Parker-Hannifin Corporation (PH)

Industry: Industrial - Machinery 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
SIE.DE	3	Siemens AG	91,939	17.26	14.09	13.39	12.21	22.99	20.41
054300.KS	4	Panstar Enterprise	60,241	7.69	7.69	3.22	1.88	-	311.46
267250.KS	5	HD Hyundai Co., Lt	46,058	17.94	17.94	2.82	1.65	4.08	4.98
ETN	6	Eaton Corporation	31,273	37.05	30.09	25.94	22.20	28.60	26.17
7011.T	7	Mitsubishi Heavy I	31,109	51.47	16.28	23.14	19.61	58.18	27.72
WI4.VI	8	Weichai Power Co.,	30,707	11.45	10.85	4.26	4.02	4.97	5.07
0QO1.L	9	Schindler Holding	21,341	22.46	22.54	15.49	14.82	21.90	16.04
PH	10	Parker-Hannifin Co	20,030	26.34	21.06	18.96	15.98	25.57	21.81
009540.KS	11	Korea Shipbuilding	18,701	15.38	8.83	5.66	4.12	5.80	4.90
ATCO-A.ST	12	Atlas Copco AB	18,445	28.03	24.79	17.49	15.50	22.64	19.41
EMR	13	Emerson Electric C	18,015	32.35	31.37	17.33	16.04	33.71	26.20
601727.SS	14	Shanghai Electric	17,297	138.81	177.61	36.53	39.11	303.83	63.02
373220.KS	15	LG Energy Solution	17,042	-	-	17.06	17.06	43.13	77.93
6594.T	16	Nidec Corporation	16,801	16.91	14.40	8.41	7.43	15.42	11.20
CYD	17	China Yuchai Inter	16,172	16.66	17.31	4.87	4.76	5.17	9.95
ITW	18	Illinois Tool Work	15,883	25.06	23.31	18.20	17.07	18.85	18.64

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	17.60	16.80	13.39	12.21	20.38	18.64
Full Range Median Multiple	20.20	17.63	15.49	14.82	22.27	19.41
Industry Multiple	31.32	29.79	14.25	13.17	42.09	42.87
Market Implied Multiple	32.81	26.23	23.18	19.54	31.26	26.66
Company (PH) Multiple	26.34	21.06	18.96	15.98	25.57	21.81
(*) Net Income / EBITDA / Revenue	3,641	4,555	5,579	6,618	4,136	4,850
Winsorized Enterprise Value	N/A	N/A	74,696	80,788	84,279	90,416
Full Range Median Enterprise Value	N/A	N/A	86,414	98,100	92,123	94,146
(-) Net Debt	9,860	9,860	9,860	9,860	9,860	9,860
Winsorized Equity Value	64,078	76,510	64,836	70,928	74,419	80,556
Full Range Median Equity Value	73,541	80,286	76,554	88,240	82,263	84,286
(/) Shares Outstanding	127	127	127	127	127	127
Winsorized Fair Value	$506.54	$604.82	$512.53	$560.69	$588.29	$636.81
Full Range Median Fair Value	$581.35	$634.67	$605.17	$697.55	$650.30	$666.30
Current Price	$944.27	$944.27	$944.27	$944.27	$944.27	$944.27
Upside / Downside	-46.36%	-35.95%	-45.72%	-40.62%	-37.70%	-32.56%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$354.58	$423.37	$358.77	$392.48	$411.80	$445.76
Buy / Don't Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy	Don’t Buy