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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Ps Multiple | 10.4x - 11.5x | 10.9x |
Selected Fwd Ps Multiple | 9.5x - 10.5x | 10.0x |
Fair Value | $56.71 - $62.68 | $59.69 |
Upside | -1.8% - 8.5% | 3.3% |
Benchmarks | Ticker | Full Ticker |
---|---|---|
Broadcom Inc. | - | NasdaqGS:AVGO |
Renesas Electronics Corporation | - | OTCPK:RNEC.F |
Texas Instruments Incorporated | - | NasdaqGS:TXN |
Analog Devices, Inc. | - | NasdaqGS:ADI |
Skyworks Solutions, Inc. | - | NasdaqGS:SWKS |
NVE Corporation | - | NasdaqCM:NVEC |
Select Price / LTM Sales Ratio | ||||||||
Benchmark Companies | ||||||||
AVGO | RNEC.F | TXN | ADI | SWKS | NVEC | |||
NasdaqGS:AVGO | OTCPK:RNEC.F | NasdaqGS:TXN | NasdaqGS:ADI | NasdaqGS:SWKS | NasdaqCM:NVEC | |||
Historical Sales Growth | ||||||||
5Y CAGR | 17.9% | 13.4% | 1.7% | 9.5% | 4.4% | 2.4% | ||
3Y CAGR | 23.4% | 10.7% | -5.2% | 8.8% | -6.5% | 11.7% | ||
Latest Twelve Months | 40.3% | -8.2% | -10.7% | -19.3% | -12.9% | -27.7% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 24.5% | 14.1% | 38.8% | 21.8% | 22.8% | 56.7% | ||
Prior Fiscal Year | 39.3% | 22.9% | 37.0% | 26.9% | 20.6% | 59.3% | ||
Latest Fiscal Year | 12.0% | 16.2% | 30.5% | 17.3% | 14.3% | 57.5% | ||
Latest Twelve Months | 19.1% | 16.2% | 30.5% | 16.7% | 13.0% | 58.3% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | 25.8x | 12.2x | 21.1x | 21.0x | 8.2x | 14.3x | ||
Price / LTM Sales | 12.6x | 2.2x | 8.8x | 8.7x | 2.1x | 10.9x | ||
LTM P/E Ratio | 66.2x | 13.6x | 28.8x | 52.2x | 16.1x | 18.6x | ||
Low | Mid | High | ||||||
Benchmark LTM P/S Ratio | 2.1x | 8.7x | 12.6x | |||||
Historical LTM P/S Ratio | 10.1x | 12.3x | 15.6x | |||||
Selected Price / Sales Multiple | 10.4x | 10.9x | 11.5x | |||||
(x) LTM Sales | 26 | 26 | 26 | |||||
(=) Equity Value | 266 | 280 | 294 | |||||
(/) Shares Outstanding | 4.8 | 4.8 | 4.8 | |||||
Implied Value Range | 55.07 | 57.96 | 60.86 | |||||
FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | Market Price | ||||
Implied Value Range (Trading Cur) | 55.07 | 57.96 | 60.86 | 57.77 | ||||
Upside / (Downside) | -4.7% | 0.3% | 5.4% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | AVGO | RNEC.F | TXN | ADI | SWKS | NVEC | |
Value of Common Equity | 687,848 | 2,788,385 | 137,752 | 81,638 | 8,484 | 279 | |
(/) Shares Outstanding | 4,701.9 | 1,794.8 | 909.9 | 496.0 | 160.7 | 4.8 | |
Implied Stock Price | 146.29 | 1,553.62 | 151.39 | 164.60 | 52.78 | 57.77 | |
FX Conversion Rate to Trading Currency | 1.00 | 146.85 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 146.29 | 10.58 | 151.39 | 164.60 | 52.78 | 57.77 | |
Trading Currency | USD | USD | USD | USD | USD | USD | |
FX Rate to Reporting Currency | 1.00 | 146.85 | 1.00 | 1.00 | 1.00 | 1.00 |