MaxsMaking Valuation Multiples

Avery Dennison Corp provides materials science and digital identification solutions, offering labeling and functional materials, RFID inlays and tags, software connecting physical and digital, and products that enhance packaging and customer experience. Serving industries including retail, apparel, e-commerce, logistics, food, pharmaceuticals, and automotive it operates through two reportable segments: Materials Group, which manufactures and sells pressure-sensitive label materials, graphics, reflective products, performance tapes, and other adhesive solutions, and earns the majority of revenue; and Solutions Group, which provides brand and price tickets, tags, labels with RFID inlays, and related services, supplies, and equipment.

Jiangsu Eastern Shenghong Co Ltd is engaged in the energy and chemical enterprise. The company's main products include refined oil products, other petrochemical and chemical new materials, polyester filament, other chemical fiber products, and others.

Toray Industries Inc is a Japan-based company engaged in the textile business, functional chemicals business, carbon fiber composite materials, and other businesses. The Carbon Fiber Composite Materials segment covers carbon fiber, composites, and molded products. The Environment and Engineering segment includes membranes for water treatment, general engineering, industrial machinery, housing, and construction materials. The Functional Chemicals segment handles resins, foams, films, fine chemicals, and electronic materials. The Life Science segment focuses on pharmaceuticals and medical devices. The Textile segment provides fibers, fabrics, non-woven and apparel products, while Others offers analysis, survey, and research services. It generates majority of revenue from the Textile segment.

Shenzhou is the largest vertically integrated knitwear manufacturer in the world. The group mainly produces sportswear (75% of 2022 revenue), casual wear (21% of revenue), and lingerie (3% of revenue) for international clients such as Nike, Adidas, Puma, and Uniqlo. Mainland China is its largest market, accounting for 26% of sales in 2022. This is followed by Europe, US, and Japan. Shenzhou currently operates manufacturing plants in China, Cambodia, and Vietnam.

Toppan Holdings Inc provides products and services geared toward printing technologies. Its product portfolio of printing technologies consists of in-store advertisements, books, magnetic cards, floor filters, wallpaper, flexible packaging, and other solutions. The company operates three business segments: information and communication (the majority of total revenue), electronics, and living and industry. Toppan Printing provides secure documents, such as credit cards, coupons, and business forms, and offers a mix of marketing materials to increase diversification. It utilizes sales promotion personnel, printing press operators, and research personnel to develop solutions for customers. Operations and sales are located in Japan.

Tongkun Group Co Ltd is a China-based company engaged in polyester and polyester filament yarn manufacturing. It offers various polyester filament yarns, such as a pre-oriented filament, draw textured yarns, polyester chips, and others under the GOLDENCOCK and Tong Kun brand names.

Dai Nippon Printing Co Ltd operates in various business areas using its printing and information technologies. The company operates in the following segments: Life & Healthcare, Electronics, and Smart Communication. Its key revenue is derived from the Smart Communication segment, which includes the imaging communication business, focusing on photo printing, the Information Security business, providing business process outsourcing (BPO) and smart card services, and content & XR communication. The Life & Healthcare segment includes its mobility and industrial high-performance materials business, bulk pharmaceutical manufacturing and medical packaging, and the packaging, living spaces, and beverages businesses. Electronics focuses on functional films, display components, and others.

Inner Mongolia ERDOS Resources Co Ltd operates in the textile and garment industry. The company is mainly engaged in the cashmere clothing production. In addition, the company is also engaged in coal mining, power generation, silicon ferroalloy, chlor-alkali chemicals, fertilizers, polysilicon and other products processing and sales. Its product range consists of a cashmere sweater and other cashmere products, ferrosilicon, Si-Mn alloy, coal, calcium carbide, and polyvinyl chloride resin.

Xinfengming Group Co Ltd is engaged in chemical fiber manufacturing.

