Fleury S.A. (FLRY3.SA)

Industry: Medical - Diagnostics & Research 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
QIA.DE	19	Qiagen N.V.	2,432	23.67	20.37	12.62	11.54	20.06	19.52
MEDP	20	Medpace Holdings,	2,358	34.47	26.86	28.39	22.62	26.07	22.80
DASA3.SA	21	Diagnósticos da A	2,277	-	-	3.95	3.15	5.84	6.20
HLS.AX	22	Healius Limited	2,041	-	-	-	-	-	32.34
RDNT	23	RadNet, Inc.	1,970	-	-	28.09	26.96	61.49	105.52
4544.T	24	H.U. Group Holding	1,574	133.25	133.25	8.55	7.90	61.88	91.37
300244.SZ	25	Dian Diagnostics G	1,491	-	-	20.46	25.74	16.43	-
FLRY3.SA	26	Fleury S.A.	1,462	14.65	11.43	6.25	4.99	9.75	9.48
SHC	27	Sotera Health Comp	1,150	80.62	80.62	15.11	14.35	14.50	16.81
2268.HK	28	WuXi XDC Cayman In	1,119	25.83	25.83	23.87	23.87	16.20	26.58
603108.SS	29	Shanghai Runda Med	1,051	-	-	34.56	39.91	98.44	270.99
ACL.AX	30	Australian Clinica	947	8.81	8.81	3.70	3.70	1.36	1.80
4694.T	31	BML, Inc.	935	20.12	18.61	3.72	3.44	6.05	6.52
300347.SZ	32	Hangzhou Tigermed	931	81.58	99.25	39.24	36.22	74.45	416.09
GH	33	Guardant Health, I	903	-	-	-	-	-	-
NEOG	34	Neogen Corporation	887	-	-	-	-	-	614.66

Line Item	Trailing P/E	Forward P/E	Trailing EV/EBITDA	Forward EV/EBITDA	Trailing EV/EBIT	Forward EV/EBIT
Winsorized Median Multiple	24.75	23.10	13.86	12.94	16.32	22.80
Full Range Median Multiple	30.15	26.35	17.78	18.48	18.25	26.58
Industry Multiple	51.04	51.70	18.52	18.28	33.56	125.48
Market Implied Multiple	14.01	10.93	6.08	4.86	9.49	9.23
Company (FLRY3.SA) Multiple	14.65	11.43	6.25	4.99	9.75	9.48
(*) Net Income / EBITDA / Revenue	109	139	414	518	265	273
Winsorized Enterprise Value	N/A	N/A	5,744	6,709	4,331	6,223
Full Range Median Enterprise Value	N/A	N/A	7,369	9,582	4,843	7,255
(-) Net Debt	995	995	995	995	995	995
Winsorized Equity Value	2,692	3,220	4,748	5,714	3,336	5,228
Full Range Median Equity Value	3,279	3,673	6,374	8,587	3,848	6,260
(/) Shares Outstanding	99	99	99	99	99	99
Winsorized Fair Value	$27.27	$32.62	$48.10	$57.89	$33.79	$52.96
Full Range Median Fair Value	$33.22	$37.20	$64.57	$86.99	$38.98	$63.42
Current Price	$15.43	$15.43	$15.43	$15.43	$15.43	$15.43
Upside / Downside	76.71%	111.41%	211.75%	275.16%	118.99%	243.23%
Safety Margin	30.0%	30.0%	30.0%	30.0%	30.0%	30.0%
Buy Price	$19.09	$22.83	$33.67	$40.52	$23.65	$37.07
Buy / Don't Buy	BUY	BUY	BUY	BUY	BUY	BUY