REalloys Inc.

ALOY

Basic MaterialsOther Precious MetalsNASDAQ

$9.89

Market Cap: $591.73M

REalloys Inc. (ALOY) Valuation Summary

Updated May 11, 2026 06:52

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	$284.81 – $1,087.67	$539.16	+5351.6%
Revenue DCF 10Y	$0.12 – $240.07	$75.52	+663.6%
▸ Trading Multiples
EV/Revenue	$2.67 – $10.57	$4.06	-58.9%

Valuation History

DCF Analysis

REalloys Inc. (ALOY) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$75.52

Market Price

$9.89

Upside / Downside

+663.6%

Verdict

Undervalued

Using a Revenue DCF model with operating margin convergence from -165.7% to a target of 13.1% over 5 years, discounted at a WACC of 8.8%, REalloys Inc. (ALOY) has an intrinsic value of $75.52 per share (range: $0.12 – $240.07).

Key Assumptions

Current Operating Margin

-165.7%

Target Operating Margin

13.1%

WACC

8.8%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

0.5%

Target CapEx/Rev

6.0%

D&A/Revenue

0.6%

Tax Rate

21.0%

Operating margin fades linearly from the current level to the industry target over the 5-year projection. CapEx intensity fades from the historical average to a maintenance level (D&A × 1.5). Tax is only applied when operating income is positive (NOL shield).

Margin Convergence Projection

USD in millions. Mid-year discounting convention.

Year	Revenue	Growth	Op Margin	Op Income	NOPAT	D&A	CapEx	ΔNWC	FCFF	PV(FCFF)
2026	6	138.6%	-129.9%	-8	-8	0	(0)	0	-8	-7
2027	40	589.7%	-94.2%	-38	-38	0	(1)	-8	-30	-27
2028	87	116.8%	-58.4%	-51	-51	1	(2)	-11	-41	-34
2029	166	91.3%	-22.6%	-38	-38	1	(4)	-18	-23	-17
2030	741	346.9%	13.1%	97	77	4	(24)	-130	187	128
2031	667	-10.0%	13.1%	87	69	4	(25)	17	31	20
2032	601	-10.0%	13.1%	79	62	4	(26)	15	25	14
2033	540	-10.0%	13.1%	71	56	3	(26)	14	19	10
2034	506	-6.4%	13.1%	66	52	3	(28)	8	20	10
2035	497	-1.7%	13.1%	65	51	3	(30)	2	23	10

Enterprise Value Bridge

Sum of PV(FCFF)107

Terminal Value (Gordon Growth at 3.0%)403

PV of Terminal Value181

Enterprise Value288

(–) Net Debt1

Equity Value287

(÷) Shares Outstanding4

Fair Value per Share$75.52

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.1%	10.1%	13.1%	16.1%	19.1%
6.8%	$1	$58	$119	$179	$240
7.8%	$1	$45	$93	$140	$187
8.8%	$0	$37	$76	$114	$153
9.8%	$-0	$31	$63	$96	$128
10.8%	$-1	$26	$54	$82	$110

Current price: $9.89. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at -22.6% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

REalloys Inc. (ALOY) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$539.16

Market Price

$9.89

Upside / Downside

+5351.6%

Verdict

Undervalued

Key Assumptions

Current Operating Margin

-165.7%

Target Operating Margin

13.1%

WACC

8.8%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

0.5%

Target CapEx/Rev

6.0%

D&A/Revenue

0.6%

Tax Rate

21.0%

Margin Convergence Projection

USD in millions. Mid-year discounting convention.

Year	Revenue	Growth	Op Margin	Op Income	NOPAT	D&A	CapEx	ΔNWC	FCFF	PV(FCFF)
2026	6	138.6%	-129.9%	-8	-8	0	(0)	0	-8	-7
2027	40	589.7%	-94.2%	-38	-38	0	(1)	-8	-31	-27
2028	87	116.8%	-58.4%	-51	-51	1	(3)	-11	-43	-35
2029	166	91.3%	-22.6%	-38	-38	1	(8)	-18	-27	-20
2030	741	346.9%	13.1%	97	77	4	(44)	-130	167	114

Enterprise Value Bridge

Sum of PV(FCFF)25

Terminal Value (Gordon Growth at 3.0%)2,957

PV of Terminal Value2,023

Enterprise Value2,048

(–) Net Debt1

Equity Value2,047

(÷) Shares Outstanding4

Fair Value per Share$539.16

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.1%	10.1%	13.1%	16.1%	19.1%
6.8%	$696	$794	$892	$990	$1088
7.8%	$528	$603	$678	$754	$829
8.8%	$418	$479	$539	$600	$660
9.8%	$341	$392	$442	$492	$542
10.8%	$285	$327	$370	$413	$455

Current price: $9.89. Green = undervalued, Red = overvalued.

Working Capital Assumption

Trading Multiples

Fair Value

$4.06

Market Price

$9.89

Upside / Downside

-58.9%

Verdict

Overvalued

Using the industry peer median EV/Revenue multiple (trailing + forward), REalloys Inc. (ALOY) has a fair value of $4.06 based on 7 comparable companies in the Other Precious Metals industry.

