このページの読み込み中にエラーが発生したようです.
当社チームに通知しましたが、問題が続くようでしたらEメールサポートウィジェットを使ってご連絡ください。
| Metrics | Range | Conclusion |
|---|---|---|
| Selected LTM EBIT Multiple | 23.7x - 26.2x | 24.9x |
| Selected Fwd EBIT Multiple | 19.8x - 21.9x | 20.8x |
| Fair Value | €123.23 - €136.20 | €129.71 |
| Upside | 37.0% - 51.4% | 44.2% |
| Benchmarks | Ticker | Full Ticker |
| Evonik Industries AG | EVK | XTRA:EVK |
| BASF SE | BAS | XTRA:BAS |
| K+S Aktiengesellschaft | SDF | XTRA:SDF |
| Robertet SA | 0R7 | DB:0R7 |
| Akzo Nobel N.V. | AKU1 | DB:AKU1 |
| Symrise AG | SY1 | DB:SY1 |
| - | - | - |
| Select LTM EBIT Multiple | |||||||
| Benchmark Companies | |||||||
| EVK | BAS | SDF | 0R7 | AKU1 | SY1 | ||
| XTRA:EVK | XTRA:BAS | XTRA:SDF | DB:0R7 | DB:AKU1 | DB:SY1 | ||
| Historical EBIT Growth | |||||||
| 5Y CAGR | -6.9% | -5.1% | NM- | 9.8% | 1.8% | 8.7% | |
| 3Y CAGR | -13.2% | -27.3% | NM- | 15.7% | -4.7% | 13.1% | |
| Latest Twelve Months | 37.4% | 0.8% | -112.1% | 16.8% | -11.1% | 34.0% | |
| Historical EBIT Profit Margin | |||||||
| 5 Year Average Margin | 6.9% | 6.3% | 8.6% | 14.5% | 9.8% | 12.8% | |
| Prior Fiscal Year | 4.0% | 4.1% | 9.3% | 14.6% | 10.0% | 11.3% | |
| Latest Fiscal Year | 5.5% | 4.4% | -1.2% | 15.3% | 8.8% | 14.4% | |
| Latest Twelve Months | 5.5% | 4.4% | -1.2% | 16.0% | 8.8% | 14.4% | |
| Current Trading Multiples | |||||||
| EV / LTM Revenue | 0.82x | 0.91x | 0.65x | 2.22x | 1.31x | 2.98x | |
| EV / LTM EBITDA | 7.3x | 9.5x | 5.6x | 11.5x | 11.6x | 15.2x | |
| EV / LTM EBIT | 14.9x | 20.7x | -54.3x | 13.8x | 14.9x | 20.7x | |
| Low | Mid | High | |||||
| Benchmark EV / LTM EBIT | -54.3x | 14.9x | 20.7x | ||||
| Historical EV / LTM EBIT | 20.7x | 29.9x | 42.5x | ||||
| Selected EV / LTM EBIT | 23.7x | 24.9x | 26.2x | ||||
| (x) LTM EBIT | 718 | 718 | 718 | ||||
| (=) Implied Enterprise Value | 17,003 | 17,898 | 18,793 | ||||
| (-) Non-shareholder Claims * | 0 | 0 | 0 | ||||
| (=) Equity Value | 17,003 | 17,898 | 18,793 | ||||
| (/) Shares Outstanding | 139.8 | 139.8 | 139.8 | ||||
| Implied Value Range | 121.65 | 128.05 | 134.45 | ||||
| FX Rate: EUR/EUR | 1.0 | 1.0 | 1.0 | Market Price | |||
| Implied Value Range (Trading Cur) | 121.65 | 128.05 | 134.45 | 89.94 | |||
| Upside / (Downside) | 35.3% | 42.4% | 49.5% | ||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | EVK | BAS | SDF | 0R7 | AKU1 | SY1 | |
| Enterprise Value | 12,525 | 59,479 | 2,193 | 1,711 | 14,087 | 12,571 | |
| (+) Cash & Short Term Investments | 618 | 3,683 | 524 | 195 | 1,467 | 0 | |
| (+) Investments & Other | 509 | 6,975 | 271 | 4 | 228 | 0 | |
| (-) Debt | (3,781) | (23,995) | (746) | (334) | (5,368) | 0 | |
| (-) Other Liabilities | (80) | (1,284) | (4) | (1) | (242) | 0 | |
| (-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 9,791 | 44,858 | 2,239 | 1,574 | 10,172 | 12,571 | |
| (/) Shares Outstanding | 466.0 | 892.5 | 179.1 | 2.0 | 170.8 | 139.8 | |
| Implied Stock Price | 21.01 | 50.26 | 12.50 | 806.00 | 59.56 | 89.94 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 21.01 | 50.26 | 12.50 | 806.00 | 59.56 | 89.94 | |
| Trading Currency | EUR | EUR | EUR | EUR | EUR | EUR | |
| FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |