Complete MRKR Stock Valuation Analysis
Comprehensive intrinsic value analysis using 2 different methodologies
MRKR DCF Analysis
MRKR (Marker Therapeutics, 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 | $9.0M | $3.3M | $6.6M | $8.2M | $10.3M | $12.9M | $16.1M | $20.1M |
| Revenue Growth % | - | -63.2% | 99.1% | 25.0% | 25.0% | 25.0% | 25.0% | 25.0% |
| EBIT | $-29.9M | $-14.6M | $-11.1M | $411.9K | $514.9K | $643.7K | $804.6K | $1.0M |
| EBIT Margin % | -332.6% | -440.4% | -168.7% | 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 | $-22.5M | $-10.9M | $-8.3M | $309.0K | $386.2K | $482.7K | $603.4K | $754.3K |
| NOPAT Margin % | -249.4% | -330.3% | -126.5% | 3.8% | 3.8% | 3.8% | 3.8% | 3.8% |
| Capex | $4.9M | $0 | $0 | $82.4K | $103.0K | $128.7K | $160.9K | $201.1K |
| Capex / Revenue % | 54.9% | 0.0% | 0.0% | 1.0% | 1.0% | 1.0% | 1.0% | 1.0% |
| Depreciation | $3.7M | $0 | $0 | $1.1M | $1.4M | $1.8M | $2.2M | $2.7M |
| D&A / Revenue % | 40.9% | 0.0% | 0.0% | 13.6% | 13.6% | 13.6% | 13.6% | 13.6% |
| Change in NWC | $-24.2M | $5.2M | $4.5M | $0 | $0 | $0 | $0 | $0 |
| NWC Change / Revenue % | -269.2% | 157.5% | 68.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Unlevered FCF | $519.1K | $-16.2M | $-12.8M | $1.3M | $1.7M | $2.1M | $2.6M | $3.3M |
| UFCF % Chg. | - | -3211.1% | 20.5% | 110.5% | 25.0% | 25.0% | 25.0% | 25.0% |
| FCF / Revenue % | 5.8% | -487.8% | -194.9% | 16.4% | 16.4% | 16.4% | 16.4% | 16.4% |
| Discount Factor | - | - | - | 0.903 | 0.816 | 0.737 | 0.666 | 0.602 |
| Present Value of FCF | - | - | - | $1.2M | $1.4M | $1.6M | $1.8M | $2.0M |
| Sum of PV of UFCF | - | - | - | $1.2M | $2.6M | $4.1M | $5.9M | $7.9M |
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 | 1.45 |
| Cost of Equity | 10.7% |
| Total Debt | $0 |
| Market Cap | $17.1M |
| Total Capital | $17.1M |
| Debt Weighting | 0.0% |
| Equity Weighting | 100.0% |
| WACC | 10.7% |
Terminal Value
Choose between perpetuity growth or exit multiple methods.
| Terminal Value Calculation | Value |
|---|---|
| Terminal Growth Rate | 2.5% |
| Final Year FCF | $3.3M |
| Terminal Value | $41.2M |
| PV of Terminal Value | $24.8M |
| Cumulative PV of UFCF | $7.9M |
| Net Debt | $-19.2M |
| Equity Value | $51.9M |
| Shares Outstanding | 9.0M |
| Implied Share Price | $6 |
| Current Share Price | $2 |
| Implied Upside/(Downside) | +282.8% |
Valuation Summary
$5.78
Implied Price
$1.51
Current Price
+282.8%
Upside/Downside
10.7%
WACC
MRKR 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 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
$8.87
+487.4%
Peer Median: 17.6x
Interpretation: Each multiple provides a different perspective on fair value. Consider which multiple is most relevant for MRKR's business model and current situation.
Multiple Comparison
| Multiple | MRKR Current | Peer Median | Peer Average | Premium/Discount | Assessment |
|---|---|---|---|---|---|
| P/E Ratio | -1.3x | 0.0x | 0.0x | -Infinity% | Undervalued |
| EV/EBITDA | -Infinityx | 0.0x | 0.0x | -Infinity% | Undervalued |
| P/S Ratio | 3.0x | 17.6x | 10.3x | -83.0% | Undervalued |
Peer Companies
Click any company to view their valuation
| Company | Market Cap | P/E Ratio | EV/EBITDA | P/S Ratio |
|---|---|---|---|---|
| $0.02B | 0.0x | 0.0x | 44.9x | |
| $0.01B | 0.0x | 0.0x | 17.6x | |
| $0.29B | 0.0x | 0.0x | 0.0x | |
| $0.01B | 0.0x | 0.0x | 69.8x | |
| $0.02B | 0.0x | 0.0x | 3.0x |