Footasylum: Pre-IPO Diagnostic, October 2017
UPDATE 27/10/2017: Footasylum will float 37% of its shares with a market cap of £171m on AIM Nov 2, 2017. Source: FT.com
The downloadable report has been updated to reflect this.
Actual Multiples (2017 AR): Revenue x1.16, EBITDA x15.4 (compared to our predictions of Revenue x2.1-2.4, EBITDA x30-35)
Footasylum has announced its intention to float on the AIM market with a money circulating at around £150m. Our view is a market cap of £300-350m.
A healthy company with potential?
We have analysed Footasylum to give our view on the growth potential of the business and some hints on a possible valuation.
The company operate high street stores, online and also produce its own brands. However, gross margin is relatively low which would indicate some discounting and that its own brands are either underpriced or not very popular.
Footasylum has excellent pedigree with two of the founders of JD Sports starting the company in 2005. However, the two had already in 2003 started Projekts NYC, possibly forecasting they would be selling their JD Sports holdings.
This report is a 5-page executive report from Styleintelligence looking closer at Footasylum and its overall performance compared to a number of competitors.
This is a FREE DOWNLOAD (NO CARD DETAILS REQUIRED) five-page Diagnostic report outlining new revenue stream suggestions.
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