Emerging Trends and Challenges
FTPartnersResearch-GlobalMoneyTransferTrends
FTPartnersResearch-GlobalMoneyTransferTrends
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Global Money Transfer<br />
Public Valuation Comparables<br />
International Specialists<br />
Established Consumer Remittance Providers<br />
HiFX acquired by<br />
Euronet in March<br />
2014 for 3.8x LTM<br />
revenues <strong>and</strong> 13.4x<br />
LTM EBITDA<br />
CY 2016E<br />
CY 2017E<br />
EV / Revenue<br />
5.1x<br />
4.3x<br />
EV / Revenue<br />
Xoom acquired by<br />
PayPal in July 2015<br />
for 5.3x LTM<br />
revenue <strong>and</strong> 44.5x<br />
LTM EBITDA<br />
1.7x<br />
1.3x<br />
2.2x<br />
2.1x<br />
0.8x<br />
0.8x<br />
2.1x<br />
1.9x<br />
Earthport<br />
OFX<br />
Western Union MoneyGram Euronet<br />
EV / EBITDA<br />
EV / EBITDA<br />
15.0x<br />
13.5x<br />
11.6x 11.1x<br />
8.8x<br />
8.6x<br />
11.8x<br />
4.9x<br />
4.6x<br />
nm 0.0x<br />
Earthport<br />
OFX<br />
Western Union MoneyGram Euronet<br />
Source: Capital IQ, updated as of April 25, 2016.<br />
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