MRVI
Maravai LifeSciences Holdings, Inc.
$7.24
Stable Earnings Power
40%
P/Adj-EPS × Normalized Multiple
Strong
·
Conviction
Undervalued
Trading 67.2% below fair value
You pay
$7.24
Bear
$18.92
Fair
$22.07
Bull
$25.22
Bear
$18.92
+161.3%
$1.86 × 12x P/E
Fair
$22.07
+204.9%
$1.86 × 14x P/E
Bull
$25.22
+248.3%
$1.86 × 16x P/E
Key Value Driver
Normalized P/E multiple (14x base case)
Implied Market Multiple
3.9x
Summary
Our base-case estimate uses a valuation based on adjusted earnings per share and a normalized price-to-earnings multiple. We then blend that result with the average analyst price target of $6.00 from 14 analysts, using a 20% weight on analyst consensus. That produces an estimated intrinsic value of $22.07 per share.
Warnings
Wall Street's average price target is $6.00 (from 14 analysts). Our estimate is 335% above the consensus -- consider that gap carefully.
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