Feb. 26 at 3:25 PM
$SEZL STRONG BUY
Fair Value:
$110.56 vs Price:
$81.05
Upside: +36.4%
WACC: 8.56%
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GROWTH
Trailing Rev: 85.3% YoY
Implied FCF: 11.6%
Implied Rev: 9.9%
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SCENARIOS
Name Prob FV Upside
Network Expansion 12% $ 192.86 +138.0%
Steady Growth 22% $ 147.49 +82.0%
Base 30% $ 117.79 +45.3%
Compression 20% $ 67.98 -16.1%
Disruption 16% $ 37.73 -53.4%
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▸ Market Implies
Revenue CAGR needed: 11.1%
COMPARABLES
P/E: 23.8x (sector 28x) →
$95
EV/EBITDA: sector 20x →
$99
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10-YEAR INTRINSIC VALUE
Today FV: $ 110.56 Mkt: $ 81.05
Year Proj Value CAGR
Y1 $ 177.01 +60.1%
Y3 $ 316.05 +41.9%
Y5 $ 365.12 +27.0%
Y7 $ 411.98 +20.7%
Y10 $ 476.72 +15.7%