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Metrics | Range | Conclusion |
---|---|---|
Selected LTM P/E Multiple | -4.8x - -5.3x | -5.1x |
Selected Fwd P/E Multiple | -18.8x - -20.7x | -19.7x |
Fair Value | $4.71 - $5.21 | $4.96 |
Upside | 19.3% - 31.9% | 25.6% |
Benchmarks | - | Full Ticker |
CoreWeave, Inc. | - | NasdaqGS:CRWV |
Core Scientific, Inc. | - | NasdaqGS:CORZ |
TeraWulf Inc. | - | NasdaqCM:WULF |
Cipher Mining Inc. | - | NasdaqGS:CIFR |
Bit Digital, Inc. | - | NasdaqCM:BTBT |
Applied Digital Corporation | - | NasdaqGS:APLD |
- | - | - |
Select Price / LTM EPS Ratio | ||||||||
Benchmark Companies | ||||||||
CRWV | CORZ | WULF | CIFR | BTBT | APLD | |||
NasdaqGS:CRWV | NasdaqGS:CORZ | NasdaqCM:WULF | NasdaqGS:CIFR | NasdaqCM:BTBT | NasdaqGS:APLD | |||
Historical Net Income Growth | ||||||||
5Y CAGR | NM- | NM- | NM- | NM- | NM- | NM- | ||
3Y CAGR | NM- | NM- | NM- | NM- | NM- | NM- | ||
Latest Twelve Months | -57.9% | -355.4% | 1.2% | -73.2% | 303.7% | -167.5% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | -144.3% | -119.1% | -5701.0% | -174.6% | -74.8% | -254.7% | ||
Prior Fiscal Year | -259.3% | -49.1% | -105.9% | -20.3% | -30.9% | -80.6% | ||
Latest Fiscal Year | -49.0% | -219.8% | -51.7% | -29.5% | 26.3% | -90.2% | ||
Latest Twelve Months | -49.0% | -219.8% | -51.7% | -29.5% | 26.3% | -110.4% | ||
Current Trading Multiples | ||||||||
EV / LTM EBITDA | 24.5x | 23.6x | 173.1x | 13.8x | 3.7x | 75.1x | ||
Price / LTM Sales | 9.5x | 3.8x | 6.4x | 5.6x | 3.0x | 4.0x | ||
LTM P/E Ratio | -19.3x | -1.7x | -12.4x | -19.1x | 11.5x | -3.6x | ||
Low | Mid | High | ||||||
Benchmark LTM P/E Ratio | -19.3x | -12.4x | 11.5x | |||||
Historical LTM P/E Ratio | -26.3x | -18.8x | -6.2x | |||||
Selected P/E Multiple | -4.8x | -5.1x | -5.3x | |||||
(x) LTM Net Income | (244) | (244) | (244) | |||||
(=) Equity Value | 1,174 | 1,235 | 1,297 | |||||
(/) Shares Outstanding | 224.7 | 224.7 | 224.7 | |||||
Implied Value Range | 5.22 | 5.50 | 5.77 | |||||
FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | Market Price | ||||
Implied Value Range (Trading Cur) | 5.22 | 5.50 | 5.77 | 3.95 | ||||
Upside / (Downside) | 32.2% | 39.2% | 46.1% |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | CRWV | CORZ | WULF | CIFR | BTBT | APLD | |
Value of Common Equity | 18,142 | 1,955 | 902 | 852 | 325 | 888 | |
(/) Shares Outstanding | 464.1 | 294.9 | 383.6 | 359.7 | 182.4 | 224.7 | |
Implied Stock Price | 39.09 | 6.63 | 2.35 | 2.37 | 1.78 | 3.95 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 39.09 | 6.63 | 2.35 | 2.37 | 1.78 | 3.95 | |
Trading Currency | USD | USD | USD | USD | USD | USD | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |