Complete MULN Stock Valuation Analysis
Comprehensive intrinsic value analysis using 2 different methodologies
MULN DCF Analysis
MULN (Mullen Automotive, 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 | $0 | $366.0K | $1.1M | $1.4M | $1.7M | $2.1M | $2.7M | $3.3M |
| Revenue Growth % | - | Infinity% | 199.0% | 25.0% | 25.0% | 25.0% | 25.0% | 25.0% |
| EBIT | $-97.0M | $-377.8M | $-391.8M | $68.4K | $85.5K | $106.9K | $133.6K | $167.0K |
| EBIT Margin % | 0.0% | -103216.5% | -35805.4% | 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 | $-72.7M | $-283.3M | $-293.9M | $51.3K | $64.1K | $80.2K | $100.2K | $125.2K |
| NOPAT Margin % | -Infinity% | -77412.4% | -26854.1% | 3.8% | 3.8% | 3.8% | 3.8% | 3.8% |
| Capex | $12.0M | $107.9M | $14.7M | $13.7K | $17.1K | $21.4K | $26.7K | $33.4K |
| Capex / Revenue % | Infinity% | 29487.2% | 1347.7% | 1.0% | 1.0% | 1.0% | 1.0% | 1.0% |
| Depreciation | $3.3M | $16.4M | $22.0M | $InfinityB | $InfinityB | $InfinityB | $InfinityB | $InfinityB |
| D&A / Revenue % | Infinity% | 4477.7% | 2008.9% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% |
| Change in NWC | $28.5M | $94.4M | $-178.5M | $0 | $0 | $0 | $0 | $0 |
| NWC Change / Revenue % | Infinity% | 25796.9% | -16313.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Unlevered FCF | $-109.9M | $-469.3M | $-108.1M | $InfinityB | $InfinityB | $InfinityB | $InfinityB | $InfinityB |
| UFCF % Chg. | - | -326.9% | 77.0% | Infinity% | NaN% | NaN% | NaN% | NaN% |
| FCF / Revenue % | -Infinity% | -128218.9% | -9879.8% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% |
| Discount Factor | - | - | - | 1.003 | 1.006 | 1.009 | 1.011 | 1.014 |
| 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 | 7.5% |
| Tax Rate | 25.0% |
| After Tax Cost of Debt | 5.6% |
| Risk Free Rate | 4.46% |
| Market Risk Premium | 4.3% |
| Beta | -8.61 |
| Cost of Equity | -32.8% |
| Total Debt | $19.9M |
| Market Cap | $3.6M |
| Total Capital | $23.5M |
| Debt Weighting | 84.7% |
| Equity Weighting | 15.3% |
| WACC | -0.3% |
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 | $9.6M |
| Equity Value | $NaN |
| Shares Outstanding | 0.0M |
| Implied Share Price | $NaN |
| Current Share Price | $6 |
| Implied Upside/(Downside) | NaN% |
Valuation Summary
$NaN
Implied Price
$5.50
Current Price
NaN%
Upside/Downside
-0.3%
WACC
MULN Peer Valuation Analysis
Relative valuation based on comparable company trading multiples
Peer Valuation Analysis
Fair Value Range Analysis
Based on median multiples from 7 peer companies in Consumer Cyclical
P/E Ratio
$-2972541.66
-54045329.4%
Peer Median: 16.9x
EV/EBITDA
$0.00
-100.0%
Peer Median: 13.9x
P/S Ratio
$5.50
+0.0%
Peer Median: 0.9x
Interpretation: Each multiple provides a different perspective on fair value. Consider which multiple is most relevant for MULN's business model and current situation.
Multiple Comparison
| Multiple | MULN Current | Peer Median | Peer Average | Premium/Discount | Assessment |
|---|---|---|---|---|---|
| P/E Ratio | -0.0x | 16.9x | 16.9x | -100.0% | Undervalued |
| EV/EBITDA | Infinityx | 13.9x | 13.9x | Infinity% | Overvalued |
| P/S Ratio | 0.9x | 0.9x | 2.6x | 0.0% | Fair Value |
Peer Companies
Click any company to view their valuation
| Company | Market Cap | P/E Ratio | EV/EBITDA | P/S Ratio |
|---|---|---|---|---|
| $0.01B | 0.0x | 13.9x | 0.5x | |
| $0.01B | 0.0x | 0.0x | 0.5x | |
| $0.01B | 0.0x | 0.0x | 1.4x | |
| $0.00B | 0.0x | 0.0x | 0.9x | |
| $0.00B | 0.0x | 0.0x | 2.6x | |
| $0.00B | 16.9x | 0.0x | 0.7x | |
| $1119.54B | 191.2x | 80.0x | 11.7x |