Kalkulacja wyceny (mln)
Wartość firmy (EV)	-
Dług netto	-
Gotówka	-
Udziały mniejszościowe	-
Ilość akcji	-
Wartość godziwa firmy	-
Wartość godziwa akcji	Brak danych

Kalkulacja WACC - koszt kapitału
Stopa wolna od ryzyka	-
Premia rynkowa	-
Beta	-
Udział kapitału własnego	-
Udział długu	-
Koszt kapitału własnego	-
Koszt długu	-
WACC	-

Brak modelowania Monte Carlo

Metoda mnożnikowa – opiera się na porównaniu mnożników firm z branży, w której działa wyceniana spółka (np. EV/EBITDA, P/E, P/BV). Metoda ta bardzo dobrze odzwierciedla bieżący stan rynku, wymaga mniejszej liczby założeń oraz jest prostsza w zastosowaniu. Do jej wad można zaliczyć dużą podatność wyceny na zmienność cen porównywanych spółek, subiektywny dobór porównywalnych firm oraz uproszczenie obrazu spółki prowadzące do pominięcia bardzo istotnych parametrów (np. przewaga konkurencyjna, tempo wzrostu, poziom rentowności, strukturę zadłużenia).

	EV/EBITDA TTM	P/E TTM	P/B TTM
Mediana dla branży	11.5	17.4	1.3
ADvTECH Limited	6.4	15.4	2.8
Mediana / ADvTECH Limited	1.8	1.1	0.5

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Pozostałe spółki z branży Education & Training Services

