Excess Value Measure

Competitiveness Shaded

Technology Shaded

Capital Shaded

NBG

BG

NBG

BG

NBG

BG

N

1703

1217

842

630

179

115

Asset Multiple

Mean

1.21

1.03

1.19

1.09

1.44

1.19

SD

1.38

1.43

1.36

1.34

1.77

1.59

Sales Multiple

Mean

1.23

1.10

1.25

1.03

1.85

1.41

SD

1.57

1.70

1.63

1.64

2.26

2.18

EBIT Multiple

Mean

1.73

1.45

1.59

1.04

1.98

1.81

SD

2.13

1.55

1.69

1.76

1.54

1.72