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Metrics | Range | Conclusion |
---|---|---|
Selected LTM EBIT Multiple | 1.0x - 1.1x | 1.1x |
Selected Fwd EBIT Multiple | -1.0x - -1.1x | -1.1x |
Fair Value | $0.15 - $0.14 | $0.15 |
Upside | 15.6% - 7.5% | 11.5% |
Benchmarks | Ticker | Full Ticker |
Catena Media plc | 0RUE | LSE:0RUE |
Gambling.com Group Limited | GAMB | NasdaqGM:GAMB |
Better Collective A/S | BETCOS | BATS-CHIXE:BETCOS |
Audioboom Group plc | BOOM | AIM:BOOM |
BioRegenx, Inc. | BRGX | OTCPK:BRGX |
XLMedia PLC | XLMD.F | OTCPK:XLMD.F |
- | - | - |
Select LTM EBIT Multiple | |||||||
Benchmark Companies | |||||||
0RUE | GAMB | BETCOS | BOOM | BRGX | XLMD.F | ||
LSE:0RUE | NasdaqGM:GAMB | BATS-CHIXE:BETCOS | AIM:BOOM | OTCPK:BRGX | OTCPK:XLMD.F | ||
Historical EBIT Growth | |||||||
5Y CAGR | NM- | 90.2% | 27.1% | NM- | NM- | NM- | |
3Y CAGR | NM- | 39.4% | 15.3% | NM- | NM- | NM- | |
Latest Twelve Months | -115.7% | 28.9% | -12.7% | 38.2% | 27.4% | -743.1% | |
Historical EBIT Profit Margin | |||||||
5 Year Average Margin | 28.9% | 26.8% | 26.8% | -11.9% | 28.2% | 2.8% | |
Prior Fiscal Year | 18.3% | 27.0% | 25.4% | -0.9% | -185.7% | 4.6% | |
Latest Fiscal Year | -4.4% | 29.7% | 19.5% | -25.6% | -493.0% | -85.0% | |
Latest Twelve Months | -4.4% | 29.7% | 19.5% | -10.9% | 163.4% | -85.0% | |
Current Trading Multiples | |||||||
EV / LTM Revenue | 0.57x | 3.26x | 2.36x | 1.20x | -11.02x | -1.02x | |
EV / LTM EBITDA | 18.0x | 10.0x | 7.7x | -11.0x | 31.9x | 1.6x | |
EV / LTM EBIT | -12.8x | 11.0x | 12.1x | -11.0x | -6.7x | 1.2x | |
Low | Mid | High | |||||
Benchmark EV / LTM EBIT | -12.8x | -6.7x | 12.1x | ||||
Historical EV / LTM EBIT | 1.2x | 36.3x | 125.8x | ||||
Selected EV / LTM EBIT | 1.0x | 1.1x | 1.1x | ||||
(x) LTM EBIT | (15) | (15) | (15) | ||||
(=) Implied Enterprise Value | (15) | (16) | (17) | ||||
(-) Non-shareholder Claims * | 35 | 35 | 35 | ||||
(=) Equity Value | 20 | 19 | 18 | ||||
(/) Shares Outstanding | 137.7 | 137.7 | 137.7 | ||||
Implied Value Range | 0.14 | 0.14 | 0.13 | ||||
FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | Market Price | |||
Implied Value Range (Trading Cur) | 0.14 | 0.14 | 0.13 | 0.13 | |||
Upside / (Downside) | 9.3% | 4.9% | 0.6% |
Equity Waterfall | |||||||
Benchmark Companies | |||||||
(in millions) | 0RUE | GAMB | BETCOS | BOOM | BRGX | XLMD.F | |
Enterprise Value | 27 | 415 | 1,531 | 89 | 14 | (17) | |
(+) Cash & Short Term Investments | 8 | 14 | 38 | 3 | 0 | 35 | |
(+) Investments & Other | 1 | 0 | 0 | 0 | 0 | 0 | |
(-) Debt | (22) | (28) | (346) | (1) | (2) | 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 | 14 | 401 | 1,223 | 92 | 11 | 18 | |
(/) Shares Outstanding | 75.7 | 34.8 | 61.4 | 16.4 | 956.5 | 137.7 | |
Implied Stock Price | 0.18 | 11.54 | 19.92 | 5.59 | 0.01 | 0.13 | |
FX Conversion Rate to Trading Currency | 0.09 | 1.00 | 0.09 | 1.29 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 2.03 | 11.54 | 219.00 | 4.35 | 0.01 | 0.13 | |
Trading Currency | SEK | USD | SEK | GBP | USD | USD | |
FX Rate to Reporting Currency | 0.09 | 1.00 | 0.09 | 1.29 | 1.00 | 1.00 |