Nazwa firmy	Symbol	Kapitalizacja (mln $)	EV/EBITDA	P/E	P/B	Giełda
China East Education Holdings Limited	0667.HK	1,788	13.9	25.2	2.2	HKSE
Edvantage Group Holdings Limited	0382.HK	224	2.2	2.3	0.4	HKSE
Offcn Education Technology Co., Ltd.	002607.SZ	2,503	24.9	27.8	5.1	Shenzhen
Xueda (Xiamen) Education Technology Group Co., Ltd.	000526.SZ	774	19.4	27.9	6.6	Shenzhen
Daekyo Co., Ltd.	019685.KS	136	13.0	163.9	0.3	KSE
Daekyo Co., Ltd.	019680.KS	140	13.9	301.7	0.6	KSE
China Education Group Holdings Limited	0839.HK	924	0.8	15.1	0.4	HKSE
The Cross-Harbour (Holdings) Limited	0032.HK	389	6.7	7.0	0.4	HKSE
Scholar Education Group	1769.HK	276	11.0	13.9	3.2	HKSE
Youji Corporation	2152.T	99	18.5	16.8	1.4	Tokyo
Fenbi Ltd.	2469.HK	599	20.1	15.4	3.1	HKSE
Qtone Education Group (Guangdong) Co.,Ltd	300359.SZ	530	-36.4	-32.0	6.6	Shenzhen
Minsheng Education Group Company Limited	1569.HK	76	1.8	450.2	0.1	HKSE
China Kepei Education Group Limited	1890.HK	362	3.1	3.2	0.5	HKSE
China Beststudy Education Group	3978.HK	463	14.2	19.4	5.7	HKSE
Human Holdings Co., Ltd.	2415.T	120	8.1	6.6	1.0	Tokyo
Hope Education Group Co., Ltd.	1765.HK	191	-1.2	2.0	0.1	HKSE
Koolearn Technology Holding Limited	1797.HK	1,565	88.7	74.5	2.3	HKSE
Chengdu Jiafaantai Education Technology Co.,Ltd.	300559.SZ	651	283.2	237.3	3.9	Shenzhen
China New Higher Education Group Limited	2001.HK	220	-0.7	1.6	0.3	HKSE
Hong Kong Education (Int'l) Investments Limited	1082.HK	117	-95.7	-40.5	9.9	HKSE
Chen Lin Education Group Holdings Limited	1593.HK	159	-5.6	33.1	1.3	HKSE
China Maple Leaf Educational Systems Limited	1317.HK	114	-0.6	54.4	0.5	HKSE
MegaStudyEdu Co. Ltd	215200.KQ	399	2.4	11.8	1.2	KOSDAQ
China Xinhua Education Group Limited	2779.HK	125	2.5	2.7	0.2	HKSE
China Vocational Education Holdings Limited	1756.HK	92	-1.0	1.4	0.2	HKSE
JH Educational Technology INC.	1935.HK	169	5.2	3.9	0.4	HKSE
Astro-century Education&Technology Co.,Ltd	300654.SZ	518	65.0	93.1	4.5	Shenzhen
Virscend Education Company Limited	1565.HK	85	-4.7	20.0	0.8	HKSE
Shanghai Gench Education Group Limited	1525.HK	148	1.5	4.7	0.5	HKSE
China Chunlai Education Group Co., Ltd.	1969.HK	627	2.7	6.0	1.2	HKSE
Tianli International Holdings Limited	1773.HK	1,073	15.6	25.1	4.1	HKSE
Insource Co., Ltd.	6200.T	581	16.5	23.9	8.3	Tokyo
LIGHTWORKS Corporation	4267.T	74	26.2	55.3	11.5	Tokyo
Riso Kyoiku Co., Ltd.	4714.T	259	15.1	21.1	3.1	Tokyo
Tokyo Individualized Educational Institute, Inc.	4745.T	116	12.5	18.0	2.1	Tokyo
Waseda Academy Co., Ltd.	4718.T	310	10.7	19.0	2.9	Tokyo
China Hi-Tech Group Co., Ltd.	600730.SS	521	95.4	70.1	1.7	Shanghai
National Company for Learning and Education	4291.SR	1,722	26.0	37.4	8.2	Saudi
Sino Tactful Co., Ltd.	5481.TWO	57	86.1	-104.1	1.4	Taipei Exchange
Shanghai Action Education Technology CO.,LTD.	605098.SS	587	16.9	15.2	4.2	Shanghai
China YuHua Education Corporation Limited	6169.HK	239	1.4	3.8	0.2	HKSE
Al Khaleej Training and Education Company	4290.SR	435	1.5	20.0	3.1	Saudi
Ataa Educational Company	4292.SR	729	7.4	37.7	3.4	Saudi
AwanBiru Technology Berhad	5204.KL	55	112.9	-141.0	1.3	Kuala Lumpur
Shanghai Xinnanyang Only Education & Technology Co., Ltd.	600661.SS	409	-243.5	-64.2	42.7	Shanghai
Meiko Network Japan Co., Ltd.	4668.T	126	14.3	18.7	1.5	Tokyo
AcadeMedia AB (publ)	ACAD.ST	844	-0.9	11.1	1.3	Stockholm Stock Exchange
Neusoft Education Technology Co. Limited	9616.HK	280	0.6	4.3	0.9	HKSE
SPRIX, Ltd.	7030.T	134	10.2	31.6	1.9	Tokyo
Samebest Co., LTD.	8489.TWO	57	11.4	-34.4	3.6	Taipei Exchange
Gakkyusha Co.,Ltd.	9769.T	166	8.3	12.9	3.3	Tokyo
Step Co.,Ltd.	9795.T	243	10.4	13.5	1.3	Tokyo
PROGRIT Inc.	9560.T	108	16.8	19.3	6.9	Tokyo
New Oriental Education & Technology Group Inc.	9901.HK	8,479	17.0	23.6	2.5	HKSE
Gakken Holdings Co., Ltd.	9470.T	268	2.1	13.1	0.7	Tokyo
Academy Of Learning Company	9541.SR	223	25.1	43.7	7.0	Saudi
Afya Limited	AFYA	1,596	4.7	12.9	2.1	NASDAQ Global Select
With us Corporation	9696.T	202	20.1	70.5	4.9	Tokyo
Nagase Brothers Inc.	9733.T	342	5.6	25.3	1.6	Tokyo
Anima Holding S.A.	ANIM3.SA	290	-2.6	18.7	0.7	São Paulo
Aptech Limited	APTECHT.NS	105	22.5	46.9	3.6	National Stock Exchange of India
American Public Education, Inc.	APEI	538	10.5	21.7	1.7	NASDAQ Global Select
Aptech Limited	APTECHT.BO	105	22.5	46.9	3.6	Bombay Stock Exchange
Adtalem Global Education Inc.	ATGE	4,575	9.8	20.2	3.3	New York Stock Exchange
Cedergrenska AB (publ)	CEDER.ST	56	6.6	24.0	2.7	Stockholm Stock Exchange
Cogna Educação S.A.	COGN3.SA	911	-0.7	5.4	0.4	São Paulo
Coursera, Inc.	COUR	1,378	-32.2	-20.9	2.3	New York Stock Exchange
CL Educate Limited	CLEDUCATE.BO	57	20.4	-75.5	3.1	Bombay Stock Exchange
Cruzeiro do Sul Educacional S.A.	CSED3.SA	344	0.2	12.9	1.3	São Paulo
Chegg, Inc.	CHGG	145	-0.2	-0.2	0.8	New York Stock Exchange
Youdao, Inc.	DAO	1,043	37.5	90.5	-3.5	New York Stock Exchange
CL Educate Limited	CLEDUCATE.NS	57	20.4	-75.5	3.1	National Stock Exchange of India
D2L Inc.	DTOL.TO	590	46.2	22.2	6.7	Toronto Stock Exchange
Embark Education Limited	EVO.AX	83	6.8	16.1	1.2	Australian Securities Exchange
New Oriental Education & Technology Group Inc.	EDU	9,095	19.8	22.9	2.4	New York Stock Exchange
Graham Holdings Company	GHC	4,185	2.4	6.6	1.0	New York Stock Exchange
Gaotu Techedu Inc.	GOTU	1,404	-9.4	-6.5	3.5	New York Stock Exchange
G8 Education Limited	GEM.AX	587	0.8	14.1	1.0	Australian Securities Exchange
IDP Education Limited	IEL.AX	654	3.2	10.5	1.7	Australian Securities Exchange
Laureate Education, Inc.	LAUR	3,427	6.5	12.3	3.9	NASDAQ Global Select
Stride, Inc.	LRN	6,271	12.1	20.8	4.4	New York Stock Exchange
Lumi Gruppen AS	LUMI.OL	87	11.5	-108.2	1.7	Oslo Stock Exchange
Lincoln Educational Services Corporation	LINC	731	17.1	58.9	4.0	NASDAQ Global Select
Grand Canyon Education, Inc.	LOPE	5,382	16.5	23.3	6.8	NASDAQ Global Select
NIIT Learning Systems Limited	NIITMTS.NS	537	12.6	21.1	4.0	National Stock Exchange of India
NIIT Limited	NIITLTD.NS	208	30.6	38.2	1.6	National Stock Exchange of India
NIIT Limited	NIITLTD.BO	208	30.6	38.2	1.6	Bombay Stock Exchange
QuantaSing Group Ltd	QSG	527	9.8	9.3	5.9	NASDAQ
Proeduca Altus, S.A.	PRO.MC	1,764	40.0	53.6	64.2	Madrid Stock Exchange
Perdoceo Education Corporation	PRDO	2,148	9.7	14.1	2.2	NASDAQ Global Select
Strategic Education, Inc.	STRA	2,094	10.2	17.9	1.2	NASDAQ Global Select
SISB Public Company Limited	SISB.BK	401	11.5	14.5	3.8	Thailand
Skillsoft Corp.	SKIL	124	5.1	-1.0	1.3	New York Stock Exchange
Ser Educacional S.A.	SEER3.SA	231	-0.3	-1,082.1	1.0	São Paulo
Udemy, Inc.	UDMY	1,054	-23.0	-15.2	5.0	NASDAQ Global Select
Veranda Learning Solutions Limited	VERANDA.NS	172	10.8	-5.8	5.5	National Stock Exchange of India
Sunlands Technology Group	STG	78	2.4	1.6	0.9	New York Stock Exchange
Veranda Learning Solutions Limited	VERANDA.BO	172	10.8	-5.8	5.5	Bombay Stock Exchange
TAL Education Group	TAL	6,700	116.1	79.1	1.8	New York Stock Exchange
Universal Technical Institute, Inc.	UTI	1,879	14.3	32.4	6.3	New York Stock Exchange
Vasta Platform Limited	VSTA	342	1.2	4.1	0.4	NASDAQ Global Select
NIIT Learning Systems Limited	NIITMTS.BO	537	12.6	21.1	4.0	Bombay Stock Exchange
Yduqs Participações S.A.	YDUQ3.SA	787	-0.3	14.1	1.5	São Paulo