Far Eastern New Century Corp is a Taiwan-based industrial holding company with operations that span Taiwan, China and overseas. The company is organized into a business that includes manufacturing and selling polyester materials and semi-finished and finished textiles such as cotton, synthetic or blended fabrics, towels and bed sheets, and woven and knitted garments; PET (polyethylene terephthalate) bottles and sheets; and natural, synthetic or blended yarns and polyester textured yarns. It also does yarn, silk and cloth printing and dyeing. Its operating segments include: Investments in production business, which derives key revenue; telecommunication services business; property development business; investment; and other business.

Nitto Boseki Co Ltd is engaged in the textile business. It operates in six segments: Textiles Business engages in the manufacture and sales of textiles products (core-spun yarn, stretch products, interlining and other finished products, etc.); Glass Fiber Yam Business engages in the manufacture and sales of glass raw fiber products (yarn, roving, chopped strands, etc.); Glass Fiber Cloth Business engages in the manufacture and sales of glass fiber functional products (glass cloth, etc.); Glass Fiber for Industrial Materials Business engages in the manufacture and sales of glass fiber products for use in industrial materials and the manufacture and sales of glass wool products (for use in thermal insulation materials); Life Science Business; and Other segment.

K.P.R. Mill Ltd is an apparel manufacturer, securing revenues predominantly from India. It is mainly engaged in the business of manufacturing textiles, consisting of yarn, fabrics, readymade garments, and wind power. Its core products are readymade knitted apparel, fabrics, melange, carded, and combed yarn. The Company is engaged in only one business, i.e. manufacturing and sale of textiles.

Shijiazhuang Changshan Beiming Technology Co Ltd is a China-based company, engages in the textile business as well as software and information technology services. In the textile business, its products cover yarns, functional fabrics and brand garment, home textiles and industrial textiles. Its Software business deals with the development of software and provision of software services; provision of intelligent installation services as well as import and export of intelligent installation technologies.

Eclat Textile Co Ltd is mainly been involved in the manufacturing and marketing of knitwear. It is a textile company that operates in two segments: the Fabrics division, which produces and sells flexible textiles, and the Garments division, which produces, processes, and sells clothing. The majority of its revenue is generated from the Garments division. Its geographical segments include the Americas, which derive key revenue, Asia, Europe, the Middle East, ANZ, Africa, and other countries.

Zeon Corp manufactures and sells a variety of rubber-based and plastic-based products. The company organizes itself into two primary segments based on product type. The elastomer segment, which generates the majority of revenue, sells rubbers, lattices, and chemicals. These products include tires, hoses, seals, construction and housing materials, agricultural chemicals, fragrances, food ingredients, and pharmaceutical products. The High-performance materials business segment manufactures and sells high-performance resins, high-performance components, electronic materials, battery materials, toners, chemicals, and medical equipment.

Sasa Polyester Sanayi AS is a company engaged in the production and marketing of polyester fiber, yarns and related products, and polyester chips. The company's product portfolio includes specialty polymers and chemicals which consist of thermoplastic polyester elastomers, dimethyl terephthalate, plasticizers, advanced polymers, polybutylene terephthalate solutions, and polyethylene terephthalate solutions. It also provides fiberfill, nonwoven, and textile fibers; and DO, flat, texturing and POY filament yarns. The group generates revenue through the sale of products.

Ableprint Technology Co Ltd is a company that provides solutions to packaging process problems as an entry into the entrepreneurial market, provide a complete set of systems to solve problems and reduce manufacturing costs.

Cimpress PLC invests in and builds customer-focused, entrepreneurial, mass-customization businesses for the long term. Mass customization seeks to produce goods and services to meet individual customer needs with near mass production efficiency. Its products and services include a broad range of marketing materials, business cards, signage, promotional products, logo apparel, packaging, books and magazines, wall decor, photo merchandise, invitations and announcements, design and digital marketing services, and other categories. The company's segment includes Vista; PrintBrothers; The Print Group; National Pen and All Other Businesses. It generates maximum revenue from the Vista segment.

Coats Group PLC is a firm manufacturing thread for industrial and consumer use. Its product portfolio includes industrial thread and knitting yarns used in the apparel and footwear industries, zips, trims, composites, and fabrics. The company's customers are grouped into three segments; Apparel which is also the key revenue generating customer segment, Footwear and Performance Materials. Geographically, the company generates a majority of its revenue from China and Hong Kong and the rest from Vietnam, India, United Kingdom and other regions.

