Looks like there`s been an error while trying to load this page.
Our team has been notified but please contact us using the email support widget if the problem persists.
| Metrics | Range | Conclusion |
|---|---|---|
| Selected LTM EBIT Multiple | 41.3x - 45.6x | 43.5x |
| Selected Fwd EBIT Multiple | 21.7x - 23.9x | 22.8x |
| Fair Value | $86.85 - $95.44 | $91.15 |
| Upside | 19.9% - 31.8% | 25.9% |
| Benchmarks | Ticker | Full Ticker |
| Semtech Corporation | SMTC | NasdaqGS:SMTC |
| Advanced Micro Devices, Inc. | AMD | NasdaqGS:AMD |
| Astera Labs, Inc. | ALAB | NasdaqGS:ALAB |
| Synaptics Incorporated | SYNA | NasdaqGS:SYNA |
| ON Semiconductor Corporation | ON | NasdaqGS:ON |
| Rambus Inc. | RMBS | NasdaqGS:RMBS |
| - | - | - |
| Select LTM EBIT Multiple | |||||||
| Benchmark Companies | |||||||
| SMTC | AMD | ALAB | SYNA | ON | RMBS | ||
| NasdaqGS:SMTC | NasdaqGS:AMD | NasdaqGS:ALAB | NasdaqGS:SYNA | NasdaqGS:ON | NasdaqGS:RMBS | ||
| Historical EBIT Growth | |||||||
| 5Y CAGR | 3.8% | 27.0% | NM- | NM- | 25.3% | NM- | |
| 3Y CAGR | -24.5% | -17.0% | NM- | NM- | 11.3% | 77.3% | |
| Latest Twelve Months | 639.4% | 390.7% | 76.7% | 45.4% | -46.6% | 86.4% | |
| Historical EBIT Profit Margin | |||||||
| 5 Year Average Margin | 11.1% | 10.1% | -38.7% | 7.1% | 23.5% | 14.0% | |
| Prior Fiscal Year | -3.8% | 1.8% | -25.5% | 11.4% | 31.7% | 19.8% | |
| Latest Fiscal Year | 6.9% | 8.1% | -29.3% | -7.8% | 27.0% | 32.2% | |
| Latest Twelve Months | 9.9% | 10.3% | -4.4% | -5.2% | 20.2% | 36.3% | |
| Current Trading Multiples | |||||||
| EV / LTM Revenue | 4.97x | 9.94x | 42.20x | 2.69x | 3.66x | 11.19x | |
| EV / LTM EBITDA | 34.7x | 46.9x | -1140.3x | 36.6x | 12.2x | 26.3x | |
| EV / LTM EBIT | 50.4x | 96.6x | -948.7x | -51.4x | 18.1x | 30.9x | |
| Low | Mid | High | |||||
| Benchmark EV / LTM EBIT | -948.7x | 18.1x | 96.6x | ||||
| Historical EV / LTM EBIT | -37.9x | 48.2x | 377.5x | ||||
| Selected EV / LTM EBIT | 41.3x | 43.5x | 45.6x | ||||
| (x) LTM EBIT | 234 | 234 | 234 | ||||
| (=) Implied Enterprise Value | 9,670 | 10,179 | 10,688 | ||||
| (-) Non-shareholder Claims * | 567 | 567 | 567 | ||||
| (=) Equity Value | 10,237 | 10,746 | 11,255 | ||||
| (/) Shares Outstanding | 107.6 | 107.6 | 107.6 | ||||
| Implied Value Range | 95.15 | 99.88 | 104.61 | ||||
| FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | Market Price | |||
| Implied Value Range (Trading Cur) | 95.15 | 99.88 | 104.61 | 72.41 | |||
| Upside / (Downside) | 31.4% | 37.9% | 44.5% | ||||
| Equity Waterfall | |||||||
| Benchmark Companies | |||||||
| (in millions) | SMTC | AMD | ALAB | SYNA | ON | RMBS | |
| Enterprise Value | 4,744 | 275,009 | 20,696 | 2,791 | 24,404 | 7,224 | |
| (+) Cash & Short Term Investments | 169 | 7,310 | 925 | 421 | 3,013 | 595 | |
| (+) Investments & Other | 0 | 807 | 0 | 0 | 0 | 0 | |
| (-) Debt | (569) | (4,731) | 0 | (881) | (3,653) | (28) | |
| (-) Other Liabilities | 0 | 0 | 0 | 0 | (19) | 0 | |
| (-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
| (-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
| Value of Common Equity | 4,344 | 278,395 | 21,621 | 2,331 | 23,744 | 7,791 | |
| (/) Shares Outstanding | 86.6 | 1,621.4 | 164.9 | 38.5 | 417.9 | 107.6 | |
| Implied Stock Price | 50.14 | 171.70 | 131.10 | 60.47 | 56.82 | 72.41 | |
| FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| Implied Stock Price (Trading Cur) | 50.14 | 171.70 | 131.10 | 60.47 | 56.82 | 72.41 | |
| 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 | |