IDT Corporation (IDT)

Industry: Telecommunications Services 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
NOS.LS	106	Nos, S.g.p.s., S.a	2,096	8.03	6.45	5.27	4.58	10.64	7.26
9449.T	107	GMO Internet, Inc.	1,832	21.88	19.08	5.85	5.07	7.06	6.55
HCHC	108	HC2 Holdings, Inc.	1,764	-	-	-	-	-	-
0315.HK	109	SmarTone Telecommu	1,603	5.12	5.59	0.89	0.87	2.79	2.72
CABO	110	Cable One, Inc.	1,525	-	-	33.49	46.55	10.86	-
ABB.AX	111	Aussie Broadband L	1,444	19.28	19.28	5.35	5.35	9.01	7.90
002929.SZ	112	Runjian Co., Ltd.	1,407	-	-	147.66	161.27	-	-
IDT	113	IDT Corporation	1,245	15.71	12.98	10.49	9.50	7.89	7.07
0215.HK	114	Hutchison Telecomm	1,230	-	-	1.95	2.28	0.75	0.92
CNU.AX	115	Chorus Limited	1,168	-	-	5.14	4.98	14.44	7.02
HTWS.L	116	Helios Towers plc	1,097	20.72	20.72	8.86	8.86	13.24	14.49
CNSL	117	Consolidated Commu	1,090	-	-	10.70	11.91	-	-
BHARTIHEXA.NS	118	Bharti Hexacom Lim	1,009	53.82	53.82	18.72	18.72	34.24	28.56
PTNR.TA	119	Partner Communicat	1,008	15.67	9.95	4.26	3.86	13.57	10.19
OIBR4.SA	120	Oi S.A.	975	-	-	7.40	7.40	-	-
CCOI	121	Cogent Communicati	968	-	-	21.66	21.40	-	-

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	15.67	9.95	5.60	5.21	10.64	7.02
Full Range Median Multiple	19.28	19.08	6.62	6.38	10.75	7.26
Industry Multiple	20.65	19.27	19.80	21.65	11.66	9.51
Market Implied Multiple	15.52	12.82	10.32	9.35	7.76	6.96
Company (IDT) Multiple	15.71	12.98	10.49	9.50	7.89	7.07
(*) Net Income / EBITDA / Revenue	81	98	92	101	122	136
Winsorized Enterprise Value	N/A	N/A	514	528	1,300	956
Full Range Median Enterprise Value	N/A	N/A	608	647	1,313	989
(-) Net Debt	-312	-312	-312	-312	-312	-312
Winsorized Equity Value	1,273	978	826	841	1,613	1,268
Full Range Median Equity Value	1,566	1,876	921	959	1,625	1,302
(/) Shares Outstanding	25	25	25	25	25	25
Winsorized Fair Value	$50.53	$38.83	$32.82	$33.39	$64.03	$50.36
Full Range Median Fair Value	$62.18	$74.50	$36.56	$38.08	$64.55	$51.69
Current Price	$50.04	$50.04	$50.04	$50.04	$50.04	$50.04
Upside / Downside	0.99%	-22.41%	-34.41%	-33.28%	27.96%	0.65%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$35.37	$27.18	$22.97	$23.37	$44.82	$35.25
Buy / Don't Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy