Complete TLPH Stock Valuation Analysis
Comprehensive intrinsic value analysis using 2 different methodologies
TLPH DCF Analysis
TLPH (Talphera, 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 | $1.8M | $651.0K | $0 | $0 | $0 | $0 | $0 | $0 |
| Revenue Growth % | - | -63.2% | -100.0% | -10.0% | -10.0% | -10.0% | -10.0% | -10.0% |
| EBIT | $-25.3M | $-16.9M | $-15.3M | $0 | $0 | $0 | $0 | $0 |
| EBIT Margin % | -1428.6% | -2594.3% | 0.0% | 5.0% | 5.0% | 5.0% | 5.0% | 5.0% |
| Tax Rate % | 0.0% | 25.0% | 25.0% | 20.0% | 20.5% | 21.0% | 21.5% | 22.0% |
| NOPAT | $-25.3M | $-12.7M | $-11.4M | $0 | $0 | $0 | $0 | $0 |
| NOPAT Margin % | -1428.3% | -1945.7% | -Infinity% | NaN% | NaN% | NaN% | NaN% | NaN% |
| Capex | $364.0K | $100.0K | $0 | $0 | $0 | $0 | $0 | $0 |
| Capex / Revenue % | 20.6% | 15.4% | NaN% | 15.4% | 14.6% | 13.9% | 13.2% | 12.5% |
| Depreciation | $1.6M | $311.0K | $-121.0K | $NaN | $NaN | $NaN | $NaN | $NaN |
| D&A / Revenue % | 93.0% | 47.8% | -Infinity% | NaN% | NaN% | NaN% | NaN% | NaN% |
| Change in NWC | $-21.2M | $-3.8M | $-274.0K | $0 | $0 | $0 | $0 | $0 |
| NWC Change / Revenue % | -1196.2% | -576.3% | -Infinity% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Unlevered FCF | $-2.8M | $-8.7M | $-11.3M | $NaN | $NaN | $NaN | $NaN | $NaN |
| UFCF % Chg. | - | -207.8% | -29.7% | NaN% | NaN% | NaN% | NaN% | NaN% |
| FCF / Revenue % | -159.7% | -1337.0% | -Infinity% | NaN% | NaN% | NaN% | NaN% | NaN% |
| Discount Factor | - | - | - | 0.964 | 0.929 | 0.896 | 0.863 | 0.832 |
| Present Value of FCF | - | - | - | $NaN | $NaN | $NaN | $NaN | $NaN |
| Sum of PV of UFCF | - | - | - | $NaN | $NaN | $NaN | $NaN | $NaN |
WACC Calculation
Weighted Average Cost of Capital used for discounting cash flows.
| WACC Calculation | Value |
|---|---|
| Cost of Debt | 6.9% |
| Tax Rate | 20.0% |
| After Tax Cost of Debt | 5.5% |
| Risk Free Rate | 4.40% |
| Market Risk Premium | 4.3% |
| Beta | -0.15 |
| Cost of Equity | 3.7% |
| Total Debt | $0 |
| Market Cap | $10.0M |
| Total Capital | $10.0M |
| Debt Weighting | 0.0% |
| Equity Weighting | 100.0% |
| WACC | 3.7% |
Terminal Value
Choose between perpetuity growth or exit multiple methods.
| Terminal Value Calculation | Value |
|---|---|
| Terminal Growth Rate | 2.5% |
| Final Year FCF | $NaN |
| Terminal Value | $NaN |
| PV of Terminal Value | $NaN |
| Cumulative PV of UFCF | $NaN |
| Net Debt | $-8.9M |
| Equity Value | $NaN |
| Shares Outstanding | 25.8M |
| Implied Share Price | $NaN |
| Current Share Price | $0 |
| Implied Upside/(Downside) | NaN% |
Valuation Summary
$NaN
Implied Price
$0.49
Current Price
NaN%
Upside/Downside
3.7%
WACC
TLPH 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 Healthcare
P/E Ratio
$-8.41
-1825.6%
Peer Median: 19.0x
EV/EBITDA
$0.00
-100.0%
Peer Median: 1.4x
P/S Ratio
$0.49
+0.0%
Peer Median: 1.5x
Interpretation: Each multiple provides a different perspective on fair value. Consider which multiple is most relevant for TLPH's business model and current situation.
Multiple Comparison
| Multiple | TLPH Current | Peer Median | Peer Average | Premium/Discount | Assessment |
|---|---|---|---|---|---|
| P/E Ratio | -1.1x | 19.0x | 29.5x | -105.8% | Undervalued |
| EV/EBITDA | Infinityx | 1.4x | 15.8x | Infinity% | Overvalued |
| P/S Ratio | 1.5x | 1.5x | 5.5x | 0.0% | Fair Value |
Peer Companies
Click any company to view their valuation
| Company | Market Cap | P/E Ratio | EV/EBITDA | P/S Ratio |
|---|---|---|---|---|
| $0.02B | 0.0x | 0.0x | 0.0x | |
| $0.01B | 7.5x | 1.4x | 0.1x | |
| $0.02B | 0.0x | 0.0x | 0.0x | |
| $0.01B | 0.0x | 0.0x | 0.0x | |
| $0.01B | 0.0x | 0.0x | 1.5x | |
| $0.01B | 19.0x | 0.7x | 470.3x | |
| $725.66B | 62.1x | 45.3x | 14.8x |