Complete VYNE Stock Valuation Analysis
Comprehensive intrinsic value analysis using 2 different methodologies
VYNE DCF Analysis
VYNE (VYNE Therapeutics 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 | $477.0K | $424.0K | $501.0K | $450.9K | $405.8K | $365.2K | $328.7K | $295.8K |
| Revenue Growth % | - | -11.1% | 18.2% | -10.0% | -10.0% | -10.0% | -10.0% | -10.0% |
| EBIT | $-34.3M | $-29.3M | $-43.6M | $22.5K | $20.3K | $18.3K | $16.4K | $14.8K |
| EBIT Margin % | -7189.7% | -6900.5% | -8710.0% | 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 | $-25.7M | $-21.9M | $-32.7M | $16.9K | $15.2K | $13.7K | $12.3K | $11.1K |
| NOPAT Margin % | -5392.3% | -5175.4% | -6532.5% | 3.8% | 3.8% | 3.8% | 3.8% | 3.8% |
| Capex | $0 | $0 | $117.0K | $4.5K | $4.1K | $3.7K | $3.3K | $3.0K |
| Capex / Revenue % | 0.0% | 0.0% | 23.4% | 1.0% | 1.0% | 1.0% | 1.0% | 1.0% |
| Depreciation | $72.0K | $0 | $4.0K | $23.9K | $21.5K | $19.3K | $17.4K | $15.7K |
| D&A / Revenue % | 15.1% | 0.0% | 0.8% | 5.3% | 5.3% | 5.3% | 5.3% | 5.3% |
| Change in NWC | $-15.8M | $59.5M | $-38.8M | $0 | $0 | $0 | $0 | $0 |
| NWC Change / Revenue % | -3322.0% | 14031.8% | -7745.9% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Unlevered FCF | $-9.8M | $-81.4M | $6.0M | $36.3K | $32.7K | $29.4K | $26.5K | $23.8K |
| UFCF % Chg. | - | -730.7% | 107.3% | -99.4% | -10.0% | -10.0% | -10.0% | -10.0% |
| FCF / Revenue % | -2055.2% | -19207.2% | 1190.9% | 8.0% | 8.0% | 8.0% | 8.0% | 8.0% |
| Discount Factor | - | - | - | 0.892 | 0.796 | 0.710 | 0.634 | 0.565 |
| Present Value of FCF | - | - | - | $32.4K | $26.0K | $20.9K | $16.8K | $13.5K |
| Sum of PV of UFCF | - | - | - | $32.4K | $58.4K | $79.2K | $96.0K | $109.5K |
WACC Calculation
Weighted Average Cost of Capital used for discounting cash flows.
| WACC Calculation | Value |
|---|---|
| Cost of Debt | 7.0% |
| Tax Rate | 25.0% |
| After Tax Cost of Debt | 5.2% |
| Risk Free Rate | 4.46% |
| Market Risk Premium | 4.3% |
| Beta | 1.77 |
| Cost of Equity | 12.1% |
| Total Debt | $99.0K |
| Market Cap | $16.5M |
| Total Capital | $16.6M |
| Debt Weighting | 0.6% |
| Equity Weighting | 99.4% |
| WACC | 12.1% |
Terminal Value
Choose between perpetuity growth or exit multiple methods.
| Terminal Value Calculation | Value |
|---|---|
| Terminal Growth Rate | 2.5% |
| Final Year FCF | $23.8K |
| Terminal Value | $254.6K |
| PV of Terminal Value | $144.0K |
| Cumulative PV of UFCF | $109.5K |
| Net Debt | $-19.8M |
| Equity Value | $20.1M |
| Shares Outstanding | 42.6M |
| Implied Share Price | $0 |
| Current Share Price | $1 |
| Implied Upside/(Downside) | -52.5% |
Valuation Summary
$0.47
Implied Price
$0.99
Current Price
-52.5%
Upside/Downside
12.1%
WACC
VYNE Peer Valuation Analysis
Relative valuation based on comparable company trading multiples
Peer Valuation Analysis
Fair Value Range Analysis
Based on median multiples from 9 peer companies in Healthcare
P/E Ratio
$-60.42
-6191.8%
Peer Median: 61.1x
EV/EBITDA
$0.00
-100.0%
Peer Median: 44.7x
P/S Ratio
$0.31
-68.3%
Peer Median: 8.7x
Interpretation: Each multiple provides a different perspective on fair value. Consider which multiple is most relevant for VYNE's business model and current situation.
Multiple Comparison
| Multiple | VYNE Current | Peer Median | Peer Average | Premium/Discount | Assessment |
|---|---|---|---|---|---|
| P/E Ratio | -1.0x | 61.1x | 31.0x | -101.6% | Undervalued |
| EV/EBITDA | -Infinityx | 44.7x | 23.6x | -Infinity% | Undervalued |
| P/S Ratio | 27.3x | 8.7x | 7.6x | 215.0% | Overvalued |
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 | 733.2x | |
| $0.02B | 0.0x | 0.0x | 4.8x | |
| $0.01B | 0.0x | 0.0x | 8.7x | |
| $0.02B | 0.0x | 0.0x | 27.3x | |
| $0.02B | 0.0x | 0.0x | 0.0x | |
| $0.02B | 0.0x | 0.0x | 0.0x | |
| $0.02B | 0.0x | 0.0x | 33.7x | |
| $0.02B | 0.8x | 2.6x | 2.4x | |
| $714.38B | 61.1x | 44.7x | 14.6x |