Complete CUE Stock Valuation Analysis
Comprehensive intrinsic value analysis using 2 different methodologies
CUE DCF Analysis
CUE (Cue Biopharma, 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 | $1.2M | $5.5M | $9.3M | $11.6M | $14.5M | $18.1M | $22.7M | $28.3M |
| Revenue Growth % | - | 340.9% | 69.2% | 25.0% | 25.0% | 25.0% | 25.0% | 25.0% |
| EBIT | $-53.2M | $-52.1M | $-41.5M | $580.4K | $725.5K | $906.9K | $1.1M | $1.4M |
| EBIT Margin % | -4274.3% | -949.9% | -446.9% | 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 | $-39.9M | $-39.1M | $-31.1M | $435.3K | $544.2K | $680.2K | $850.3K | $1.1M |
| NOPAT Margin % | -3205.7% | -712.4% | -335.1% | 3.8% | 3.8% | 3.8% | 3.8% | 3.8% |
| Capex | $170.7K | $0 | $66.0K | $914.9K | $1.1M | $1.3M | $1.5M | $1.8M |
| Capex / Revenue % | 13.7% | 0.0% | 0.7% | 7.9% | 7.5% | 7.1% | 6.8% | 6.4% |
| Depreciation | $1.8M | $3.4M | $2.4M | $9.0M | $11.3M | $14.1M | $17.6M | $22.0M |
| D&A / Revenue % | 145.0% | 62.6% | 25.3% | 77.6% | 77.6% | 77.6% | 77.6% | 77.6% |
| Change in NWC | $10.0M | $-31.3M | $-22.9M | $0 | $0 | $0 | $0 | $0 |
| NWC Change / Revenue % | 799.7% | -569.5% | -246.8% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Unlevered FCF | $-48.2M | $-4.4M | $-5.9M | $8.5M | $10.7M | $13.5M | $16.9M | $21.2M |
| UFCF % Chg. | - | 90.9% | -34.2% | 244.2% | 25.7% | 25.6% | 25.6% | 25.6% |
| FCF / Revenue % | -3874.1% | -80.3% | -63.7% | 73.5% | 73.9% | 74.3% | 74.6% | 75.0% |
| Discount Factor | - | - | - | 0.912 | 0.831 | 0.757 | 0.690 | 0.629 |
| Present Value of FCF | - | - | - | $7.8M | $8.9M | $10.2M | $11.7M | $13.4M |
| Sum of PV of UFCF | - | - | - | $7.8M | $16.7M | $26.9M | $38.6M | $52.0M |
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 | 1.42 |
| Cost of Equity | 10.6% |
| Total Debt | $8.9M |
| Market Cap | $46.8M |
| Total Capital | $55.7M |
| Debt Weighting | 15.9% |
| Equity Weighting | 84.1% |
| WACC | 9.7% |
Terminal Value
Choose between perpetuity growth or exit multiple methods.
| Terminal Value Calculation | Value |
|---|---|
| Terminal Growth Rate | 2.5% |
| Final Year FCF | $21.2M |
| Terminal Value | $302.4M |
| PV of Terminal Value | $190.3M |
| Cumulative PV of UFCF | $52.0M |
| Net Debt | $-13.6M |
| Equity Value | $255.8M |
| Shares Outstanding | 56.3M |
| Implied Share Price | $5 |
| Current Share Price | $1 |
| Implied Upside/(Downside) | +631.3% |
Valuation Summary
$4.54
Implied Price
$0.62
Current Price
+631.3%
Upside/Downside
9.7%
WACC
CUE Peer Valuation Analysis
Relative valuation based on comparable company trading multiples
Peer Valuation Analysis
Fair Value Range Analysis
Based on median multiples from 8 peer companies in Healthcare
P/E Ratio
$0.00
-100.0%
Peer Median: 0.0x
EV/EBITDA
$0.00
-100.0%
Peer Median: 0.0x
P/S Ratio
$0.06
-90.0%
Peer Median: 0.6x
Interpretation: Each multiple provides a different perspective on fair value. Consider which multiple is most relevant for CUE's business model and current situation.
Multiple Comparison
| Multiple | CUE Current | Peer Median | Peer Average | Premium/Discount | Assessment |
|---|---|---|---|---|---|
| P/E Ratio | -1.1x | 0.0x | 0.0x | -Infinity% | Undervalued |
| EV/EBITDA | Infinityx | 0.0x | 0.0x | Infinity% | Overvalued |
| P/S Ratio | 5.9x | 0.6x | 1.8x | 901.7% | Overvalued |
Peer Companies
Click any company to view their valuation
| Company | Market Cap | P/E Ratio | EV/EBITDA | P/S Ratio |
|---|---|---|---|---|
| $0.06B | 0.0x | 0.0x | 522.2x | |
| $0.04B | 0.0x | 0.0x | 2608.0x | |
| $0.06B | 0.0x | 0.0x | 0.6x | |
| $0.05B | 0.0x | 0.0x | 5.9x | |
| $0.05B | 0.0x | 0.0x | 0.5x | |
| $0.06B | 0.0x | 0.0x | 0.0x | |
| $0.05B | 0.0x | 0.0x | 0.5x | |
| $0.05B | 0.0x | 0.0x | 0.0x |