AXIN
Axiom Intelligence Acquisition Corp 1
$10.38
Stable Earnings Power
40%
P/Adj-EPS × Normalized Multiple
Strong
·
Conviction
Overvalued
Trading 130.6% above fair value
You pay
$10.38
Bear
$3.60
Fair
$4.50
Bull
$5.40
Bear
$3.60
-65.3%
$0.20 × 18x P/E
Fair
$4.50
-56.6%
$0.20 × 22x P/E
Bull
$5.40
-48.0%
$0.20 × 27x P/E
Adjust Assumptions
22.5x
0.2$
Key Value Driver
Normalized P/E multiple (22x base case)
Implied Market Multiple
51.9x
Summary
Applying a 22x P/E to adjusted EPS of $0.20, the base-case value is $4.50 per share.
Key Risks
- Growth DCF inappropriate — terminal value assumptions dominate
- EV/EBITDA misleading for regulated businesses where capex is mandated
- Regulatory risk is a fat tail not visible in normal multiples