EV/Revenue Valuation — Other Precious Metals

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
REalloys Inc.ALOY	38	15.8x	11.6x
Compañía de Minas Buenaventura S.A.A.BVN	8,989	5.3x	7.1x
Elevra Lithium LimitedELVR	7,379	50.8x	—
Aura MineralsAUGO	6,880	7.6x	4.0x
Triple Flag Precious Metals Corp.TFPM	6,694	16.9x	12.5x
Aris Mining CorporationARIS	4,064	4.5x	2.7x
Fortuna Mining Corp.FSM	3,277	3.1x	2.9x
Endeavour Silver Corp.EXK	2,966	6.4x	6.3x
Industry Median		6.4x	5.2x
(*) Revenue		2	3
= Enterprise Value		16	17
(-) Net Debt		1	1
Equity Value		15	16
(/) Outstanding shares		4	4
Fair Price		$4	$4

Selected Fair Value (avg of trailing + forward)

$4.06

-58.9%

Disclaimer: Sweet Value Lab provides estimated intrinsic values for informational purposes only. This is not financial advice. All models rely on assumptions that may not reflect future performance. Always do your own research before making investment decisions.

Model

Range

Fair Value

Upside

▸ Discounted Cash Flow

Revenue DCF 5Y

$284.81 – $1,087.67

$539.16

+5351.6%

Revenue DCF 10Y

$0.12 – $240.07

$75.52

+663.6%

▸ Trading Multiples

EV/Revenue

$2.67 – $10.57

$4.06

-58.9%

DCF Analysis

REalloys Inc. (ALOY) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$75.52

Market Price

$9.89

Upside / Downside

+663.6%

Verdict

Undervalued

Key Assumptions

Current Operating Margin

-165.7%

Target Operating Margin

13.1%

WACC

8.8%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

0.5%

Target CapEx/Rev

6.0%

D&A/Revenue

0.6%

Tax Rate

21.0%

Margin Convergence Projection

USD in millions. Mid-year discounting convention.

Year	Revenue	Growth	Op Margin	Op Income	NOPAT	D&A	CapEx	ΔNWC	FCFF	PV(FCFF)
2026	6	138.6%	-129.9%	-8	-8	0	(0)	0	-8	-7
2027	40	589.7%	-94.2%	-38	-38	0	(1)	-8	-30	-27
2028	87	116.8%	-58.4%	-51	-51	1	(2)	-11	-41	-34
2029	166	91.3%	-22.6%	-38	-38	1	(4)	-18	-23	-17
2030	741	346.9%	13.1%	97	77	4	(24)	-130	187	128
2031	667	-10.0%	13.1%	87	69	4	(25)	17	31	20
2032	601	-10.0%	13.1%	79	62	4	(26)	15	25	14
2033	540	-10.0%	13.1%	71	56	3	(26)	14	19	10
2034	506	-6.4%	13.1%	66	52	3	(28)	8	20	10
2035	497	-1.7%	13.1%	65	51	3	(30)	2	23	10

Enterprise Value Bridge

Sum of PV(FCFF)107

Terminal Value (Gordon Growth at 3.0%)403

PV of Terminal Value181

Enterprise Value288

(–) Net Debt1

Equity Value287

(÷) Shares Outstanding4

Fair Value per Share$75.52

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.1%	10.1%	13.1%	16.1%	19.1%
6.8%	$1	$58	$119	$179	$240
7.8%	$1	$45	$93	$140	$187
8.8%	$0	$37	$76	$114	$153
9.8%	$-0	$31	$63	$96	$128
10.8%	$-1	$26	$54	$82	$110

Current price: $9.89. Green = undervalued, Red = overvalued.

Working Capital Assumption

Trading Multiples

Fair Value

$4.06

Market Price

$9.89

Upside / Downside

-58.9%

Verdict

Overvalued

Using the industry peer median EV/Revenue multiple (trailing + forward), REalloys Inc. (ALOY) has a fair value of $4.06 based on 7 comparable companies in the Other Precious Metals industry.

EV/Revenue Valuation — Other Precious Metals

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
REalloys Inc.ALOY	38	15.8x	11.6x
Compañía de Minas Buenaventura S.A.A.BVN	8,989	5.3x	7.1x
Elevra Lithium LimitedELVR	7,379	50.8x	—
Aura MineralsAUGO	6,880	7.6x	4.0x
Triple Flag Precious Metals Corp.TFPM	6,694	16.9x	12.5x
Aris Mining CorporationARIS	4,064	4.5x	2.7x
Fortuna Mining Corp.FSM	3,277	3.1x	2.9x
Endeavour Silver Corp.EXK	2,966	6.4x	6.3x
Industry Median		6.4x	5.2x
(*) Revenue		2	3
= Enterprise Value		16	17
(-) Net Debt		1	1
Equity Value		15	16
(/) Outstanding shares		4	4
Fair Price		$4	$4

Selected Fair Value (avg of trailing + forward)

$4.06

-58.9%