Complete SLAB Stock Valuation Analysis
Comprehensive intrinsic value analysis using 2 different methodologies
SLAB DCF Analysis
SLAB (Silicon Laboratories 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 | $1.0B | $782.3M | $584.4M | $525.9M | $475.5M | $434.4M | $400.7M | $372.7M |
| Revenue Growth % | - | -23.6% | -25.3% | -10.0% | -9.6% | -8.6% | -7.8% | -7.0% |
| EBIT | $119.3M | $-24.2M | $-165.5M | $26.3M | $23.8M | $21.7M | $20.0M | $18.6M |
| EBIT Margin % | 11.6% | -3.1% | -28.3% | 5.0% | 5.0% | 5.0% | 5.0% | 5.0% |
| Tax Rate % | 30.4% | 25.0% | 25.0% | 24.7% | 24.7% | 24.8% | 24.8% | 24.8% |
| NOPAT | $83.0M | $-18.1M | $-124.1M | $19.8M | $17.9M | $16.3M | $15.1M | $14.0M |
| NOPAT Margin % | 8.1% | -2.3% | -21.2% | 3.8% | 3.8% | 3.8% | 3.8% | 3.8% |
| Capex | $26.5M | $22.3M | $11.7M | $14.4M | $12.4M | $10.8M | $9.4M | $8.3M |
| Capex / Revenue % | 2.6% | 2.8% | 2.0% | 2.7% | 2.6% | 2.5% | 2.4% | 2.2% |
| Depreciation | $56.6M | $51.1M | $48.6M | $35.7M | $32.3M | $29.5M | $27.2M | $25.3M |
| D&A / Revenue % | 5.5% | 6.5% | 8.3% | 6.8% | 6.8% | 6.8% | 6.8% | 6.8% |
| Change in NWC | $-294.2M | $-701.2M | $-70.2M | $0 | $0 | $0 | $0 | $0 |
| NWC Change / Revenue % | -28.7% | -89.6% | -12.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Unlevered FCF | $407.2M | $711.9M | $-17.1M | $41.1M | $37.8M | $35.1M | $32.8M | $31.0M |
| UFCF % Chg. | - | 74.8% | -102.4% | 340.7% | -8.0% | -7.2% | -6.4% | -5.7% |
| FCF / Revenue % | 39.8% | 91.0% | -2.9% | 7.8% | 7.9% | 8.1% | 8.2% | 8.3% |
| Discount Factor | - | - | - | 0.904 | 0.818 | 0.739 | 0.668 | 0.604 |
| Present Value of FCF | - | - | - | $37.1M | $30.9M | $25.9M | $22.0M | $18.7M |
| Sum of PV of UFCF | - | - | - | $37.1M | $68.0M | $94.0M | $115.9M | $134.7M |
WACC Calculation
Weighted Average Cost of Capital used for discounting cash flows.
| WACC Calculation | Value |
|---|---|
| Cost of Debt | 6.0% |
| Tax Rate | 24.7% |
| After Tax Cost of Debt | 4.5% |
| Risk Free Rate | 4.46% |
| Market Risk Premium | 4.3% |
| Beta | 1.42 |
| Cost of Equity | 10.6% |
| Total Debt | $15.5M |
| Market Cap | $4.1B |
| Total Capital | $4.1B |
| Debt Weighting | 0.4% |
| Equity Weighting | 99.6% |
| WACC | 10.6% |
Terminal Value
Choose between perpetuity growth or exit multiple methods.
| Terminal Value Calculation | Value |
|---|---|
| Terminal Growth Rate | 2.5% |
| Final Year FCF | $31.0M |
| Terminal Value | $392.4M |
| PV of Terminal Value | $237.2M |
| Cumulative PV of UFCF | $134.7M |
| Net Debt | $-266.1M |
| Equity Value | $637.9M |
| Shares Outstanding | 32.2M |
| Implied Share Price | $20 |
| Current Share Price | $125 |
| Implied Upside/(Downside) | -84.1% |
Valuation Summary
$19.82
Implied Price
$124.72
Current Price
-84.1%
Upside/Downside
10.6%
WACC
SLAB Peer Valuation Analysis
Relative valuation based on comparable company trading multiples
Peer Valuation Analysis
Fair Value Range Analysis
Based on median multiples from 11 peer companies in Technology
P/E Ratio
$-243.54
-295.3%
Peer Median: 47.9x
EV/EBITDA
$11.27
-91.0%
Peer Median: 30.7x
P/S Ratio
$137.89
+10.6%
Peer Median: 6.8x
Interpretation: Each multiple provides a different perspective on fair value. Consider which multiple is most relevant for SLAB's business model and current situation.
Multiple Comparison
| Multiple | SLAB Current | Peer Median | Peer Average | Premium/Discount | Assessment |
|---|---|---|---|---|---|
| P/E Ratio | -24.5x | 47.9x | 47.0x | -151.2% | Undervalued |
| EV/EBITDA | 317.0x | 30.7x | 26.8x | 934.4% | Overvalued |
| P/S Ratio | 6.2x | 6.8x | 6.7x | -9.6% | Fair Value |
Peer Companies
Click any company to view their valuation
| Company | Market Cap | P/E Ratio | EV/EBITDA | P/S Ratio |
|---|---|---|---|---|
| $6.04B | 29.5x | 22.0x | 10.0x | |
| $5.15B | 16.4x | 10.2x | 2.7x | |
| $4.97B | 62.8x | 31.1x | 6.8x | |
| $4.86B | 0.0x | 0.0x | 21.1x | |
| $3.53B | 844.7x | 0.0x | 383.7x | |
| $4.06B | 0.0x | 318.8x | 6.2x | |
| $3.47B | 363.2x | 255.6x | 9.5x | |
| $3.30B | 276.1x | 30.7x | 3.6x | |
| $2.87B | 78.5x | 63.7x | 6.6x | |
| $2.27B | 0.0x | 0.0x | 8.0x | |
| $3450.04B | 47.9x | 40.1x | 26.4x |