| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| NSP | HSII | RHI | BBSI | RGP | | KFY | |
| NYSE:NSP | NasdaqGS:HSII | NYSE:RHI | NasdaqGS:BBSI | NasdaqGS:RGP | | DB:KFY | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 8.8% | 9.2% | -0.9% | 4.0% | -2.8% | | 7.5% | |
| 3Y CAGR | 9.8% | 3.1% | -3.6% | 6.2% | 0.2% | | 15.1% | |
| Latest Twelve Months | 1.5% | 7.0% | -9.3% | 7.0% | -17.4% | | -3.4% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 3.7% | 9.0% | 9.0% | 5.0% | 7.2% | | 12.5% | |
| Prior Fiscal Year | 3.4% | 8.2% | 7.3% | 5.7% | 9.7% | | 12.7% | |
| Latest Fiscal Year | 1.8% | 6.9% | 4.2% | 5.2% | 4.8% | | 9.8% | |
| Latest Twelve Months | 1.8% | 6.9% | 4.2% | 5.2% | 3.0% | | 11.6% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.41x | 0.37x | 0.88x | 0.85x | 0.28x | | 1.21x | |
| EV / LTM EBIT | 23.0x | 5.4x | 21.1x | 16.2x | 9.3x | | 10.4x | |
| Price / LTM Sales | 0.50x | 0.79x | 0.93x | 0.93x | 0.37x | | 1.30x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.28x | 0.41x | 0.88x | | | | | |
| Historical EV / LTM Revenue | 0.80x | 1.06x | 2.09x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 1.00x | 1.05x | 1.11x | | | | | |
| (x) LTM Revenue | 2,709 | 2,709 | 2,709 | | | | | |
| (=) Implied Enterprise Value | 2,709 | 2,851 | 2,994 | | | | | |
| (-) Non-shareholder Claims * | 274 | 274 | 274 | | | | | |
| (=) Equity Value | 2,982 | 3,125 | 3,268 | | | | | |
| (/) Shares Outstanding | 51.6 | 51.6 | 51.6 | | | | | |
| Implied Value Range | 57.75 | 60.51 | 63.27 | | | | | |
| FX Rate: USD/EUR | 1.1 | 1.1 | 1.1 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 53.46 | 56.01 | 58.57 | | 63.50 | | | |
| Upside / (Downside) | -15.8% | -11.8% | -7.8% | | | | | |