Complete CRMD Stock Valuation Analysis
Comprehensive intrinsic value analysis using 3 different methodologies
CRMD DCF Analysis
CRMD (CorMedix Inc.) 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 | $65.4K | $0 | $43.5M | $39.1M | $35.2M | $31.7M | $28.5M | $25.7M |
| Revenue Growth % | - | -100.0% | Infinity% | -10.0% | -10.0% | -10.0% | -10.0% | -10.0% |
| EBIT | $-30.6M | $-49.0M | $-22.4M | $2.0M | $1.8M | $1.6M | $1.4M | $1.3M |
| EBIT Margin % | -46819.9% | 0.0% | -51.4% | 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 | $-23.0M | $-36.7M | $-16.8M | $1.5M | $1.3M | $1.2M | $1.1M | $962.6K |
| NOPAT Margin % | -35114.9% | -Infinity% | -38.6% | 3.8% | 3.8% | 3.8% | 3.8% | 3.8% |
| Capex | $219.4K | $327.3K | $115.7K | $391.2K | $352.1K | $316.9K | $285.2K | $256.7K |
| Capex / Revenue % | 335.4% | Infinity% | 0.3% | 1.0% | 1.0% | 1.0% | 1.0% | 1.0% |
| Depreciation | $84.6K | $70.8K | $309.8K | $InfinityB | $InfinityB | $InfinityB | $InfinityB | $InfinityB |
| D&A / Revenue % | 129.4% | Infinity% | 0.7% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% |
| Change in NWC | $-7.9M | $14.8M | $-33.8B | $0 | $0 | $0 | $0 | $0 |
| NWC Change / Revenue % | -12052.8% | Infinity% | -77735.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Unlevered FCF | $-15.2M | $-51.8M | $33.8B | $InfinityB | $InfinityB | $InfinityB | $InfinityB | $InfinityB |
| UFCF % Chg. | - | -240.3% | 65325.2% | Infinity% | NaN% | NaN% | NaN% | NaN% |
| FCF / Revenue % | -23268.2% | -Infinity% | 77696.9% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% |
| Discount Factor | - | - | - | 0.898 | 0.806 | 0.724 | 0.650 | 0.584 |
| Present Value of FCF | - | - | - | $InfinityB | $InfinityB | $InfinityB | $InfinityB | $InfinityB |
| Sum of PV of UFCF | - | - | - | $InfinityB | $InfinityB | $InfinityB | $InfinityB | $InfinityB |
WACC Calculation
Weighted Average Cost of Capital used for discounting cash flows.
| WACC Calculation | Value |
|---|---|
| Cost of Debt | 6.9% |
| Tax Rate | 25.0% |
| After Tax Cost of Debt | 5.2% |
| Risk Free Rate | 4.40% |
| Market Risk Premium | 4.3% |
| Beta | 1.61 |
| Cost of Equity | 11.4% |
| Total Debt | $517.0K |
| Market Cap | $933.9M |
| Total Capital | $934.5M |
| Debt Weighting | 0.1% |
| Equity Weighting | 99.9% |
| WACC | 11.4% |
Terminal Value
Choose between perpetuity growth or exit multiple methods.
| Terminal Value Calculation | Value |
|---|---|
| Terminal Growth Rate | 2.5% |
| Final Year FCF | $InfinityB |
| Terminal Value | $InfinityB |
| PV of Terminal Value | $InfinityB |
| Cumulative PV of UFCF | $InfinityB |
| Net Debt | $-40.1M |
| Equity Value | $InfinityB |
| Shares Outstanding | 58.9M |
| Implied Share Price | $InfinityB |
| Current Share Price | $14 |
| Implied Upside/(Downside) | +Infinity% |
Valuation Summary
$Infinity
Implied Price
$13.77
Current Price
+Infinity%
Upside/Downside
11.4%
WACC
CRMD Peer Valuation Analysis
Relative valuation based on comparable company trading multiples
Peer Valuation Analysis
Fair Value Range Analysis
Based on median multiples from 9 peer companies in Healthcare
P/E Ratio
$13.77
+0.0%
Peer Median: 55.3x
EV/EBITDA
$2.91
-78.9%
Peer Median: 11.1x
P/S Ratio
$6.19
-55.0%
Peer Median: 5.1x
Interpretation: Each multiple provides a different perspective on fair value. Consider which multiple is most relevant for CRMD's business model and current situation.
Multiple Comparison
| Multiple | CRMD Current | Peer Median | Peer Average | Premium/Discount | Assessment |
|---|---|---|---|---|---|
| P/E Ratio | 55.3x | 55.3x | 42.8x | 0.0% | Fair Value |
| EV/EBITDA | 50.3x | 11.1x | 20.7x | 353.6% | Overvalued |
| P/S Ratio | 11.3x | 5.1x | 6.1x | 122.4% | Overvalued |
Peer Companies
Click any company to view their valuation
| Company | Market Cap | P/E Ratio | EV/EBITDA | P/S Ratio |
|---|---|---|---|---|
| $0.97B | 30.8x | 11.1x | 0.8x | |
| $1.08B | 0.0x | 67.8x | 5.1x | |
| $0.97B | 22.6x | 5.3x | 1.5x | |
| $0.93B | 55.3x | 50.3x | 11.3x | |
| $0.89B | 0.0x | 0.0x | 0.0x | |
| $1.00B | 0.0x | 0.0x | 0.0x | |
| $0.73B | 0.0x | 0.0x | 3.3x | |
| $0.85B | 0.0x | 0.0x | 77.4x | |
| $729.91B | 62.5x | 45.6x | 14.9x |
CRMD Graham Number
Benjamin Graham's conservative valuation formula for defensive investors
Input Data
| EPS (TTM) | $0.25 | Latest 10-K |
| Book Value per Share | $1437.99 | Latest 10-K Balance Sheet |
| Graham Constant | 22.5 | Benjamin Graham's formula |
Graham Number Result
$89.77
Intrinsic Value
$13.77
Current Price
+551.9%
Upside/Downside
Confidence: High
Conservative value investing approach
Calculation Breakdown
Formula:
√(22.5 × EPS × BVPS)
Step 1: Multiply constant by EPS
22.5 × 0.25 = 5.60
Step 2: Multiply by Book Value per Share
5.60 × 1437.99 = 8058.76
Step 3: Take square root
√8058.76 = 89.77
Graham Number Result:
$89.77