Complete SONM Stock Valuation Analysis
Comprehensive intrinsic value analysis using 2 different methodologies
SONM DCF Analysis
SONM (Sonim Technologies, 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 | $69.8M | $93.6M | $58.3M | $57.9M | $57.5M | $57.1M | $56.8M | $56.5M |
| Revenue Growth % | - | 34.1% | -37.7% | -0.7% | -0.7% | -0.6% | -0.5% | -0.5% |
| EBIT | $-14.3M | $513.0K | $-33.6M | $2.9M | $2.9M | $2.9M | $2.8M | $2.8M |
| EBIT Margin % | -20.5% | 0.5% | -57.7% | 5.0% | 5.0% | 5.0% | 5.0% | 5.0% |
| Tax Rate % | 25.0% | 50.0% | 25.0% | 30.0% | 29.5% | 29.0% | 28.5% | 28.0% |
| NOPAT | $-10.7M | $256.5K | $-25.2M | $2.0M | $2.0M | $2.0M | $2.0M | $2.0M |
| NOPAT Margin % | -15.3% | 0.3% | -43.3% | 3.5% | 3.5% | 3.5% | 3.6% | 3.6% |
| Capex | $8.0K | $36.0K | $214.0K | $578.6K | $574.7K | $571.2K | $568.1K | $565.3K |
| Capex / Revenue % | 0.0% | 0.0% | 0.4% | 1.0% | 1.0% | 1.0% | 1.0% | 1.0% |
| Depreciation | $2.4M | $2.2M | $3.5M | $2.3M | $2.3M | $2.3M | $2.2M | $2.2M |
| D&A / Revenue % | 3.4% | 2.4% | 6.1% | 3.9% | 3.9% | 3.9% | 3.9% | 3.9% |
| Change in NWC | $-3.1M | $70.0K | $-23.2M | $-850.7K | $-676.0K | $-537.5K | $-427.6K | $-340.4K |
| NWC Change / Revenue % | -4.5% | 0.1% | -39.8% | -1.5% | -1.2% | -0.9% | -0.8% | -0.6% |
| Unlevered FCF | $-5.2M | $2.4M | $1.3M | $4.6M | $4.4M | $4.2M | $4.1M | $4.0M |
| UFCF % Chg. | - | 145.2% | -44.2% | 248.1% | -4.0% | -3.3% | -2.7% | -2.2% |
| FCF / Revenue % | -7.5% | 2.5% | 2.3% | 7.9% | 7.6% | 7.4% | 7.3% | 7.1% |
| Discount Factor | - | - | - | 0.891 | 0.794 | 0.707 | 0.630 | 0.562 |
| Present Value of FCF | - | - | - | $4.1M | $3.5M | $3.0M | $2.6M | $2.3M |
| Sum of PV of UFCF | - | - | - | $4.1M | $7.6M | $10.6M | $13.2M | $15.4M |
WACC Calculation
Weighted Average Cost of Capital used for discounting cash flows.
| WACC Calculation | Value |
|---|---|
| Cost of Debt | 6.9% |
| Tax Rate | 30.0% |
| After Tax Cost of Debt | 4.8% |
| Risk Free Rate | 4.40% |
| Market Risk Premium | 4.3% |
| Beta | 1.81 |
| Cost of Equity | 12.2% |
| Total Debt | $0 |
| Market Cap | $9.3M |
| Total Capital | $9.3M |
| Debt Weighting | 0.0% |
| Equity Weighting | 100.0% |
| WACC | 12.2% |
Terminal Value
Choose between perpetuity growth or exit multiple methods.
| Terminal Value Calculation | Value |
|---|---|
| Terminal Growth Rate | 2.5% |
| Final Year FCF | $4.0M |
| Terminal Value | $42.6M |
| PV of Terminal Value | $23.9M |
| Cumulative PV of UFCF | $15.4M |
| Net Debt | $-5.3M |
| Equity Value | $44.7M |
| Shares Outstanding | 4.7M |
| Implied Share Price | $9 |
| Current Share Price | $1 |
| Implied Upside/(Downside) | +838.1% |
Valuation Summary
$9.48
Implied Price
$1.01
Current Price
+838.1%
Upside/Downside
12.2%
WACC
SONM 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 Technology
P/E Ratio
$-162.25
-16164.1%
Peer Median: 31.4x
EV/EBITDA
$0.00
-100.0%
Peer Median: 22.4x
P/S Ratio
$3.91
+287.3%
Peer Median: 0.6x
Interpretation: Each multiple provides a different perspective on fair value. Consider which multiple is most relevant for SONM's business model and current situation.
Multiple Comparison
| Multiple | SONM Current | Peer Median | Peer Average | Premium/Discount | Assessment |
|---|---|---|---|---|---|
| P/E Ratio | -0.2x | 31.4x | 31.4x | -100.6% | Undervalued |
| EV/EBITDA | Infinityx | 22.4x | 22.4x | Infinity% | Overvalued |
| P/S Ratio | 0.2x | 0.6x | 2.0x | -74.2% | Undervalued |
Peer Companies
Click any company to view their valuation
| Company | Market Cap | P/E Ratio | EV/EBITDA | P/S Ratio |
|---|---|---|---|---|
| $0.04B | 0.0x | 0.0x | 0.8x | |
| $0.03B | 0.0x | 101.7x | 0.6x | |
| $0.01B | 0.0x | 0.0x | 0.5x | |
| $0.01B | 0.0x | 0.0x | 0.2x | |
| $0.00B | 0.0x | 0.0x | 4.4x | |
| $0.00B | 0.0x | 0.0x | 0.0x | |
| $3034.51B | 31.4x | 22.4x | 7.6x |