Albany International Corp is principally engaged in processing textiles and materials. The company consists of two business segments, the machine clothing segment, which produces and provides custom-designed fabrics and belts for the production in the paper, nonwovens, and other process industries; and the Albany engineered composites segment, which offers engineered composite parts for the aerospace and defensive industries. The machine clothing segment contributes to the majority of the company's total revenue. The company has an operation and generates revenue from the United States, Switzerland, Brazil, China, Mexico, France, and other areas.

Vardhman Textiles Ltd is a manufacturer and seller of textiles and acrylic fiber. The company's segments include: Textile and Fibre. The company derives majority of its revenue from Textiles segment, which offers greige and dyed yarns in a number of fabrics such as cotton, polyester, acrylic, organic cotton, melange, cellulose, and synthetics. The company provides fabrics for the apparel industry and home textiles and manufactures shirts for retail brands. In addition, It offers hot-rolled bars for use in industries such as automotive, engineering, and allied industries. Geographically, it operates in India as well as Overseas.

Ruentex Industries Ltd is engaged in the textile business, including manufacturing, processing, dyeing and finishing, printing, and marketing of woven fabrics, garments, knitted fabrics, and woven fabric items, and the construction business, including commissioning of construction companies to build public housing projects and office buildings as well as leasing and sales of property. Its reportable segments include Textile segment, Retail segment, and Hypermarket segment.

Anhui Xinhua Media Co Ltd operates as a publishing and printing company in China. Its businesses include publication and distribution logistics services, import and export business, real estate development, advertising, film and television media, hotel management, financing lease, e-commerce and other fields.

Isiklar Enerji ve Yapi Holding AS is engaged in the manufacture and marketing of various types of yarn. Its products include polyester, texturized, twisted, weft and warp yarns used in embroidery, woven label production, weaving and warp-knitting.

Welspun Living Ltd Formerly Welspun India Ltd is an India-based company that makes and sells home textiles. The company's products consist of towels, bath robes, bath rugs and mats, area rugs, carpets, bed sheets, utility bedding, and fashion bedding. The company owns several brands, including Christy, Spaces, Welhome, and Others. The company has a world-wide distribution network, with the United States, the United Kingdom, and Europe.

Trident Ltd is a terry towel and wheat straw-based manufacturer in India. The company through its subsidiaries operates through the below segments: Yarn, Towel, Bedsheets, and Paper & Chemicals. The firm generates a majority of its revenue from the Yarn segment. The group offers products such as solid bath sets, beach towels, embroidered towels, bath mats, bathrobes, duvet covers, cushion covers, blended yarn, drawing paper under Trident Spectra, Trident My Choice, Trident Digi Print, Trident Royal Touch, Trident Eco Green, and Trident Natural brands. The geographical segments of the company include India, the USA, and the Rest of the world.

China Hi-Tech Group Co Ltd is engaged in the education sector. The company provides education and training services. The company is also involved in education investment and educational research.

Lenzing AG manufactures and sells wood-based cellulose fibers and other chemical-based products. The company's segment includes The Division Fiber produces all three generations of wood-based cellulosic fibers and markets them under the product brands TENCEL, VEOCEL, LENZING ECOVERO, and LENZING. the products made from lyocell, modal, and viscose fibers are used for the production of textiles as well as nonwovens and special applications, The Division Pulp produces and procures dissolving pulp for fiber production. The pulp is used for the company’s own cellulosic fiber production and marketed externally, and Others include central headquarters functions. It derives a majority of its revenue from the Division fiber segment.

Swan Corp Ltd Formerly Swan Energy Ltd is an Indian-based holding company engaged in various business segments which include; Textiles, Energy, Construction/others, Distribution & Development, Warehousing, Manufacturing, and Power generation. It generates maximum revenue from the Distribution & Development segment. Geographically, the group generates revenue from Domestic and Overseas markets, with the majority of it being generated from the Overseas market.

