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NMS · Valuation Lab
BSP
Bending Spoons S.p.A.
Last$43.75
Market cap27.8B
EV/EBITDA34.8x
Intrinsic value
$9.12
MoS -379.6% · Overvalued
Assuming 15.0% FCF margin and 10.0% Y1–5 growth.
Upside to price
EV (DCF)6.6B
Terminal share62%
Expected IV$10.29
Probability weights
Projected free cash flows
Stage FCF path with present values · terminal 62% of EV
PV of stage FCFs2.5B
PV of terminal value4.1B
Enterprise value6.6B
Net cash / (debt)-3.7B
Equity value3B
Intrinsic value / share$9.12
| Year | Revenue | FCF | PV | DF |
|---|---|---|---|---|
| Y1 | 1.8B | 272M | 251.3M | 92.4% |
| Y2 | 2B | 299.3M | 255.4M | 85.4% |
| Y3 | 2.2B | 329.2M | 259.6M | 78.9% |
| Y4 | 2.4B | 362.1M | 263.8M | 72.9% |
| Y5 | 2.7B | 398.3M | 268.1M | 67.3% |
| Y6 | 2.8B | 418.2M | 260.1M | 62.2% |
| Y7 | 2.9B | 439.1M | 252.3M | 57.4% |
| Y8 | 3.1B | 461.1M | 244.7M | 53.1% |
| Y9 | 3.2B | 484.1M | 237.4M | 49.0% |
| Y10 | 3.4B | 508.4M | 230.3M | 45.3% |
| Terminal | — | — | 4.1B | — |
Educational DCF model only — not financial advice. Terminal value and assumptions dominate results; verify filings and run your own diligence.