Joint Stock Company "World Trade Center Moscow" (WTCM.ME)

Industry: Real Estate - 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
DINEA.MX	198	DINE, S.A.B. de C.	249	57.02	57.02	21.19	21.19	453.66	21.52
2278.HK	199	Hailan Holdings Li	248	-	-	7.08	7.08	-	8.43
1895.HK	200	Xinyuan Property M	246	1.89	1.89	0.42	0.42	0.37	0.44
TRIS3.SA	201	Trisul S.A.	246	6.18	5.83	5.68	5.27	8.39	6.83
1153.HK	202	Jiayuan Services H	243	2.69	2.69	2.00	2.00	0.74	1.03
000058.SZ	203	Shenzhen SEG Co.,L	238	130.83	120.62	41.87	43.40	58.89	71.38
BRML3.SA	204	BR Malls Participa	237	-	-	3.35	2.13	5.80	2.58
WTCM.ME	205	Joint Stock Compan	235	1.58	1.42	1.67	1.81	0.69	0.59
RAV.L	206	Raven Property Gro	230	4.45	4.45	6.27	5.97	4.35	6.06
CY6U.SI	207	CapitaLand India T	225	3.63	3.16	17.22	19.13	16.09	18.96
BLSR.TA	208	Blue Square Real E	224	5.12	4.15	7.58	6.12	10.94	10.49
3294.T	209	e'grand Co.,Ltd	223	7.85	7.25	12.17	11.21	6.97	11.52
8864.T	210	Airport Facilities	220	28.73	28.15	7.26	6.06	15.09	12.64
600724.SS	211	Ningbo Fuda Compan	219	32.76	36.11	19.68	23.00	30.33	29.65
3467.T	212	Agratio urban desi	215	7.24	5.17	10.14	7.50	8.06	7.92
3452.T	213	B-Lot Company Limi	212	9.84	8.58	13.21	11.35	11.77	12.22

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	6.18	5.17	7.26	6.12	8.23	8.43
Full Range Median Multiple	7.24	5.83	7.58	7.08	9.67	10.49
Industry Multiple	22.94	21.93	11.67	11.45	45.10	14.78
Market Implied Multiple	1.84	1.65	2.35	2.55	0.98	0.83
Company (WTCM.ME) Multiple	1.58	1.42	1.67	1.81	0.69	0.59
(*) Net Income / EBITDA / Revenue	92	103	35	32	84	98
Winsorized Enterprise Value	N/A	N/A	252	196	689	825
Full Range Median Enterprise Value	N/A	N/A	263	227	809	1,026
(-) Net Debt	-88	-88	-88	-88	-88	-88
Winsorized Equity Value	571	534	340	284	777	913
Full Range Median Equity Value	669	601	351	315	897	1,114
(/) Shares Outstanding	12	12	12	12	12	12
Winsorized Fair Value	$48.99	$45.75	$29.19	$24.34	$66.60	$78.28
Full Range Median Fair Value	$57.35	$51.50	$30.11	$27.00	$76.94	$95.56
Current Price	$14.56	$14.56	$14.56	$14.56	$14.56	$14.56
Upside / Downside	236.48%	214.20%	100.45%	67.18%	357.43%	437.65%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$34.29	$32.02	$20.43	$17.04	$46.62	$54.80
Buy / Don't Buy	BUY	BUY	BUY	BUY	BUY	BUY