Eastman Kodak Co is a United States-based company. It operates through several business segments; Print, Brand, and Advanced Materials and Chemicals. The Print segment which derives the majority of revenue includes products like digital offset plate offerings and computer-to-plate imaging solutions, high-quality digital printing solutions using electrically charged toner-based technology, production press systems, consumables, inkjet components, software and services. Geographically, the company generates revenue from the United States, Canada, Europe, Middle East and Africa, Asia Pacific, and Latin America.

Matthews International Corp is a provider of memorialization products, industrial technologies and brand solutions. The company's segments are Memorialization, Industrial Technologies and Brand Solutions. The memorialization offerings include bronze and granite memorials, caskets, and cremation-related products and equipment for cemeteries and funeral homes. Its Industrial Technologies segment designs, manufactures, services, and sells custom energy storage systems and product identification and warehouse automation solutions. The Brand Solutions segment provides brand management, pre-media, printing plates and cylinders, imaging, digital asset management, merchandising displays, and marketing and design services. The majority of revenue is generated by Memorialization.

Suzhou Kingswood Education Technology Co Ltd formerly known as Suzhou Kingswood Printing Ink Co Ltd operates in the printing ink industry. The company is a ink manufacturer that focuses on research and development of polymer materials and modified vegetable oils which is used for production of printing inks. The products of the company include DWA high pigmented, color intensive fast offset ink and DWT color intensive fast offset ink.

CEWE Stiftung & Co KGaA is a German-based company which provides photo service, photo retail business, and commercial online printing. The company operates a business through three segments through photofinishing, retail, and commercial online printing. Its Photofinishing segment works on the printing of photos of analogue or digital origin. Retail unit trades photo hardware and photo products to end consumers using various brands such as Fotojoker, Fotolab and Japan Photo, among others. The Online Printing unit operates through online printing portals, such as www.cewe-print.de and others. The company derives it's majority of the revenue from photofinishing activity in Germany.

Kornit Digital Ltd develops, designs and markets digital printing solutions for the world-wide printed textile industry. The company focuses on its DTG and DTF segments of the printed textile industry. Its solutions include digital printing systems, ink and other consumables, associated software and value-added services that allow for large-scale printing of short runs of complex images and designs directly on finished garments and fabrics. It generates revenue from sales of systems, ink and other consumables and service including software subscriptions The company geographically operates in U.S., EMEA, Asia Pacific and other countries. It derives maximum revenue from U.S.

James Halstead PLC manufactures commercial, contract, and consumer flooring. The flooring is used in offices, retail shops, factories, clinics, hospitals, schools, hotels, cinemas, restaurants, and airports. The firm's portfolio of brands includes Polyflor, Polysafe, Expona, Performa, Saarfloor Systems, Megastrong, Camaro, Colonia, Kudos, Expona Domestic, Voyager, Forest fx, Cavalio, and Arai. Arai is a helmet manufacturer focused on motorsports. Its geographic segments include the United Kingdom; Europe and Scandinavia; Australasia and Asia; and the Rest of the World.

Raksul Inc provides printing services in Japan. It prints newspaper folding products, station stage posters, business cards, cards, business materials, greeting cards, signs/displays, designing on PC online, posts, flyers, posters, tickets, fans, slips, and eating/store tools.

Alok Industries Ltd is an Indian textile company. The company is engaged in the manufacturing of textiles, including mending and packing activities; leather, and other apparel products. Its divisions include Spinning, such as cotton yarn; Home Textiles, such as sheeting fabric, equivalent sheet sets, and terry towels; Apparel Fabrics, such as woven fabric (includes embroidery) and knits; Garments, and Polyester, such as continuous polymerization, partially oriented yarn (POY)/chip, draw texturized yarn (DTY), fully drawn yarn (FDY), polyester staple fiber/cationic yarn and masterbatch. Geographically, it derives a majority of revenue from India. The company generates the majority of its revenue from the Home Textiles product group.

