| Select LTM Revenue Multiple | | | | | | | | |
| | | | | | | | |
| Benchmark Companies | | | |
| MOWI | NOAP | SPIR | MAS | AKBM | | ISLAX | |
| OB:MOWI | OB:NOAP | ATSE:SPIR | OB:MAS | OB:AKBM | | OB:ISLAX | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 6.3% | NM- | 4.2% | 22.2% | -4.2% | | NM- | |
| 3Y CAGR | 10.1% | NM- | 5.3% | 26.0% | -8.8% | | 38.0% | |
| Latest Twelve Months | 1.8% | NM | -9.4% | 1.5% | -40.7% | | -17.6% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | 14.3% | 3982.6% | -2.8% | 26.2% | 1.4% | | 12.4% | |
| Prior Fiscal Year | 17.8% | NA | 1.8% | 15.2% | 1.7% | | 22.7% | |
| Latest Fiscal Year | 14.9% | -306.7% | -0.7% | 8.9% | -3.3% | | 8.4% | |
| Latest Twelve Months | 14.9% | -306.7% | -5.0% | 8.9% | -3.3% | | 0.6% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 2.12x | 31.59x | 1.29x | 2.22x | 3.25x | | 2.67x | |
| EV / LTM EBIT | 14.3x | -10.3x | -25.7x | 24.9x | -98.1x | | 423.6x | |
| Price / LTM Sales | 1.69x | 24.44x | 0.32x | 1.26x | 2.54x | | 2.17x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 1.29x | 2.22x | 31.59x | | | | | |
| Historical EV / LTM Revenue | 2.80x | 3.32x | 6.37x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 2.70x | 2.84x | 2.98x | | | | | |
| (x) LTM Revenue | 128 | 128 | 128 | | | | | |
| (=) Implied Enterprise Value | 346 | 364 | 382 | | | | | |
| (-) Non-shareholder Claims * | (65) | (65) | (65) | | | | | |
| (=) Equity Value | 281 | 300 | 318 | | | | | |
| (/) Shares Outstanding | 31.0 | 31.0 | 31.0 | | | | | |
| Implied Value Range | 9.09 | 9.68 | 10.27 | | | | | |
| FX Rate: EUR/NOK | 0.1 | 0.1 | 0.1 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 103.21 | 109.89 | 116.57 | | 104.00 | | | |
| Upside / (Downside) | -0.8% | 5.7% | 12.1% | | | | | |