NB Private Equity Partners Limited (NBPU.L)

Industry: Investment - Banking & Investment 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
SAZ	14	Saratoga Investmen	104	12.06	12.48	0.64	0.48	14.25	20.70
URB-A.CN	15	Urbana Corporation	82	3.16	1.53	2.98	1.37	1.77	1.37
041190.KQ	16	Woori Technology I	73	3.18	1.67	2.61	1.01	1.03	2.61
0030.HK	17	YNBY International	70	-	-	-	-	11.33	-
IMCAP.BO	18	IM+ Capitals Limit	67	8.20	3.53	9.09	4.32	12.55	3.94
AITA.MU	19	Asia Plus Group Ho	65	19.80	21.56	15.47	16.75	9.97	22.57
ALSL.BO	20	Alacrity Securitie	60	16.34	16.34	13.41	5.16	5.40	30.96
NBPU.L	21	NB Private Equity	59	20.30	20.30	15.87	15.87	6.43	16.78
MASTERTR.BO	22	Master Trust Limit	58	14.21	9.78	7.96	4.40	7.81	6.81
AKCAPIT.BO	23	A. K. Capital Serv	54	7.15	6.32	1.82	1.35	1.73	1.54
0952.HK	24	Quam Plus Internat	50	-	-	118.30	161.61	8.09	6.05
WHFCL	25	WhiteHorse Finance	50	16.31	20.68	10.86	13.62	-	13.62
GECCZ	26	Great Elm Capital	47	-	-	-	-	-	-
AARNAV.BO	27	Aarnav Fashions Lt	43	20.99	16.30	6.43	4.18	9.89	6.44
GLADZ	28	Gladstone Capital	40	-	-	60.32	60.32	-	330.96
6021.TWO	29	Good Finance Secur	38	-	-	139.70	139.70	68.42	67.76

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	12.06	9.78	7.96	4.32	7.95	6.44
Full Range Median Multiple	13.13	11.13	9.09	4.40	8.99	6.81
Industry Multiple	12.14	11.02	29.97	31.87	12.69	39.64
Market Implied Multiple	22.64	22.64	17.60	17.60	7.13	18.61
Company (NBPU.L) Multiple	20.30	20.30	15.87	15.87	6.43	16.78
(*) Net Income / EBITDA / Revenue	60	60	82	82	202	77
Winsorized Enterprise Value	N/A	N/A	653	354	1,609	499
Full Range Median Enterprise Value	N/A	N/A	745	361	1,819	528
(-) Net Debt	73	73	73	73	73	73
Winsorized Equity Value	729	591	579	281	1,535	426
Full Range Median Equity Value	794	673	671	288	1,746	454
(/) Shares Outstanding	63	63	63	63	63	63
Winsorized Fair Value	$11.59	$9.39	$9.21	$4.47	$24.40	$6.76
Full Range Median Fair Value	$12.62	$10.69	$10.67	$4.57	$27.75	$7.22
Current Price	$21.75	$21.75	$21.75	$21.75	$21.75	$21.75
Upside / Downside	-46.74%	-56.83%	-57.67%	-79.47%	12.19%	-68.90%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$8.11	$6.57	$6.44	$3.13	$17.08	$4.73
Buy / Don't Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy