IMXI
International Money Express, Inc.
$10.30
Platform & Compounding FCF
50%
Two-stage FCF DCF
Mild
·
Conviction
Fair Value
Trading 12.4% below fair value
You pay
$10.30
Bear
$7.97
Fair
$11.76
Bull
$15.59
Bear
$7.97
-22.6%
7% stage 1 growth, 11% discount
Fair
$11.76
+14.1%
11% stage 1 growth, 11% discount
Bull
$15.59
+51.4%
15% stage 1 growth, 11% discount
Adjust Assumptions
11.2%
11.0%
3.0%
Key Value Driver
FCF growth rate (11% base case)
Terminal Value % of EV
40%
Implied Market Multiple
21.0x
Market is pricing in (growth)
9.7%
vs 11.2% base
Analyst Consensus (External Reference)
Never blended into the bear/base/bull estimates above.
Average Target (13 analysts)
$27.00
Divergence from AlphaVal
56%
Summary
Using a two-stage FCF DCF with 11% growth decelerating over 15 years, discounted at 11%, the base-case intrinsic value is $11.76 per share.
Warnings
Wall Street's average price target is $27.00 (from 13 analysts). Our estimate is 56% below 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