Fortress Capital Acquisition Corp. (FCAX)

Industry: Shell Companies Model: Peers Multiples Valuation

Valuation Snapshot

Ticker	Rank	Name	Rev TTM (M)	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
FCAX	1	Fortress Capital A	-	12.52	12.52	18.85	18.85	-	-
DHHCU	1	DiamondHead Holdin	134,812,063	0.00	0.00	0.00	0.00	-	0.00
ERES	2	East Resources Acq	111,923,915	36.43	36.43	40.69	40.69	12.04	0.00
VHNA	3	Vahanna Tech Edge	44,296,098	-	-	-	-	-	-
TBMC	4	Trailblazer Merger	2,210,630	-	-	-	-	-	-
ESAC	5	ESGEN Acquisition	47,693	-	-	-	-	-	-
SPFR	6	Jaws Spitfire Acqu	26,289	-	-	-	-	-	-
EFHT	7	EF Hutton Acquisit	25,185	-	-	-	-	-	-
EFHTR	8	EF Hutton Acquisit	25,185	-	-	-	-	-	-
EFHTW	9	EF Hutton Acquisit	25,185	-	-	-	-	-	-
BYTS	10	BYTE Acquisition C	23,056	-	-	-	-	-	-
ASPA	11	Abri SPAC I, Inc.	15,270	-	-	-	-	-0.13	-
VII	12	7GC & Co. Holdings	14,014	-	-	-	-	-	-
ANDAR	13	Andina Acquisition	11,879	-	-	-	-	-	-
AEHA	14	Aesther Healthcare	9,941	0.24	0.24	0.28	0.28	-	0.26
IOAC	15	Innovative Interna	9,106	-	-	-	-	-	-
AGBAR	16	AGBA Acquisition L	5,405	-	-	-	-	-	-

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	0.12	0.12	0.14	0.14	12.04	0.00
Full Range Median Multiple	0.24	0.24	0.28	0.28	12.04	0.00
Industry Multiple	12.22	12.22	13.65	13.65	12.04	0.09
Market Implied Multiple	12.75	12.75	19.19	19.19	-	-
Company (FCAX) Multiple	12.52	12.52	18.85	18.85	-	-
(*) Net Income / EBITDA / Revenue	40	40	26	26	-1	-2
Winsorized Enterprise Value	N/A	N/A	4	4	-17	0
Full Range Median Enterprise Value	N/A	N/A	7	7	-17	0
(-) Net Debt	0	0	0	0	0	0
Winsorized Equity Value	5	5	4	4	-17	0
Full Range Median Equity Value	10	10	7	7	-17	0
(/) Shares Outstanding	50	50	50	50	50	50
Winsorized Fair Value	$0.10	$0.10	$0.08	$0.08	$-0.34	$0.00
Full Range Median Fair Value	$0.19	$0.19	$0.15	$0.15	$-0.34	$0.00
Current Price	$10.13	$10.13	$10.13	$10.13	$10.13	$10.13
Upside / Downside	-99.04%	-99.04%	-99.26%	-99.26%	-103.35%	-99.98%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$0.07	$0.07	$0.05	$0.05	$-0.24	$0.00
Buy / Don't Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy