OREANDA-NEWS. January 13, 2011. One of the arrangers of the initial public offering of HMS Group, formerly known as Hydraulic Machines and Systems, J.P. Morgan, has valued the company at USD 1.21-1.83 bn.

The valuation was made by DCF and market-multiple methods. In particular, the Group was valued USD 1.33-1.83 bn in 2011 EV/Sales, USD 1.29-1.35 bn in EV/EBITDA, and USD 1.21-1.52 bn by DCF approach. J.P. Morgan predicts HMS’s 2011 net income to soar almost 2.5x to USD 96 mn, consolidated revenue to advance by 59% to USD 1.05 bn, and EBITDA to nearly double to USD 179 mn. In general, the group financials in 2010-2014 are to improve by 42%, 23% and 30%, respectively.