Complete CLIR Stock Valuation Analysis
Comprehensive intrinsic value analysis using 2 different methodologies
CLIR DCF Analysis
CLIR (ClearSign Technologies Corporation) discounted cash flow analysis with multiple scenarios, growth assumptions, and terminal value calculations
Financial Projections
| Metrics | 2022 (Historical) | 2023 (Historical) | 2024 (Historical) | 2025 (Projected) | 2026 (Projected) | 2027 (Projected) | 2028 (Projected) | 2029 (Projected) |
|---|---|---|---|---|---|---|---|---|
| Revenue | $374.0K | $2.4M | $3.6M | $4.5M | $5.6M | $7.0M | $8.8M | $11.0M |
| Revenue Growth % | - | 542.5% | 49.6% | 25.0% | 25.0% | 25.0% | 25.0% | 25.0% |
| EBIT | $-5.9M | $-6.0M | $-6.5M | $224.8K | $280.9K | $351.2K | $439.0K | $548.7K |
| EBIT Margin % | -1573.5% | -248.9% | -180.4% | 5.0% | 5.0% | 5.0% | 5.0% | 5.0% |
| Tax Rate % | 25.0% | 25.0% | 25.0% | 25.0% | 25.0% | 25.0% | 25.0% | 25.0% |
| NOPAT | $-4.4M | $-4.5M | $-4.9M | $168.6K | $210.7K | $263.4K | $329.2K | $411.5K |
| NOPAT Margin % | -1180.1% | -186.7% | -135.3% | 3.8% | 3.8% | 3.8% | 3.8% | 3.8% |
| Capex | $164.0K | $200.0K | $218.0K | $323.3K | $383.9K | $455.9K | $541.4K | $642.9K |
| Capex / Revenue % | 43.9% | 8.3% | 6.1% | 7.2% | 6.8% | 6.5% | 6.2% | 5.9% |
| Depreciation | $292.0K | $424.0K | $272.0K | $1.5M | $1.9M | $2.4M | $3.0M | $3.8M |
| D&A / Revenue % | 78.1% | 17.6% | 7.6% | 34.4% | 34.4% | 34.4% | 34.4% | 34.4% |
| Change in NWC | $1.3M | $-4.3M | $8.6M | $45.0K | $56.2K | $70.2K | $87.8K | $109.7K |
| NWC Change / Revenue % | 345.7% | -180.3% | 237.9% | 1.0% | 1.0% | 1.0% | 1.0% | 1.0% |
| Unlevered FCF | $-5.6M | $71.3K | $-13.4M | $1.3M | $1.7M | $2.2M | $2.7M | $3.4M |
| UFCF % Chg. | - | 101.3% | -18862.1% | 110.1% | 26.5% | 26.4% | 26.3% | 26.2% |
| FCF / Revenue % | -1491.6% | 3.0% | -371.7% | 30.0% | 30.3% | 30.7% | 31.0% | 31.3% |
| Discount Factor | - | - | - | 0.915 | 0.837 | 0.765 | 0.700 | 0.640 |
| Present Value of FCF | - | - | - | $1.2M | $1.4M | $1.6M | $1.9M | $2.2M |
| Sum of PV of UFCF | - | - | - | $1.2M | $2.7M | $4.3M | $6.2M | $8.4M |
WACC Calculation
Weighted Average Cost of Capital used for discounting cash flows.
| WACC Calculation | Value |
|---|---|
| Cost of Debt | 7.3% |
| Tax Rate | 25.0% |
| After Tax Cost of Debt | 5.5% |
| Risk Free Rate | 4.35% |
| Market Risk Premium | 4.3% |
| Beta | 1.16 |
| Cost of Equity | 9.4% |
| Total Debt | $188.0K |
| Market Cap | $28.2M |
| Total Capital | $28.3M |
| Debt Weighting | 0.7% |
| Equity Weighting | 99.3% |
| WACC | 9.3% |
Terminal Value
Choose between perpetuity growth or exit multiple methods.
| Terminal Value Calculation | Value |
|---|---|
| Terminal Growth Rate | 2.5% |
| Final Year FCF | $3.4M |
| Terminal Value | $51.6M |
| PV of Terminal Value | $33.0M |
| Cumulative PV of UFCF | $8.4M |
| Net Debt | $-13.8M |
| Equity Value | $55.3M |
| Shares Outstanding | 48.9M |
| Implied Share Price | $1 |
| Current Share Price | $1 |
| Implied Upside/(Downside) | +110.3% |
Valuation Summary
$1.13
Implied Price
$0.54
Current Price
+110.3%
Upside/Downside
9.3%
WACC
CLIR Peer Valuation Analysis
Relative valuation based on comparable company trading multiples
Peer Valuation Analysis
Fair Value Range Analysis
Based on median multiples from 6 peer companies in Industrials
P/E Ratio
$-3.16
-688.0%
Peer Median: 27.7x
EV/EBITDA
$0.00
-100.0%
Peer Median: 19.1x
P/S Ratio
$0.26
-52.3%
Peer Median: 4.6x
Interpretation: Each multiple provides a different perspective on fair value. Consider which multiple is most relevant for CLIR's business model and current situation.
Multiple Comparison
| Multiple | CLIR Current | Peer Median | Peer Average | Premium/Discount | Assessment |
|---|---|---|---|---|---|
| P/E Ratio | -4.7x | 27.7x | 27.6x | -117.0% | Undervalued |
| EV/EBITDA | Infinityx | 19.1x | 21.2x | Infinity% | Overvalued |
| P/S Ratio | 9.7x | 4.6x | 6.3x | 109.5% | Overvalued |
Peer Companies
Click any company to view their valuation
| Company | Market Cap | P/E Ratio | EV/EBITDA | P/S Ratio |
|---|---|---|---|---|
| $0.04B | 0.0x | 0.0x | 13.8x | |
| $0.03B | 1.7x | 2.8x | 0.4x | |
| $0.03B | 0.0x | 0.0x | 0.0x | |
| $0.04B | 53.4x | 41.7x | 2.8x | |
| $0.03B | 0.0x | 0.0x | 9.7x | |
| $91.89B | 27.7x | 19.1x | 4.6x |