Table : Sector view listed soccer shares (top 5 countries).Updated : 18/10/2017 00:21        
in million €AS RomaBorussia DortmundJuventusManchester UnitedOlympique LyonS.S. Lazio
notes1 2
share price [euro;]0.43327.86900.764015.46092.83000.9700
volume425.00454.4024.043.3156.8678.9851.691.364
%+1.55%+0.15%+2.28%0.00%-0.70%+8.99%
calculation of market cap and enterprise value (EV)
shares [million]3989210081654668
market capitalisation 172724770254613066
+/+ net debt 3170-3619929225427
Enterprise Value (EV)343688969283838493
notes
1 Manchester United : share price converted from USD to Euro / Net Debt from GBP to EUR
2 Manchester United : current exchange rates : GBP/EUR = 1.1207 USD/EUR = 0.8495
3 As of June 30, 2016


Table : Enterprise Value in chart view
in million €12 3
AS Roma172170343
Borussia Dortmund724-36688
Juventus770199969
Manchester United25462922838
Olympique Lyon130254384
S.S. Lazio662793
1 Market cap + 2 Net debt = 3 Enterprise Value (EV)


Table : Forbes/KPMG versus market value at stock exhange.Updated : 18/10/2017
in million €AS RomaBorussia DortmundJuventusManchester UnitedOlympique LyonS.S. Lazio
Enterprise Value (EV)343688969283838493
EV Forbes143271011042818n.a.n.a.
EV KPMG13588309832905186233
--> EV target Forbes-KPMG39577010432861186233
EV / Forbes-KPMG [%]87%89%93%99%206%40%
--> EV upside [%]+15%+12%+8%+1%n.a.+152%
1 Forbes rapport Business of Soccer 2016 (valuation converted from USD to EUR) : URL
2 KPMG report The European Elite 2016 [PDF] URL


Table : Dynamic Valuation Table on basis of Forbes/KPMG taxationsUpdated : 18/10/2017
in million €AS RomaBorussia DortmundJuventusManchester UnitedOlympique LyonS.S. Lazio
share price [€]0.437.870.7615.462.830.97
shares [million]3989210081654668
market capitalisation 172724770254613066
+/+ net debt170-3619929225427
Enterprise Value (EV)343688969283838493
criterium : Enterprise Value valuation by Forbes-KPMG
--> EV target39577010432861186233
-/- net debt170-3619929225427
--> fair market cap2248068442569n.a.206
--> fair price [€]0.568.760.8415.60n.a.3.04
--> upside share [%]+30%+11%+10%+1%n.a.+214%


Table : Dynamic valuation table on basis of Squad Value 12Updated : 18/10/2017
in million €AS RomaBorussia DortmundJuventusManchester UnitedOlympique LyonS.S. Lazio
Enterprise Value (EV)343688969283838493
Squad Value1 308376451466201174
+/+ Value players lent out237155914418
-/- Value players on loan 359040000
Squad Value total286391470480205192
EV / Squad Value [%]120%176%206%592%187%48%
criterium : EV = 2 x Squad Value
--> EV target573783939959411384
--> EV upside [%]+67%+14%n.a.n.a.+7%+315%
-/- net debt170-36n.a.n.a.25427
--> fair market cap402818n.a.n.a.157357
--> fair price [€]1.018.90n.a.n.a.3.425.27
--> upside share [%]+134%+13%n.a.n.a.+21%+443%
1 Squad Value Transfermarkt.de - April 5, 2017
2 Value of players lent out (only +€1m players considered) - April 5, 2017
3 Value of players on loan (only +€1m players considered) - April 5, 2017