Aug. 20 at 4:56 PM
$EOLS Q2 2025 revenue:
$69.4 million; 2025 guidance:
$295–
$305 million.
Current market cap:
$461 million (updated).
Debt:
$154.5 million; Cash:
$61.7 million.
Shares outstanding: 64 million.
Enterprise Value (EV) = Market Cap + Debt - Cash = 461M + 154.5M - 61.7M =
$553.8 million.
EV / 2025 revenue midpoint (
$300M) = 553.8M / 300M = ~1.85x.
Assume conservative 20% annual revenue growth after 2025.
Projected revenue 2026 =
$295M × 1.2 =
$354 million.
Projected revenue 2027 =
$354M × 1.2 =
$425 million.
Using EV/Revenue multiple of 1.85x for 2027 (conservative):
EV 2027 =
$425M × 1.85 =
$786 million.
Equity value 2027 = EV - Debt + Cash = 786M - 154.5M + 61.7M =
$693 million.
Fair value per share =
$693M / 64M =
$10.8 per share.
Current price ~
$7.20 (based on market cap and shares) vs. fair value
$10.8.
Upside potential under conservative assumptions is about 50%.