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 EBITDA Multiple | 35.7x - 39.5x | 37.6x |
Selected Fwd EBITDA Multiple | 23.8x - 26.3x | 25.0x |
Fair Value | $139.02 - $153.43 | $146.23 |
Upside | -11.5% - -2.3% | -6.9% |
Benchmarks | Ticker | Full Ticker |
Rambus Inc. | RMBS | NasdaqGS:RMBS |
Semtech Corporation | SMTC | NasdaqGS:SMTC |
Ambarella, Inc. | AMBA | NasdaqGS:AMBA |
MaxLinear, Inc. | MXL | NasdaqGS:MXL |
Synaptics Incorporated | SYNA | NasdaqGS:SYNA |
Advanced Micro Devices, Inc. | AMD | NasdaqGS:AMD |
- | - | - |
Select LTM EBITDA Multiple | |||||||
Benchmark Companies | |||||||
RMBS | SMTC | AMBA | MXL | SYNA | AMD | ||
NasdaqGS:RMBS | NasdaqGS:SMTC | NasdaqGS:AMBA | NasdaqGS:MXL | NasdaqGS:SYNA | NasdaqGS:AMD | ||
Historical EBITDA Growth | |||||||
5Y CAGR | NM- | 2.8% | NM- | NM- | -22.4% | 43.3% | |
3Y CAGR | 42.6% | -15.6% | NM- | NM- | -48.7% | 8.3% | |
Latest Twelve Months | 58.0% | 194.4% | 31.2% | -218.9% | 254.4% | 53.2% | |
Historical EBITDA Profit Margin | |||||||
5 Year Average Margin | 23.6% | 16.7% | -29.7% | 5.1% | 17.1% | 19.6% | |
Prior Fiscal Year | 30.3% | 5.2% | -62.4% | 8.0% | 23.0% | 17.0% | |
Latest Fiscal Year | 39.8% | 11.6% | -39.8% | -31.8% | 3.6% | 20.0% | |
Latest Twelve Months | 41.8% | 14.3% | -31.5% | -29.4% | 7.3% | 21.2% | |
Current Trading Multiples | |||||||
EV / LTM Revenue | 11.42x | 5.24x | 8.55x | 3.93x | 2.94x | 9.08x | |
EV / LTM EBITDA | 27.3x | 36.5x | -27.1x | -13.4x | 40.1x | 42.9x | |
EV / LTM EBIT | 32.7x | 53.1x | -23.9x | -9.2x | -56.2x | 88.2x | |
Low | Mid | High | |||||
Benchmark EV / LTM EBITDA | -27.1x | 27.3x | 40.1x | ||||
Historical EV / LTM EBITDA | 18.0x | 49.9x | 77.2x | ||||
Selected EV / LTM EBITDA | 35.7x | 37.6x | 39.5x | ||||
(x) LTM EBITDA | 5,878 | 5,878 | 5,878 | ||||
(=) Implied Enterprise Value | 209,880 | 220,927 | 231,973 | ||||
(-) Non-shareholder Claims * | 3,386 | 3,386 | 3,386 | ||||
(=) Equity Value | 213,266 | 224,313 | 235,359 | ||||
(/) Shares Outstanding | 1,621.4 | 1,621.4 | 1,621.4 | ||||
Implied Value Range | 131.53 | 138.34 | 145.16 | ||||
FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | Market Price | |||
Implied Value Range (Trading Cur) | 131.53 | 138.34 | 145.16 | 157.00 | |||
Upside / (Downside) | -16.2% | -11.9% | -7.5% |
Equity Waterfall | |||||||
Benchmark Companies | |||||||
(in millions) | RMBS | SMTC | AMBA | MXL | SYNA | AMD | |
Enterprise Value | 6,917 | 4,997 | 2,703 | 1,421 | 3,053 | 251,174 | |
(+) Cash & Short Term Investments | 514 | 169 | 259 | 103 | 421 | 7,310 | |
(+) Investments & Other | 0 | 0 | 0 | 0 | 0 | 807 | |
(-) Debt | (29) | (569) | (4) | (149) | (881) | (4,731) | |
(-) Other Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | |
(-) Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | |
(-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
Value of Common Equity | 7,402 | 4,597 | 2,958 | 1,375 | 2,593 | 254,560 | |
(/) Shares Outstanding | 107.4 | 86.6 | 42.4 | 86.4 | 38.5 | 1,621.4 | |
Implied Stock Price | 68.91 | 53.06 | 69.75 | 15.92 | 67.26 | 157.00 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 68.91 | 53.06 | 69.75 | 15.92 | 67.26 | 157.00 | |
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 |