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    Comps - Qualified Assessment (Template)

    Uploaded by

    Prakash

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Comps - Qualified Assessment (Template)

    Uploaded by

    Prakash
    9 views10 pages

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

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    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    9 views10 pages

    Comps - Qualified Assessment (Template)

    Uploaded by

    Prakash

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 10

    Last Twelve Months (LTM)

    All figures in USD thousands unless stated

    2022A Revenue 25,925


    1Q 2023A Revenue 7,411
    2Q 2023A Revenue 7,218
    1Q 2022A Revenue 7,040
    2Q 2022A Revenue 6,424

    2022A Revenue 25,925


    2023A YTD Revenue 27,090
    2022A YTD Revenue
    LTM Revenue
    Normalization

    All figures in USD thousands unless stated

    Revenue 73,997
    Cost of Sales (52,169)
    Gross Profit 21,828

    Selling, General & Administrative (15,222)


    Operating Income (EBIT) 6,606

    Finance Cost, net (406)


    Finance, Other Non-Operating Income 123
    Earnings Before Tax (EBT) 6,323

    Taxes (1,776)
    Net Income 4,547

    Normalization Adjustments
    Amounts included in Operating (Income)/Expense 552
    Amounts included in Non-operating (Income)/Expense 42
    Tax Impact of Adjustments 149
    Depreciation & Amortization 1,215

    Normalized EBIT 7,158


    Depreciation & Amortization 1,215
    Normalized EBITDA 8,373
    Valuation

    All figures in USD millions unless stated

    Peer Companies EV / EBITDA

    Alpha.com 12.1x
    Big Bucks Company 10.2x
    Centibillions Inc. 10.4x
    Deep Pockets Ltd. 15.2x
    Evergreen Co. 11.0x
    Fat Cat Inc. 15.1x
    Median 11.6x

    Target Company Info


    EBITDA 1,120
    Net Debt 4,200
    Shares Outstanding (in millions) 73.0
    Net Income 622

    Enterprise Value 12,936


    Net Debt 4,200
    Implied Equity Value 8,736
    Shares Outstanding 73.0
    Implied Equity Value per Share 119.67
    Valuation

    All figures in USD millions unless stated

    Peer Companies P/E

    Alpha.com 15.1x
    Big Bucks Company 17.2x
    Centibillions Inc. 14.4x
    Deep Pockets Ltd. 21.2x
    Evergreen Co. 18.0x
    Fat Cat Inc. 21.1x
    Average 17.8x

    Target Company Info


    Earnings per Share 2.24
    Debt 3,111
    Cash 256
    Shares Outstanding (in millions) 125.0

    Implied Price per Share 39.95


    Implied Equity Value 4,993
    Net Debt 2,855
    Implied Enterprise Value 7,848
    Treasury Stock Method

    All figures in USD millions unless stated

    Number Share Exercise


    Options & Warrants Outstanding Price Price
    (mm) (USD/sh) (USD/sh)

    Stock Options - Tranche 1 11.00 24.55 22.50


    Stock Options - Tranche 2 9.00 24.55 24.50
    Stock Options - Tranche 3 7.00 24.55 25.00
    Stock Options - Tranche 4 5.00 24.55 28.00
    Total

    In-the-Money Options
    Less: Shares Repurchased by Treasury
    Number of Additional Shares Issued
    Options Number
    ITM? Exercised Proceeds
    (mm)

    Yes 11.0 247.5


    Yes 9.0 220.5
    No – –
    No – –
    20.0 468.0

    Amount
    (mm)

    468.0
    chased by Treasury 19.1
    onal Shares Issued 0.9

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