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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Revenue Multiple | 0.8x - 0.9x | 0.8x |
Selected Fwd Revenue Multiple | 0.9x - 0.9x | 0.9x |
Fair Value | £0.0028 - £0.0030 | £0.0029 |
Upside | 75.0% - 85.1% | 80.0% |
Benchmarks | Ticker | Full Ticker |
---|---|---|
ADVFN Plc | AFN | AIM:AFN |
River Global Plc | RVRB | AIM:RVRB |
Manolete Partners Plc | MANO | AIM:MANO |
Lift Global Ventures Plc | LFT | OFEX:LFT |
Kingswood Holdings Limited | KWG | AIM:KWG |
Supernova Digital Assets Plc | SOL | OFEX:SOL |
Select LTM Revenue Multiple | ||||||||
Benchmark Companies | ||||||||
AFN | RVRB | MANO | LFT | KWG | SOL | |||
AIM:AFN | AIM:RVRB | AIM:MANO | OFEX:LFT | AIM:KWG | OFEX:SOL | |||
Historical Revenue Growth | ||||||||
5Y CAGR | -12.6% | 21.0% | 13.8% | NM- | 62.9% | NM- | ||
3Y CAGR | -21.2% | 223.8% | -1.9% | NM- | 50.1% | NM- | ||
Latest Twelve Months | -10.9% | -7.6% | 11.3% | -1.6% | 413.3% | 219.9% | ||
Historical EBIT Profit Margin | ||||||||
5 Year Average Margin | -4.2% | -765.2% | 17.4% | -27.9% | 9.2% | -25.7% | ||
Prior Fiscal Year | -14.1% | -65.9% | -15.0% | -57.4% | 12.5% | 137.2% | ||
Latest Fiscal Year | -25.0% | -42.8% | 9.5% | -44.0% | 12.6% | 82.5% | ||
Latest Twelve Months | -25.0% | -42.8% | 5.4% | -44.0% | 13.0% | 82.5% | ||
Current Trading Multiples | ||||||||
EV / LTM Revenue | -0.23x | 1.63x | 0.21x | 0.11x | 1.27x | 0.18x | ||
EV / LTM EBIT | 0.9x | -3.8x | 3.9x | -0.2x | 9.7x | 0.2x | ||
Price / LTM Sales | 0.61x | 4.16x | 1.15x | 0.45x | 0.51x | 0.84x | ||
Low | Mid | High | ||||||
Benchmark EV / LTM Revenue | -0.23x | 0.21x | 1.63x | |||||
Historical EV / LTM Revenue | 0.18x | 0.64x | 1.10x | |||||
Selected EV / LTM Revenue | 0.77x | 0.81x | 0.85x | |||||
(x) LTM Revenue | 3 | 3 | 3 | |||||
(=) Implied Enterprise Value | 2 | 2 | 2 | |||||
(-) Non-shareholder Claims * | 2 | 2 | 2 | |||||
(=) Equity Value | 4 | 4 | 4 | |||||
(/) Shares Outstanding | 1,536.2 | 1,536.2 | 1,536.2 | |||||
Implied Value Range | 0.00 | 0.00 | 0.00 | |||||
FX Rate: GBP/GBP | 1.0 | 1.0 | 1.0 | Market Price | ||||
Implied Value Range (Trading Cur) | 0.00 | 0.00 | 0.00 | 0.00 | ||||
Upside / (Downside) | 70.3% | 75.2% | 80.0% |
Equity Waterfall | |||||||
Benchmark Companies | |||||||
(in millions) | AFN | RVRB | MANO | LFT | KWG | SOL | |
Enterprise Value | (1) | 61 | 6 | (0) | 115 | 1 | |
(+) Cash & Short Term Investments | 4 | 9 | 29 | 0 | 16 | 0 | |
(+) Investments & Other | 0 | 27 | 11 | 0 | 0 | 2 | |
(-) Debt | (0) | (1) | (13) | 0 | (80) | 0 | |
(-) Other Liabilities | 0 | 0 | 0 | 0 | (5) | 0 | |
(-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
(-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
Value of Common Equity | 3 | 96 | 34 | 0 | 46 | 2 | |
(/) Shares Outstanding | 46.3 | 287.9 | 43.8 | 95.7 | 686.2 | 1,536.2 | |
Implied Stock Price | 0.06 | 0.34 | 0.78 | 0.00 | 0.07 | 0.00 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 0.06 | 0.34 | 0.78 | 0.00 | 0.07 | 0.00 | |
Trading Currency | GBP | GBP | GBP | GBP | GBP | GBP | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |