ABCDEFGHIJKLMNOPQRSTUVWXYZ
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1Valuation based on EBITDA
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EntryExit
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Y1Y2Y3Y4Y5
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EqV / EBITDA multiplier (1) 8,0x 8,0x 8,0x 8,0x 8,0x
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Cost of Capital - - 3 001 124 452 333 232
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Investor's share, %15,0%15,0%15,0%15,0%15,0%15,0%
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Investor's share, $k 4 424 - - 450 18 668 49 985
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Dividend payout, $k - - 24 992 2 655
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Dividend yield, %- - 0,5% 22,4% 60,0%
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2Valuation based on Revenue
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EntryExit
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Y1Y2Y3Y4Y5
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EqV / Revenue multiplier (1) 4,0x 4,0x 4,0x 4,0x 4,0x
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Cost of Capital 1 235 9 331 32 307 117 223 310 592
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Investor's share, %15,0%15,0%15,0%15,0%15,0%15,0%
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Investor's share, $k 4 424 185 1 400 4 846 17 583 46 589
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Dividend payout, $k - - 24 992 2 655
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Dividend yield, %- - 0,5% 22,4% 60,0%
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3End of sheet
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(1) Valuation multiples are derived from median calculations across two reference groups:
- Existing RWA tokenization protocols with publicly available capitalization (token issued) and protocol revenue data
- U.S. public companies in the asset management industry, covering large-, mid-, small-, and micro-cap segments within the financial sector
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