Vontier Corporation (VNT)

Industry: Hardware, Equipment & Parts 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
002841.SZ	65	Guangzhou Shiyuan	3,312	30.08	33.70	33.50	38.00	15.40	35.16
000062.SZ	66	Shenzhen Huaqiang	3,311	97.63	111.70	40.24	42.03	30.77	62.36
0710.HK	67	BOE Varitronix Lim	3,299	6.19	5.91	2.28	2.08	3.48	3.16
002179.SZ	68	AVIC Jonhon Optron	3,183	30.48	26.74	25.43	22.55	54.52	23.73
000049.SZ	69	Shenzhen Desay Bat	3,123	25.72	26.99	29.19	33.79	27.14	42.57
002456.SZ	70	OFILM Group Co., L	3,091	-	-	54.18	72.90	131.57	-
002916.SZ	71	Shennan Circuit Co	3,067	53.20	47.01	39.86	36.09	38.24	45.92
VNT	72	Vontier Corporatio	3,044	15.21	14.60	11.41	11.16	13.83	13.53
3017.TW	73	Asia Vital Compone	2,949	24.29	15.63	13.39	9.28	13.75	11.69
1206.HK	74	Technovator Intern	2,920	-	-	-	-	-	-
8499.TW	75	Top Bright Holding	2,846	22.99	24.59	11.79	11.72	16.39	19.68
TTMI	76	TTM Technologies,	2,783	44.59	46.59	15.65	14.40	19.05	21.53
BHE	77	Benchmark Electron	2,612	37.15	37.15	10.22	8.46	13.74	8.86
300115.SZ	78	Shenzhen Everwin P	2,604	87.90	75.83	39.62	36.52	59.41	45.72
002429.SZ	79	Shenzhen MTC Co.,	2,563	24.36	25.55	16.04	15.94	20.21	21.76
002463.SZ	80	Wus Printed Circui	2,532	40.89	33.68	35.00	29.63	29.97	29.66

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	30.08	26.99	20.73	19.24	19.63	21.76
Full Range Median Multiple	30.48	33.68	27.31	26.09	23.68	23.73
Industry Multiple	40.42	39.31	26.17	26.67	33.83	28.60
Market Implied Multiple	13.67	13.12	10.50	10.27	12.73	12.46
Company (VNT) Multiple	15.21	14.60	11.41	11.16	13.83	13.53
(*) Net Income / EBITDA / Revenue	406	423	691	706	570	582
Winsorized Enterprise Value	N/A	N/A	14,317	13,576	11,181	12,662
Full Range Median Enterprise Value	N/A	N/A	18,859	18,406	13,486	13,810
(-) Net Debt	1,700	1,700	1,700	1,700	1,700	1,700
Winsorized Equity Value	12,215	11,415	12,618	11,876	9,481	10,962
Full Range Median Equity Value	12,380	14,244	17,159	16,706	11,787	12,110
(/) Shares Outstanding	147	147	147	147	147	147
Winsorized Fair Value	$83.38	$77.92	$86.13	$81.07	$64.72	$74.83
Full Range Median Fair Value	$84.50	$97.23	$117.13	$114.03	$80.45	$82.66
Current Price	$37.88	$37.88	$37.88	$37.88	$37.88	$37.88
Upside / Downside	120.11%	105.69%	127.37%	114.01%	70.85%	97.53%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$58.36	$54.54	$60.29	$56.75	$45.30	$52.38
Buy / Don't Buy	BUY	BUY	BUY	BUY	BUY	BUY