RSI
Rush Street Interactive, Inc.
$31.29
Stable Earnings Power
65%
P/Adj-EPS × Normalized Multiple
Strong
·
Conviction
Overvalued
Trading 217.1% above fair value
You pay
$31.29
Bear
$7.89
Fair
$9.87
Bull
$11.84
Bear
$7.89
-74.8%
$0.20 × 18x P/E
Fair
$9.87
-68.5%
$0.20 × 22x P/E
Bull
$11.84
-62.1%
$0.20 × 27x P/E
Key Value Driver
Normalized P/E multiple (22x base case)
Implied Market Multiple
155.2x
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 $31.17 from 13 analysts, using a 20% weight on analyst consensus. That produces an estimated intrinsic value of $9.87 per share.
Warnings
The company's reported profits differ from official accounting profits by 44%. Check what costs are being left out of the adjusted number.
Wall Street's average price target is $31.17 (from 13 analysts). Our estimate is 85% below 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