Haemato AG (HAEK.DE)

Industry: Drug Manufacturers - Specialty & Generic 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
SNDL	119	SNDL Inc.	690	-	-	-	-	-	-
ITCI	120	Intra-Cellular The	681	-	-	-	-	-	-
002773.SZ	121	Chengdu Kanghong P	662	27.28	24.60	20.41	18.11	22.34	18.98
001630.KS	122	Chong Kun Dang Hol	644	6.41	7.07	3.44	3.12	9.92	15.04
096760.KS	123	JW Holdings Corpor	634	5.20	5.20	1.80	1.16	2.85	3.34
600750.SS	124	Jiang Zhong Pharma	624	16.43	14.70	11.39	10.28	15.80	9.64
086450.KQ	125	DongKook Pharmaceu	606	13.83	13.95	7.22	6.95	8.71	9.48
HAEK.DE	126	Haemato AG	605	12.02	12.09	5.93	5.64	5.18	5.47
2HQ.DE	127	Tilray Brands, Inc	603	-	-	-	-	234.37	-
4547.T	128	Kissei Pharmaceuti	589	12.30	9.96	7.58	6.72	-	-
000153.SZ	129	Anhui Fengyuan Pha	588	26.38	24.36	24.05	25.66	72.99	32.39
3737.HK	130	Zhongzhi Pharmaceu	575	5.35	5.63	3.02	3.04	34.73	4.78
084110.KQ	131	Huons Global Co.,	559	22.93	24.49	1.93	1.55	7.83	6.36
AJANTPHARM.BO	132	Ajanta Pharma Limi	550	30.88	27.59	21.52	19.78	23.19	13.75
4559.T	133	Zeria Pharmaceutic	548	13.49	11.25	6.24	5.32	18.14	9.35
300119.SZ	134	Tianjin Ringpu Bio	548	23.00	21.55	17.13	16.00	25.56	21.21

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	13.66	12.60	6.73	6.02	16.97	9.48
Full Range Median Multiple	15.13	14.32	7.40	6.83	20.24	9.64
Industry Multiple	16.96	15.86	10.48	9.81	39.70	13.12
Market Implied Multiple	11.18	11.25	5.48	5.21	4.79	5.06
Company (HAEK.DE) Multiple	12.02	12.09	5.93	5.64	5.18	5.47
(*) Net Income / EBITDA / Revenue	12	12	22	23	25	23
Winsorized Enterprise Value	N/A	N/A	145	137	419	222
Full Range Median Enterprise Value	N/A	N/A	160	155	500	225
(-) Net Debt	-13	-13	-13	-13	-13	-13
Winsorized Equity Value	160	147	158	149	432	234
Full Range Median Equity Value	177	167	172	168	513	238
(/) Shares Outstanding	6	6	6	6	6	6
Winsorized Fair Value	$26.13	$23.97	$25.82	$24.40	$70.57	$38.31
Full Range Median Fair Value	$28.95	$27.25	$28.18	$27.42	$83.78	$38.92
Current Price	$21.40	$21.40	$21.40	$21.40	$21.40	$21.40
Upside / Downside	22.12%	12.02%	20.63%	14.02%	229.75%	79.02%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$18.29	$16.78	$18.07	$17.08	$49.40	$26.82
Buy / Don't Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	BUY	BUY