CRMD
CorMedix Inc.
$7.98
Platform & Compounding FCF
85%
Two-stage FCF DCF
Strong
·
Conviction
Undervalued
Trading 88.9% below fair value
You pay
$7.98
Bear
$39.96
Fair
$71.88
Bull
$111.71
Bear
$39.96
+400.7%
12% stage 1 growth, 12% discount
Fair
$71.88
+800.8%
20% stage 1 growth, 12% discount
Bull
$111.71
+1299.9%
26% stage 1 growth, 12% discount
Key Value Driver
FCF growth rate (20% base case)
Terminal Value % of EV
42%
Implied Market Multiple
3.6x
Summary
Our base-case estimate uses a two-stage discounted cash flow model based on free cash flow. We then blend that result with the average analyst price target of $14.00 from 8 analysts, using a 20% weight on analyst consensus. That produces an estimated intrinsic value of $71.88 per share.
Warnings
Wall Street's average price target is $14.00 (from 8 analysts). Our estimate is 517% above the consensus -- consider that gap carefully.
Key Risks
- P/E alone misleads — earnings depressed by growth investment
- Cyclical or commodity businesses may be misclassified as platforms
- Terminal value dominance suggests sensitivity to long-run assumptions