Investor Presentaiton
News Corp Select Trading Comps
Digital Real Estate
26.9x
26.4x
22.4x
21.3x
EV/
Mean
EBITDA (x)
NTM: 18.4x
2023E: 18.7x
17.0x
16.9x
16.4x
15.0x
15.8x
15.0x
14.8x
14.1x
Price /
Earnings (x)
38.9x
36.6x
34.3x
33.5x
32.9x
31.8x
Mean
NTM: 29.5x
2023E: 30.2x
7.2%
Free Cash Flow
Yield (%)
Mean
NTM: 4.2%
2023E: 3.6%
28.8x
26.6x
25.7x
4.6%
25.1x
22.1x
4.5%
4.6%
22.0x
4.2%
4.1%
3.3%
3.1%
3.1%
2.6%
2.8% 2.6%
hemnet
REA Group rightmove
2 Zillow Domain Group
Scout24
REA Group Ohemnet 2 Zillow
Domain Group Scout24
rightmove
2 Zillow
rightmove
Scout24 Domain Group
Ohemnet
REA Group
Business and Information Services
EV /
EBITDA (x)
Mean
NTM: 19.7x
Price /
Earnings (x)
Mean
NTM: 29.5x
2023E: 29.2x
2023E: 19.6x
36.0x
25.0x
24.3x
23.7x
23.4x
19.6x
19.4x
19.4x
19.1x
16.2x
16.1x 15.1x
14.9x
35.0x
31.5x
31.1x
31.1x
30.8x
29.9x
29.2x
27.9x
27.4x
21.1x
20.9x
4.9%
4.6%
4.3%
4.2%
Free Cash Flow
Yield (%)
Mean
NTM: 3.6%
2023E: 3.7%
3.7%
3.6%
3.6%
3.5%
3.1%
3.2%
The
The
The
FACTSET MOODY'S
S&P Global
THOMSON
REUTERS
New York
Times
& RELX
MOODY'S
THOMSON
REUTERS
New York
Times
FACTSET S&P Global
& RELX
New York
Times
& RELX
THOMSON
REUTERS
NTM
2023E
NTM
2023E
Source: FactSet Research Systems, S&P Capital IQ, Bloomberg and Company Press Releases
IRENIC Note: Analysis prepared by 3rd-party investment bank
2.5%
2.5%
S&P Global FACTSET MOODY'S
NTM
2023E
PAGE 49View entire presentation