Complete KPLT Stock Valuation Analysis
Comprehensive intrinsic value analysis using 2 different methodologies
KPLT DCF Analysis
KPLT (Katapult Holdings, 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 | $212.1M | $221.6M | $247.2M | $252.7M | $257.7M | $262.4M | $266.6M | $270.5M |
| Revenue Growth % | - | 4.5% | 11.6% | 2.2% | 2.0% | 1.8% | 1.6% | 1.5% |
| EBIT | $-24.4M | $-18.8M | $-8.1M | $12.6M | $12.9M | $13.1M | $13.3M | $13.5M |
| EBIT Margin % | -11.5% | -8.5% | -3.3% | 5.0% | 5.0% | 5.0% | 5.0% | 5.0% |
| Tax Rate % | 25.0% | 25.0% | 25.0% | 15.9% | 16.8% | 17.7% | 18.6% | 19.6% |
| NOPAT | $-18.3M | $-14.1M | $-6.1M | $10.6M | $10.7M | $10.8M | $10.8M | $10.9M |
| NOPAT Margin % | -8.6% | -6.4% | -2.5% | 4.2% | 4.2% | 4.1% | 4.1% | 4.0% |
| Capex | $1.5M | $974.0K | $54.0K | $2.5M | $2.6M | $2.6M | $2.7M | $2.7M |
| Capex / Revenue % | 0.7% | 0.4% | 0.0% | 1.0% | 1.0% | 1.0% | 1.0% | 1.0% |
| Depreciation | $116.7M | $126.9M | $141.0M | $142.6M | $145.4M | $148.1M | $150.5M | $152.7M |
| D&A / Revenue % | 55.0% | 57.3% | 57.0% | 56.4% | 56.4% | 56.4% | 56.4% | 56.4% |
| Change in NWC | $-62.4M | $-30.6M | $-103.7M | $11.0M | $9.0M | $7.3M | $5.9M | $4.8M |
| NWC Change / Revenue % | -29.4% | -13.8% | -41.9% | 4.4% | 3.5% | 2.8% | 2.2% | 1.8% |
| Unlevered FCF | $159.3M | $142.4M | $238.5M | $139.7M | $144.6M | $148.9M | $152.7M | $156.0M |
| UFCF % Chg. | - | -10.6% | 67.5% | -41.4% | 3.5% | 3.0% | 2.5% | 2.2% |
| FCF / Revenue % | 75.1% | 64.3% | 96.5% | 55.3% | 56.1% | 56.8% | 57.3% | 57.7% |
| Discount Factor | - | - | - | 0.933 | 0.870 | 0.812 | 0.757 | 0.706 |
| Present Value of FCF | - | - | - | $130.3M | $125.8M | $120.9M | $115.6M | $110.2M |
| Sum of PV of UFCF | - | - | - | $130.3M | $256.1M | $377.0M | $492.6M | $602.8M |
WACC Calculation
Weighted Average Cost of Capital used for discounting cash flows.
| WACC Calculation | Value |
|---|---|
| Cost of Debt | 6.9% |
| Tax Rate | 15.9% |
| After Tax Cost of Debt | 5.8% |
| Risk Free Rate | 4.40% |
| Market Risk Premium | 4.3% |
| Beta | 1.52 |
| Cost of Equity | 11.0% |
| Total Debt | $113.3M |
| Market Cap | $41.7M |
| Total Capital | $155.0M |
| Debt Weighting | 73.1% |
| Equity Weighting | 26.9% |
| WACC | 7.2% |
Terminal Value
Choose between perpetuity growth or exit multiple methods.
| Terminal Value Calculation | Value |
|---|---|
| Terminal Growth Rate | 2.5% |
| Final Year FCF | $156.0M |
| Terminal Value | $3.4B |
| PV of Terminal Value | $2.4B |
| Cumulative PV of UFCF | $602.8M |
| Net Debt | $109.8M |
| Equity Value | $2.9B |
| Shares Outstanding | 4.3M |
| Implied Share Price | $666 |
| Current Share Price | $9 |
| Implied Upside/(Downside) | +7149.4% |
Valuation Summary
$666.22
Implied Price
$9.19
Current Price
+7149.4%
Upside/Downside
7.2%
WACC
KPLT Peer Valuation Analysis
Relative valuation based on comparable company trading multiples
Peer Valuation Analysis
Fair Value Range Analysis
Based on median multiples from 5 peer companies in Technology
P/E Ratio
$-78.95
-959.1%
Peer Median: 11.7x
EV/EBITDA
$315.98
+3338.4%
Peer Median: 15.0x
P/S Ratio
$41.35
+349.9%
Peer Median: 0.7x
Interpretation: Each multiple provides a different perspective on fair value. Consider which multiple is most relevant for KPLT's business model and current situation.
Multiple Comparison
| Multiple | KPLT Current | Peer Median | Peer Average | Premium/Discount | Assessment |
|---|---|---|---|---|---|
| P/E Ratio | -1.4x | 11.7x | 12.8x | -111.6% | Undervalued |
| EV/EBITDA | 1.6x | 15.0x | 9.9x | -89.4% | Undervalued |
| P/S Ratio | 0.2x | 0.7x | 1.6x | -77.8% | Undervalued |
Peer Companies
Click any company to view their valuation
| Company | Market Cap | P/E Ratio | EV/EBITDA | P/S Ratio |
|---|---|---|---|---|
| $0.22B | 6.1x | 4.5x | 0.7x | |
| $0.20B | 11.7x | 18.6x | 0.5x | |
| $0.04B | 0.0x | 1.6x | 0.2x | |
| $0.04B | 0.0x | 0.0x | 3.8x | |
| $211.53B | 20.6x | 15.0x | 2.8x |