| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| BSE | ICE | 388 | MX4A | S68 | | OSCU.F | |
| NSEI:BSE | NYSE:ICE | SEHK:388 | DB:MX4A | SGX:S68 | | OTCPK:OSCU.F | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 19.5% | 12.3% | 6.5% | 4.7% | 6.2% | | 4.8% | |
| 3Y CAGR | 36.1% | 9.1% | 2.4% | 9.3% | 5.3% | | 4.7% | |
| Latest Twelve Months | 118.8% | 16.2% | 9.2% | 9.9% | 8.8% | | 12.4% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 30.0% | 50.4% | 68.5% | 58.6% | 50.3% | | 53.8% | |
| Prior Fiscal Year | 29.2% | 49.7% | 66.8% | 62.1% | 49.4% | | 50.0% | |
| Latest Fiscal Year | 33.0% | 47.7% | 68.3% | 64.3% | 49.3% | | 56.3% | |
| Latest Twelve Months | 53.5% | 47.7% | 68.3% | 64.3% | 52.5% | | 55.0% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 19.63x | 13.04x | 13.42x | 15.14x | 9.75x | | 10.37x | |
| EV / LTM EBIT | 36.7x | 27.3x | 19.7x | 23.5x | 18.6x | | 18.9x | |
| Price / LTM Sales | 21.93x | 10.88x | 19.97x | 15.43x | 10.73x | | 10.56x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 9.75x | 13.42x | 19.63x | | | | | |
| Historical EV / LTM Revenue | 7.12x | 8.28x | 13.85x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 8.81x | 9.27x | 9.73x | | | | | |
| (x) LTM Revenue | 163,124 | 163,124 | 163,124 | | | | | |
| (=) Implied Enterprise Value | 1,436,345 | 1,511,942 | 1,587,539 | | | | | |
| (-) Non-shareholder Claims * | 30,424 | 30,424 | 30,424 | | | | | |
| (=) Equity Value | 1,466,769 | 1,542,366 | 1,617,963 | | | | | |
| (/) Shares Outstanding | 1,040.4 | 1,040.4 | 1,040.4 | | | | | |
| Implied Value Range | 1,409.78 | 1,482.44 | 1,555.10 | | | | | |
| FX Rate: JPY/USD | 150.6 | 150.6 | 150.6 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 9.36 | 9.85 | 10.33 | | 11.95 | | | |
| Upside / (Downside) | -21.6% | -17.6% | -13.6% | | | | | |