Rational Investing

	Total Market Capitalization of All Firms	$45,527 mm
	Average Market Capitalization	$6,504 mm
	Average Market to Model Ratio Weighted by Log of Market Cap	1.1
	Standard Deviation of MM Ratio	0.3
	Average Beta	1.1
	Average EV To Revenue	1.8
	Average EV To EBITDAM	13.4
	Average Price To Free Cash Flow	21.0

Ticker	Company Name	Market To Model	Market Cap ($ mm)	EV to Revenue	Price To FCF	EV/EBITDAM	% Growth	Beta	As Of
4676	Fuji Media Holdings Inc	1.69	2,652	0.6	80.3	16.1	-19	1.0	Sep 20
9401	Tokyo Broadcasting System Hold	1.36	3,271	0.1	17.1	30	-9	1.2	Sep 20
RRTL.DE	RTL Group S.A.	1.10	7,855	1.4	18.0	10.4	-2	0.7	Jun 20
SGA	Saga Communications Inc.	0.94	128	1.2	5.9	4.6	-1	1.0	Mar 19
SIRI	Sirius XM holdings	0.94	27,598	4.2	6	14.5	8	1.1	Sep 20
ETM	Entercom Communications Corp	0.86	589	2.0	4.1	9.5	15	1.3	Sep 19
TGNA	Tegna Inc	0.63	3,433	2.8	15.7	9.1	21	1.2	Sep 20