Manufacturing. Accelerated.
Select peers valuation benchmarking
EV / CY'21E
Revenue
Advanced manufacturing Tech-enabled industrials
AM average CY'21E: 7.7x
12.9x
EV / CY'21E
EBITDA (3)
3.1x (1)
1.9x (1)
2024E
2025E
13.7x (1)
6.8x (1)
7.9x
7.4x
AM average CY'21E: 44.6x
59.2x
5.7x
5.2x
ויוי
6.8x
6.9x
14.8x
TE average CY'21E: 9.4x
13.5x
37.6x
35.4x
30.1x
30.0x
21.8x
44.4x
Legacy AM
LAM average CY'21E: 1.1x
Overall average CY'21E(2): 9.0x
1.3x
0.9x
TE average CY'21E: 30.0x
LAM average CY'21E: 11.1x
Overall average CY'21E (2): 33.3x
23.2x
17.8x
12.0x
10.1x
UNIVERSAL DISPLAY
CORPORATION™
PROTOLABS
A AUTODESK
AXON
Manufacturing. Accelerated.
✓ ptc
COGNEX
RENISHAW
AMETEK®
stratasys
3D SYSTEMS
2024E
2025E
D Desktop Metal
materialise
innovators you can count on
Enterprise value based on 1.9x 2025E revenue.
1.
2.
Overall average excludes Legacy AM players.
3.
D Desktop Metal
Presented financial data not inclusive of estimated public company-related costs of approximately $6M per year.
4.
Source: Desktop Metal projections based on management estimates; peer projections based on company filings and FactSet as of August 25, 2020.
5.
Peers are ordered in descending CY`19A — CY`21E revenue CAGR.
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