Valid Soluções S.A. (VLID3.SA)

Industry: Specialty Business 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
4658.T	79	Nippon Air conditi	421	11.91	10.44	6.35	5.80	9.48	6.50
KGH.L	80	Knights Group Hold	417	7.00	7.00	4.00	4.00	8.82	6.25
4384.T	81	Raksul Inc.	398	27.18	27.18	11.00	11.00	23.39	19.64
7987.T	82	Nakabayashi Co., L	397	8.92	8.58	6.57	7.05	11.23	8.80
SIQ.AX	83	Smartgroup Corpora	396	6.53	3.80	4.26	3.03	4.44	3.16
9368.T	84	Kimura Unity Co.,	393	10.29	8.55	3.58	3.06	6.23	5.14
BEG.L	85	Begbies Traynor Gr	388	19.39	15.44	4.67	3.79	3.43	4.29
VLID3.SA	86	Valid Soluções S	384	6.95	6.95	3.18	1.95	6.75	5.16
ALEAC.PA	87	EdiliziAcrobatica	375	-	-	-	-	11.38	8.09
SUUMAYA.BO	88	Suumaya Corp. Ltd.	372	54.83	54.83	4.86	4.86	-	7.05
OPCT3.SA	89	OceanPact Serviço	370	20.65	20.65	3.68	2.44	4.65	6.00
605108.SS	90	Tongqinglou Cateri	362	110.15	142.29	48.70	53.98	-	78.30
DLHC	91	DLH Holdings Corp.	360	18.36	20.16	6.51	5.82	15.96	10.51
MIL.AX	92	Millennium Service	359	25.57	25.57	4.01	4.01	5.97	9.90
1586.HK	93	China Leon Inspect	352	9.17	7.84	2.98	2.31	4.95	2.92
FRAN.L	94	Franchise Brands p	349	18.45	11.49	6.02	3.12	10.45	6.31

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	15.14	10.96	4.46	3.90	6.23	6.31
Full Range Median Multiple	18.40	13.46	4.77	4.00	8.82	6.50
Industry Multiple	24.89	25.99	8.37	8.16	9.26	12.19
Market Implied Multiple	6.94	6.94	3.18	1.95	6.74	5.16
Company (VLID3.SA) Multiple	6.95	6.95	3.18	1.95	6.75	5.16
(*) Net Income / EBITDA / Revenue	43	43	101	165	48	62
Winsorized Enterprise Value	N/A	N/A	451	641	297	393
Full Range Median Enterprise Value	N/A	N/A	482	659	420	405
(-) Net Debt	20	20	20	20	20	20
Winsorized Equity Value	657	476	431	621	277	373
Full Range Median Equity Value	798	584	461	639	400	385
(/) Shares Outstanding	14	14	14	14	14	14
Winsorized Fair Value	$46.07	$33.37	$30.21	$43.58	$19.41	$26.19
Full Range Median Fair Value	$56.01	$40.98	$32.37	$44.83	$28.07	$26.99
Current Price	$21.13	$21.13	$21.13	$21.13	$21.13	$21.13
Upside / Downside	118.01%	57.91%	42.99%	106.26%	-8.13%	23.95%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$32.25	$23.36	$21.15	$30.51	$13.59	$18.33
Buy / Don't Buy	BUY	BUY	BUY	BUY	Don’t Buy	Don’t Buy