IMXI
International Money Express, Inc.
$14.50
Platform & Compounding FCF
50%
Two-stage FCF DCF
Strong
·
Conviction
Overvalued
Trading 49.7% above fair value
You pay
$14.50
Bear
$6.13
Fair
$9.69
Bull
$13.30
Bear
$6.13
-57.7%
7% stage 1 growth, 11% discount
Fair
$9.69
-33.2%
11% stage 1 growth, 11% discount
Bull
$13.30
-8.3%
15% stage 1 growth, 11% discount
Key Value Driver
FCF growth rate (11% base case)
Terminal Value % of EV
40%
Implied Market Multiple
54.7x
Market is pricing in (growth)
22.4%
vs 11.2% base
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 $27.00 from 13 analysts, using a 20% weight on analyst consensus. That produces an estimated intrinsic value of $9.69 per share.
Warnings
Wall Street's average price target is $27.00 (from 13 analysts). Our estimate is 80% 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