AdvanSix Inc is a diversified chemistry company playing a critical role in international supply chains, innovating and delivering essential products for customers across a wide variety of end markets and applications that touch people's lives, including building and construction, fertilizers, agrochemicals, plastics, solvents, packaging, paints, coatings, adhesives, and electronics. The company's key products include Nylon, Caprolactam, Plant Nutrients, and Chemical Intermediates. The majority of sales are from Plant Nutrients products. The company operates in the United States and internationally, with the majority of revenue coming from the United States.

HS Hyosung Advanced Materials produces high-strength industrial yarns and fabrics of various materials such as polyester, nylon, PEN, aramid, and carbon fiber to meet the wide-ranging demands of the market, which are applied in various fields such as automobiles, civil engineering and construction, agriculture, defense, transportation, and sports.

FILA-Fabbrica Italiana Lapis ed Affini SpA operates in the creativity tools market, producing colouring, design, modelling, writing and painting objects, such as pencils, crayons, modelling clay, chalk, oil colours, acrylics, watercolours, paints and paper for the fine arts, school and leisure. The company, along with its subsidiaries, reports its business segments based on entity location and include Europe, North America (USA and Canada), Central and South America, Asia and the Rest of the World.

Anhui Huamao Textile Co Ltd is mainly engaged in the production and distribution of cotton yarn, blended yarn, spandex core yarn line, singeing mercerized dyed yarn, and jacquard fabrics in China.

Nueva Expresion Textil SA manufactures and sells fabrics. It offers lingerie, swimwear, and sportswear under the Cristal, Dazzling, Sari, Liquid, Dogitech, Winn, Cooper, and Invisible brand names.

Raymond Ltd is an Indian based company. The company's operating segment includes Tools and Hardware, Auto components, Precision, and Others: Job processing and non-scheduled airline operations. The company generates the majority of its revenue from the Precision segment. Geographically, the company generates key revenue from foreign operations.

Quad/Graphics Inc provides print and marketing services to help customers market their products, services, and contents. The company operates in the commercial segment of the printing industry. It operates through three divisions. The United States print and related services segment consists of the company's American operations. Besides the complete set of print and marketing solutions, this segment also manufactures ink. The international segment includes the company's printing business in Europe and Latin America and others countries. The corporate segment is engaged in the general and administrative activities as well as associated costs. The company almost generates all its revenue from the American domestic market..

Orell Fussli AG is a diversified industrial and trading group engaged in the businesses of banknote and security printing, industrial systems used in the individualization of security documents and branded products, bookstore and Rest business area. In its banknote and security printing operations, it produces banknotes, identity documents, and securities, and is noted for applications of printing processes and technologies. The industrial systems business unit manufactures industrial systems for the digital printing and encoding of banknotes, passports and security documents, plastic cards, labels, and packaging. The geographic presence in Switzerland, Germany, Rest of Europe and Africa, North and South America and Asia and Oceania. The majority of its revenue derives from Switzerland.

Any Security Printing Co PLC is a Hungary-based security and business form-producing company. The Company produces Security products and solutions (tax stamps. stickers with security elements), plastic cards (document cards, bank and commercial cards, personalized business and administration forms, as well as conventional printing products. The company operates in segments namely Security products and solutions; Card production and personalization; Form production and personalization, data processing; Traditional printing products, and Others.

Sanathan Textiles Ltd is company in India with a presence across the polyester, cotton and technical textile (which find application in multiple end-use segments including automotive, healthcare, construction, sports and outdoor, and protective clothing) sectors. The company also has products such as dope dyed, superfine/micro, functional, industrial and technical yarn, cationic dyeable and specialty yarn produced after extensive in-house research. These products are tailor-made to customer requirements and have properties and characteristics that are distinctive from other products. Geographically, the company generates the majority of its revenue from India.

Kordsa Teknik Tekstil AS is a Turkey-based company tire reinforcement company, engaged in the manufacturing of nylon and polyester yarn, cord fabric, and single-end cord products. It benefits the tire reinforcement and mechanical rubber market. The company offers carcass and industrial fabrics that are used in the structure of vehicle tires, and rubber and plastic materials, such as transmission belts, V belts, rubber hoses and others. Business is functioned through North America, South America, Asia, Europe, the Middle East, and Africa.