Complete TSBX Stock Valuation Analysis
Comprehensive intrinsic value analysis using 2 different methodologies
TSBX DCF Analysis
TSBX (Turnstone Biologics Corp.) 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 | $73.3M | $19.3M | $0 | $0 | $0 | $0 | $0 | $0 |
| Revenue Growth % | - | -73.7% | -100.0% | -10.0% | -10.0% | -10.0% | -10.0% | -10.0% |
| EBIT | $-31.6M | $-59.0M | $-72.5M | $0 | $0 | $0 | $0 | $0 |
| EBIT Margin % | -43.1% | -305.8% | 0.0% | 5.0% | 5.0% | 5.0% | 5.0% | 5.0% |
| Tax Rate % | 25.0% | 25.0% | 25.0% | 19.1% | 19.7% | 20.3% | 20.8% | 21.4% |
| NOPAT | $-23.7M | $-44.3M | $-54.4M | $0 | $0 | $0 | $0 | $0 |
| NOPAT Margin % | -32.4% | -229.3% | -Infinity% | NaN% | NaN% | NaN% | NaN% | NaN% |
| Capex | $5.2M | $1.2M | $229.0K | $0 | $0 | $0 | $0 | $0 |
| Capex / Revenue % | 7.1% | 6.5% | Infinity% | 5.6% | 5.3% | 5.1% | 4.8% | 4.6% |
| Depreciation | $3.9M | $2.8M | $1.8M | $NaN | $NaN | $NaN | $NaN | $NaN |
| D&A / Revenue % | 5.3% | 14.5% | Infinity% | NaN% | NaN% | NaN% | NaN% | NaN% |
| Change in NWC | $-59.2M | $27.4M | $-64.6M | $0 | $0 | $0 | $0 | $0 |
| NWC Change / Revenue % | -80.8% | 142.0% | -Infinity% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Unlevered FCF | $34.2M | $-70.1M | $11.8M | $NaN | $NaN | $NaN | $NaN | $NaN |
| UFCF % Chg. | - | -305.0% | 116.8% | NaN% | NaN% | NaN% | NaN% | NaN% |
| FCF / Revenue % | 46.7% | -363.3% | Infinity% | NaN% | NaN% | NaN% | NaN% | NaN% |
| Discount Factor | - | - | - | 0.918 | 0.843 | 0.774 | 0.710 | 0.652 |
| 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 | 6.8% |
| Tax Rate | 19.1% |
| After Tax Cost of Debt | 5.5% |
| Risk Free Rate | 4.29% |
| Market Risk Premium | 4.3% |
| Beta | 1.19 |
| Cost of Equity | 9.5% |
| Total Debt | $1.2M |
| Market Cap | $7.9M |
| Total Capital | $9.1M |
| Debt Weighting | 13.1% |
| Equity Weighting | 86.9% |
| WACC | 8.9% |
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 | $-27.7M |
| Equity Value | $NaN |
| Shares Outstanding | 23.0M |
| Implied Share Price | $NaN |
| Current Share Price | $0 |
| Implied Upside/(Downside) | NaN% |
Valuation Summary
$NaN
Implied Price
$0.34
Current Price
NaN%
Upside/Downside
8.9%
WACC
TSBX Peer Valuation Analysis
Relative valuation based on comparable company trading multiples
Peer Valuation Analysis
Fair Value Range Analysis
Based on median multiples from 8 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
$1.41
+315.1%
Peer Median: 1.1x
Interpretation: Each multiple provides a different perspective on fair value. Consider which multiple is most relevant for TSBX's business model and current situation.
Multiple Comparison
| Multiple | TSBX Current | Peer Median | Peer Average | Premium/Discount | Assessment |
|---|---|---|---|---|---|
| P/E Ratio | -0.1x | 0.0x | 0.0x | -Infinity% | Undervalued |
| EV/EBITDA | -Infinityx | 0.0x | 0.0x | -Infinity% | Undervalued |
| P/S Ratio | 0.3x | 1.1x | 2.1x | -75.9% | Undervalued |
Peer Companies
Click any company to view their valuation
| Company | Market Cap | P/E Ratio | EV/EBITDA | P/S Ratio |
|---|---|---|---|---|
| $0.01B | 0.0x | 0.0x | 6.1x | |
| $0.01B | 0.0x | 0.0x | 0.0x | |
| $0.02B | 0.0x | 0.0x | 1.0x | |
| $0.01B | 0.0x | 0.0x | 0.0x | |
| $0.01B | 0.0x | 0.0x | 0.3x | |
| $0.01B | 0.0x | 0.0x | 1.1x | |
| $0.01B | 0.0x | 0.0x | 687.5x | |
| $0.01B | 0.0x | 0.0x | 0.0x |