| Select LTM Revenue Multiple | | | | | | | | |
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| Benchmark Companies | | | |
| RPM | FUL | SHW | CE | ASH | | PPQ | |
| NYSE:RPM | NYSE:FUL | NYSE:SHW | NYSE:CE | NYSE:ASH | | DB:PPQ | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 5.7% | 4.3% | 5.2% | 10.3% | -0.3% | | 0.9% | |
| 3Y CAGR | 6.3% | 2.9% | 5.0% | 6.4% | 0.0% | | -1.9% | |
| Latest Twelve Months | 0.1% | 1.6% | 0.2% | -6.0% | -4.4% | | -2.4% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 11.1% | 9.7% | 14.7% | 15.0% | 8.2% | | 11.7% | |
| Prior Fiscal Year | 10.5% | 11.5% | 15.7% | 10.5% | 7.6% | | 13.5% | |
| Latest Fiscal Year | 12.1% | 10.7% | 16.3% | 10.6% | 8.1% | | 14.2% | |
| Latest Twelve Months | 12.6% | 10.7% | 16.3% | 10.6% | 8.4% | | 14.2% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 2.31x | 1.38x | 4.27x | 1.73x | 1.96x | | 1.92x | |
| EV / LTM EBIT | 18.4x | 12.8x | 26.1x | 16.4x | 23.3x | | 13.6x | |
| Price / LTM Sales | 2.03x | 0.82x | 3.75x | 0.64x | 1.38x | | 1.60x | |
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| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 1.38x | 1.96x | 4.27x | | | | | |
| Historical EV / LTM Revenue | 1.92x | 2.27x | 2.90x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 1.85x | 1.95x | 2.05x | | | | | |
| (x) LTM Revenue | 15,845 | 15,845 | 15,845 | | | | | |
| (=) Implied Enterprise Value | 29,359 | 30,904 | 32,449 | | | | | |
| (-) Non-shareholder Claims * | (4,890) | (4,890) | (4,890) | | | | | |
| (=) Equity Value | 24,469 | 26,014 | 27,559 | | | | | |
| (/) Shares Outstanding | 227.0 | 227.0 | 227.0 | | | | | |
| Implied Value Range | 107.80 | 114.61 | 121.42 | | | | | |
| FX Rate: USD/EUR | 1.1 | 1.1 | 1.1 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 100.26 | 106.59 | 112.92 | | 104.90 | | | |
| Upside / (Downside) | -4.4% | 1.6% | 7.6% | | | | | |