Sayfa yüklenirken bir hata oluştu.
Teknik ekibimiz bilgilendirildi, ancak sorunun devam etmesi durumunda lütfen e-posta destek widget ile bize ulaşın.
Metrics | Range | Conclusion |
---|---|---|
Selected LTM EBIT Multiple | 14,4x - 16,0x | 15,2x |
Selected Fwd EBIT Multiple | 12,9x - 14,2x | 13,6x |
Fair Value | $54,02 - $61,07 | $57,54 |
Upside | -14,0% - -2,8% | -8,4% |
Benchmarks | Ticker | Full Ticker |
ManpowerGroup Inc. | MAN | NYSE:MAN |
Robert Half Inc. | RHI | NYSE:RHI |
Barrett Business Services, Inc. | BBSI | NasdaqGS:BBSI |
Kelly Services, Inc. | KELY.A | NasdaqGS:KELY.A |
Automatic Data Processing, Inc. | ADP | NasdaqGS:ADP |
TriNet Group, Inc. | TNET | NYSE:TNET |
- | - | - |
Select LTM EBIT Multiple | |||||||
Benchmark Companies | |||||||
MAN | RHI | BBSI | KELY.A | ADP | TNET | ||
NYSE:MAN | NYSE:RHI | NasdaqGS:BBSI | NasdaqGS:KELY.A | NasdaqGS:ADP | NYSE:TNET | ||
Historical EBIT Growth | |||||||
5Y CAGR | -12.9% | -15.6% | 3.4% | -5.0% | 11.1% | -1.5% | |
3Y CAGR | -16.5% | -31.2% | 10.8% | 10.2% | 12.1% | -18.7% | |
Latest Twelve Months | -21.3% | -49.4% | 12.0% | -7.5% | 9.4% | -49.1% | |
Historical EBIT Profit Margin | |||||||
5 Year Average Margin | 2.6% | 8.5% | 5.0% | 1.3% | 24.5% | 8.9% | |
Prior Fiscal Year | 2.4% | 7.3% | 5.7% | 1.4% | 25.9% | 9.9% | |
Latest Fiscal Year | 2.0% | 4.2% | 5.2% | 1.6% | 26.5% | 5.0% | |
Latest Twelve Months | 1.8% | 3.0% | 5.2% | 1.6% | 26.5% | 4.2% | |
Current Trading Multiples | |||||||
EV / LTM Revenue | 0.19x | 0.60x | 0.95x | 0.14x | 6.01x | 0.76x | |
EV / LTM EBITDA | 8.5x | 15.2x | 17.1x | 5.3x | 20.5x | 15.8x | |
EV / LTM EBIT | 10.4x | 20.2x | 18.2x | 8.6x | 22.7x | 18.1x | |
Low | Mid | High | |||||
Benchmark EV / LTM EBIT | 8.6x | 18.2x | 22.7x | ||||
Historical EV / LTM EBIT | 6.9x | 14.7x | 15.6x | ||||
Selected EV / LTM EBIT | 14.4x | 15.2x | 16.0x | ||||
(x) LTM EBIT | 208 | 208 | 208 | ||||
(=) Implied Enterprise Value | 3,003 | 3,161 | 3,319 | ||||
(-) Non-shareholder Claims * | (628) | (628) | (628) | ||||
(=) Equity Value | 2,375 | 2,533 | 2,691 | ||||
(/) Shares Outstanding | 48.6 | 48.6 | 48.6 | ||||
Implied Value Range | 48.88 | 52.13 | 55.38 | ||||
FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | Market Price | |||
Implied Value Range (Trading Cur) | 48.88 | 52.13 | 55.38 | 62.83 | |||
Upside / (Downside) | -22.2% | -17.0% | -11.9% |
Equity Waterfall | |||||||
Benchmark Companies | |||||||
(in millions) | MAN | RHI | BBSI | KELY.A | ADP | TNET | |
Enterprise Value | 3,274 | 3,230 | 1,130 | 604 | 124,423 | 3,681 | |
(+) Cash & Short Term Investments | 290 | 381 | 90 | 18 | 7,808 | 407 | |
(+) Investments & Other | 0 | 0 | 0 | 0 | 0 | 0 | |
(-) Debt | (1,723) | (244) | (26) | (134) | (9,206) | (1,035) | |
(-) Other Liabilities | (1) | 0 | 0 | 0 | 0 | 0 | |
(-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
(-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
Value of Common Equity | 1,841 | 3,367 | 1,195 | 488 | 123,026 | 3,053 | |
(/) Shares Outstanding | 46.3 | 100.0 | 25.7 | 35.3 | 405.1 | 48.6 | |
Implied Stock Price | 39.76 | 33.68 | 46.52 | 13.85 | 303.72 | 62.83 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 39.76 | 33.68 | 46.52 | 13.85 | 303.72 | 62.83 | |
Trading Currency | USD | USD | USD | USD | USD | USD | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |