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Metrics | Range | Conclusion |
---|---|---|
Selected LTM EBIT Multiple | -8.8x - -9.8x | -9.3x |
Selected Fwd EBIT Multiple | -15.7x - -17.3x | -16.5x |
Fair Value | $0.16 - $0.73 | $0.44 |
Upside | -71.7% - 27.6% | -22.0% |
Benchmarks | Ticker | Full Ticker |
DexCom, Inc. | DXCM | NasdaqGS:DXCM |
Neogen Corporation | NEOG | NasdaqGS:NEOG |
IDEXX Laboratories, Inc. | IDXX | NasdaqGS:IDXX |
Biomerica, Inc. | BMRA | NasdaqCM:BMRA |
MedMira Inc. | MMIR.F | OTCPK:MMIR.F |
Trinity Biotech plc | TRIB | NasdaqGS:TRIB |
- | - | - |
Select LTM EBIT Multiple | |||||||
Benchmark Companies | |||||||
DXCM | NEOG | IDXX | BMRA | MMIR.F | TRIB | ||
NasdaqGS:DXCM | NasdaqGS:NEOG | NasdaqGS:IDXX | NasdaqCM:BMRA | OTCPK:MMIR.F | NasdaqGS:TRIB | ||
Historical EBIT Growth | |||||||
5Y CAGR | 33.3% | 1.9% | 16.1% | NM- | NM- | NM- | |
3Y CAGR | 31.2% | -1.1% | 8.5% | NM- | NM- | NM- | |
Latest Twelve Months | 0.4% | -44.4% | 8.5% | 6.9% | -48.4% | 29.6% | |
Historical EBIT Profit Margin | |||||||
5 Year Average Margin | 14.1% | 13.2% | 27.9% | -78.8% | -293.8% | -4.9% | |
Prior Fiscal Year | 16.5% | 12.5% | 30.0% | -135.3% | -449.5% | -21.6% | |
Latest Fiscal Year | 14.9% | 8.1% | 30.5% | -117.6% | -623.7% | -28.3% | |
Latest Twelve Months | 14.9% | 5.2% | 30.5% | -105.6% | -851.1% | -17.8% | |
Current Trading Multiples | |||||||
EV / LTM Revenue | 5.80x | 2.68x | 8.37x | 1.30x | 217.87x | 1.70x | |
EV / LTM EBITDA | 28.6x | 14.8x | 24.7x | -1.2x | -26.2x | -11.6x | |
EV / LTM EBIT | 39.0x | 51.7x | 27.4x | -1.2x | -25.6x | -9.5x | |
Low | Mid | High | |||||
Benchmark EV / LTM EBIT | -25.6x | 27.4x | 51.7x | ||||
Historical EV / LTM EBIT | -12.0x | 5.2x | 21.0x | ||||
Selected EV / LTM EBIT | -8.8x | -9.3x | -9.8x | ||||
(x) LTM EBIT | (11) | (11) | (11) | ||||
(=) Implied Enterprise Value | 93 | 98 | 103 | ||||
(-) Non-shareholder Claims * | (91) | (91) | (91) | ||||
(=) Equity Value | 2 | 7 | 12 | ||||
(/) Shares Outstanding | 17.4 | 17.4 | 17.4 | ||||
Implied Value Range | 0.14 | 0.42 | 0.71 | ||||
FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | Market Price | |||
Implied Value Range (Trading Cur) | 0.14 | 0.42 | 0.71 | 0.57 | |||
Upside / (Downside) | -75.1% | -25.7% | 23.8% |
Equity Waterfall | |||||||
Benchmark Companies | |||||||
(in millions) | DXCM | NEOG | IDXX | BMRA | MMIR.F | TRIB | |
Enterprise Value | 24,045 | 2,517 | 33,955 | 8 | 100 | 101 | |
(+) Cash & Short Term Investments | 2,579 | 140 | 288 | 2 | 1 | 3 | |
(+) Investments & Other | 119 | 0 | 31 | 0 | 0 | 0 | |
(-) Debt | (2,594) | (894) | (987) | (1) | (16) | (94) | |
(-) 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 | 24,150 | 1,764 | 33,288 | 10 | 85 | 10 | |
(/) Shares Outstanding | 390.8 | 216.9 | 81.0 | 18.3 | 804.7 | 17.4 | |
Implied Stock Price | 61.80 | 8.13 | 410.76 | 0.54 | 0.11 | 0.57 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.42 | 1.00 | |
Implied Stock Price (Trading Cur) | 61.80 | 8.13 | 410.76 | 0.54 | 0.07 | 0.57 | |
Trading Currency | USD | USD | USD | USD | USD | USD | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.42 | 1.00 |