Rational Investing

Advertising Agencies/Services

	Total Market Capitalization of All Firms	$74,133 mm
	Average Market Capitalization	$7,413 mm
	Average Market to Model Ratio Weighted by Log of Market Cap	1.1
	Standard Deviation of MM Ratio	0.5
	Average Beta	1.0
	Average EV To Revenue	1.4
	Average EV To EBITDAM	18.9
	Average Price To Free Cash Flow	25.1

Ticker	Company Name	Market To Model	Market Cap ($ mm)	EV to Revenue	Price To FCF	EV/EBITDAM	% Growth	Beta	As Of
LAMR	Lamar Advertising Co	1.92	6,629	5.3	19.1	20.1	5	1.3	Mar 20
4751	CyberAgent Inc	1.75	6,367	0.1	99	37.2	13	0.5	Mar 20
OMC	Omnicom Group Inc	1.64	12,063	1.2	12.4	14.3	-1	0.8	Mar 20
WPP	Wpp Group Plc	1.01	9,550	1.1	37.8	30	2	1.4	Dec 19
WPP.L	Wpp Group Plc	1.00	9,461	1.2	6.1	30	2	1.4	Dec 19
DEC.PA	JCDecaux SA	0.99	4,288	1.5	18.3	10.1	5	1.2	Dec 19
IPG	Interpublic Group Of Companies	0.97	6,622	1.1	17.1	13.3	2	1.1	Mar 20
2433	Hakuhodo DY Holdings Inc	0.72	4,733	0.1	28.5	18.4	1	1.1	Mar 20
4324	DENTSU INC	0.59	7,805	0.6	6.7	7.1	8	0.9	Dec 19
PUB.PA	Publicis Groupe SA	0.56	6,613	1.2	6.4	8.6	10	0.8	Dec 19