SN
SharkNinja, Inc.
$112.03
Stable Earnings Power
80%
P/Adj-EPS × Normalized Multiple
Mild
·
Conviction
Fair Value
Trading 9.5% below fair value
You pay
$112.03
Bear
$108.36
Fair
$123.84
Bull
$139.32
Bear
$108.36
-3.3%
$5.19 × 20x P/E
Fair
$123.84
+10.5%
$5.19 × 22x P/E
Bull
$139.32
+24.4%
$5.19 × 25x P/E
Key Value Driver
Normalized P/E multiple (22x base case)
Implied Market Multiple
21.6x
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 $154.00 from 9 analysts, using a 20% weight on analyst consensus. That produces an estimated intrinsic value of $123.84 per share.
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