) Investments & Other | 0 | 0 | 0 | 0 | 0 | 0 | |
(-) Debt | (14) | (0) | (2) | (0) | (0) | (0) | |
(-) Other Liabilities | 1 | 0 | (3) | 0 | 0 | 0 | |
(-) Preferred Stock | 0 | 0 | (0) | 0 | 0 | 0 | |
(-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
Value of Common Equity | 77 | 51 | 3 | 8 | 20 | 349 | |
(/) Shares Outstanding | 106.0 | 11.0 | 3.0 | 80.9 | 30.0 | 26.4 | |
Implied Stock Price | 0.72 | 4.59 | 0.95 | 0.10 | 0.65 | 13.22 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 0.72 | 4.59 | 0.95 | 0.10 | 0.65 | 13.22 | |
Trading Currency | USD | USD | USD | USD | USD | USD | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |