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

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	-	-	-
Agora S.A.	-	-	-
Mediana / Agora S.A.	-	-	-

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Pozostałe spółki z branży Publishing

Nazwa firmy	Symbol	Kapitalizacja (mln $)	EV/EBITDA	P/E	P/B	Giełda
Schibsted ASA	SCHB.OL	7,294	19.3	8.2	2.6	Oslo Stock Exchange
Shobunsha Holdings, Inc.	9475.T	50	65.3	13.8	0.6	Tokyo
John Wiley & Sons, Inc.	WLY	2,118	4.1	25.1	2.8	New York Stock Exchange
Shandong Publishing&Media Co.,Ltd	601019.SS	2,615	14.0	14.0	1.3	Shanghai
Sanoma Oyj	SANOMA.HE	1,862	2.9	39.5	2.0	Helsinki
Storytel AB (publ)	STORY-B.ST	746	20.1	30.5	5.1	Stockholm Stock Exchange
Chinese Universe Publishing and Media Group Co., Ltd.	600373.SS	1,904	16.4	20.6	0.7	Shanghai
S Chand and Company Limited	SCHAND.BO	92	5.3	12.5	0.8	Bombay Stock Exchange
Citic Press Corporation	300788.SZ	841	41.2	44.0	2.7	Shenzhen
DallasNews Corporation	DALN	73	3.4	2.5	2.1	NASDAQ Capital Market
HT Media Limited	HTMEDIA.NS	63	-0.6	278.2	0.3	National Stock Exchange of India
Gannett Co., Inc.	GCI	518	-2.3	9.9	3.4	New York Stock Exchange
Class Editori Spa	CLE.MI	52	14.3	-15.0	2.1	Milan
Jiangsu Phoenix Publishing & Media Corporation Limited	601928.SS	3,980	13.1	16.3	1.4	Shanghai
Navneet Education Limited	NAVNETEDUL.BO	374	3.0	4.3	1.8	Bombay Stock Exchange
Xinhua Winshare Publishing and Media Co., Ltd.	601811.SS	2,258	14.8	11.4	1.2	Shanghai
Il Sole 24 ORE S.p.A.	S24.MI	83	2.5	13.4	2.5	Milan
Takeda iP Holdings Co.,Ltd.	7875.T	56	13.0	18.0	0.5	Tokyo
Navneet Education Limited	NAVNETEDUL.NS	374	3.0	4.3	1.8	National Stock Exchange of India
S Chand and Company Limited	SCHAND.NS	92	5.3	12.5	0.8	National Stock Exchange of India
RELX PLC	REN.AS	97,367	22.0	39.7	21.6	Amsterdam
Agora S.A.	AGO.WA	118	-0.9	-155.3	0.6	Warsaw Stock Exchange
North Media A/S	NORTHM.CO	128	-6.2	-2.5	0.4	Copenhagen
Polaris Media ASA	POL.OL	287	4.1	4.3	0.9	Oslo Stock Exchange
Jagran Prakashan Limited	JAGRAN.BO	189	5.6	12.4	0.8	Bombay Stock Exchange
Xinhua Winshare Publishing and Media Co., Ltd.	0811.HK	1,777	12.6	8.2	0.9	HKSE
Saudi Printing and Packaging Co.	4270.SR	202	-0.7	-3.4	2.9	Saudi
Oriental Enterprise Holdings Limited	0018.HK	110	14.8	12.4	0.5	HKSE
MEDIA DO Co., Ltd.	3678.T	175	11.1	19.0	1.5	Tokyo
RELX PLC	REL.L	97,248	22.6	38.0	21.1	London Stock Exchange
Bloomsbury Publishing Plc	BMY.L	562	9.1	16.8	2.0	London Stock Exchange
Pearson plc	PSON.L	9,554	6.9	16.0	1.7	London Stock Exchange
Yellow Pages Limited	Y.TO	106	3.3	7.1	2.8	Toronto Stock Exchange
MPS Limited	MPSLTD.NS	485	20.0	27.9	8.7	National Stock Exchange of India
The New York Times Company	NYT	8,647	18.3	28.8	4.6	New York Stock Exchange
Gyldendal A/S	GYLD-A.CO	142	7.7	5.2	0.9	Copenhagen
Future plc	FUTR.L	1,025	2.2	11.0	0.8	London Stock Exchange
Arnoldo Mondadori Editore S.p.A.	MN.MI	640	3.2	10.1	1.8	Milan
Reach plc	RCH.L	319	2.2	4.4	0.4	London Stock Exchange
TOM Group Limited	2383.HK	229	-17.2	-7.0	-0.9	HKSE
Jagran Prakashan Limited	JAGRAN.NS	189	5.6	12.4	0.8	National Stock Exchange of India
Smart Globe Holdings Limited	1481.HK	65	-65.4	-42.5	4.5	HKSE
Visang Education Inc	100220.KS	55	-0.8	4.8	0.4	KSE
Hindustan Media Ventures Limited	HMVL.NS	77	11.6	8.5	0.4	National Stock Exchange of India
HT Media Limited	HTMEDIA.BO	63	-0.6	278.2	0.3	Bombay Stock Exchange
Saudi Research and Media Group	4210.SR	3,942	30.1	100.1	4.5	Saudi
Gyldendal ASA	GYL.OL	97	1.8	38.7	1.1	Oslo Stock Exchange
Kadokawa Corporation	9468.T	3,725	27.5	70.2	2.1	Tokyo
Southern Publishing and Media Co.,Ltd.	601900.SS	1,824	11.0	13.3	1.5	Shanghai
China South Publishing & Media Group Co., Ltd	601098.SS	3,299	17.6	15.9	1.5	Shanghai
Zhejiang Huamei Holding CO., LTD.	000607.SZ	703	18,485.1	-140.8	3.2	Shenzhen
Schibsted ASA	SCHA.OL	7,294	19.3	8.2	2.6	Oslo Stock Exchange
Tangel Culture Co., Ltd.	300148.SZ	580	65.5	71.5	4.3	Shenzhen
RELX PLC	RELX	97,005	24.6	38.1	21.2	New York Stock Exchange
D. B. Corp Limited	DBCORP.NS	580	9.4	13.5	2.3	National Stock Exchange of India
Smiths News plc	SNWS.L	181	2.0	5.3	-40.8	London Stock Exchange
Informa plc	INF.L	14,539	7.5	37.1	1.7	London Stock Exchange
Alma Media Oyj	ALMA.HE	1,258	10.0	20.5	4.4	Helsinki
Shanghai Xinhua Media Co., Ltd.	600825.SS	1,016	103.1	170.9	2.8	Shanghai
Scholastic Corporation	SCHL	551	2.5	31.9	0.6	NASDAQ Global Select
China Science Publishing & Media Ltd.	601858.SS	2,187	31.9	36.0	2.9	Shanghai
Hindustan Media Ventures Limited	HMVL.BO	77	11.6	8.5	0.4	Bombay Stock Exchange
Roularta Media Group NV	ROU.BR	222	10.6	31.8	0.9	Brussels
Woongjin Thinkbig Co., Ltd.	095720.KS	191	1.0	-10.7	1.0	KSE
D. B. Corp Limited	DBCORP.BO	579	9.4	13.5	2.3	Bombay Stock Exchange
Bastei Lübbe AG	BST.DE	157	7.6	14.8	2.0	Frankfurt Stock Exchange
Pearson plc	PES.DE	9,650	9.2	16.6	1.8	Frankfurt Stock Exchange
John Wiley & Sons, Inc.	WLYB	2,288	4.1	25.1	2.8	New York Stock Exchange
Storytel AB (publ)	0GBU.L	745	20.1	30.5	5.1	London Stock Exchange
Brangista Inc.	6176.T	66	10.3	16.0	2.3	Tokyo
Chengdu B-ray Media Co.,Ltd.	600880.SS	804	146.3	212.5	1.0	Shanghai
LBG Media plc	LBG.L	285	11.1	31.0	3.1	London Stock Exchange
MPS Limited	MPSLTD.BO	486	20.0	27.9	8.7	Bombay Stock Exchange
Changjiang Publishing & Media Co.,Ltd	600757.SS	1,644	11.8	10.9	1.2	Shanghai
Northern United Publishing & Media (Group) Company Limited	601999.SS	545	33.8	42.4	1.9	Shanghai
RCS MediaGroup S.p.A.	RCS.MI	610	2.8	8.3	1.2	Milan
Guangdong Guangzhou Daily Media Co., Ltd.	002181.SZ	1,111	56.7	99.8	1.9	Shenzhen
The Sandesh Limited	SANDESH.NS	101	8.4	11.3	0.6	National Stock Exchange of India
Pearson plc	PSO	9,639	5.6	16.8	1.8	New York Stock Exchange
Zhejiang Publishing & Media Co., Ltd.	601921.SS	2,503	16.5	15.9	1.3	Shanghai
Samsung Publishing Co., Ltd	068290.KS	132	13.0	17.8	1.0	KSE
Central China Land Media CO.,LTD	000719.SZ	1,845	13.9	11.7	1.1	Shenzhen
Starts Publishing Corporation	7849.T	109	9.3	8.9	1.7	Tokyo
Time Publishing and Media Co., Ltd.	600551.SS	843	16.1	15.2	1.0	Shanghai
Papyless Co., Ltd.	3641.T	51	-39.6	-50.2	0.9	Tokyo
Qingdao Citymedia Co,. Ltd.	600229.SS	626	66.2	74.1	1.4	Shanghai
The Sandesh Limited	SANDESH.BO	101	8.4	11.3	0.6	Bombay Stock Exchange
Heilongjiang Publishing & Media Co., Ltd.	605577.SS	801	37.7	33.3	1.5	Shanghai
China Publishing & Media Holdings Co., Ltd.	601949.SS	1,779	17.5	20.6	1.3	Shanghai
RCS MediaGroup S.p.A.	0QEJ.L	597	2.8	8.3	1.2	London Stock Exchange
DuZhe Publish&Media Co.,Ltd	603999.SS	536	69.0	62.2	2.0	Shanghai
TX Group AG	TXGN.SW	3,058	14.2	-766.6	1.0	Swiss Exchange
Thinkingdom Media Group Ltd.	603096.SS	397	21.9	27.8	1.5	Shanghai
Gyldendal A/S	GYLD-B.CO	160	7.7	5.2	0.9	Copenhagen