Cazoo SPAC Presentation Deck
Cazoo's valuation is attractive on a growth-adjusted basis
2022F
EV / Revenue
2022F
EV / GP
2023F
EV / Revenue
2023F
EV / GP
1.8 x
2.4 x
CAZOO
15.9 x
31.8 x
0.9 x
1.3 x
6.3 x
12.6 x
11.2 x
4.1 x
CARVANA
56.5 x
25.8 X
8.2 x
3.0 x
39.0 x
17.8 x
2.0 x
1.0 x
Vroom
14.0 x
10.8 x
1.4 x
0.7 x
8.7 x
6.7 x
24.1 x
4.9 x
High Growth Internet¹
50.9 x
15.4 x
19.6 x
3.4 x
35.5 x
10.7 x
13.1 x
2.3 x
Inv. Carrying E-Comm.²
35.8 x
6.5 X
11.3 x
1.9 x
31.0 x
5.6 x
X Growth Adj. Multiple (3)
Note: These forward-looking projections are for illustrative purposes and should not be relied upon as being necessarily indicative of future results. Source: Company Information, CapitalIQ and IBES Consensus Estimates;
Market data as of 19-Mar-2021. Note: Aggregate values based on medians. [1] Includes CarGurus, Etsy, MercadoLibre, The Realreal, Shopify, Zillow, and Amazon. [2] Includes Chewy, Revolve, Stitch Fix, Wayfair, Zalando,
ASOS, Boohoo, Ocado. [3] Calculated as Multiple divided by 21E-23E growth multiplied by 100.
CAZOO Investor Presentation - March 2021
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