AlTi Global, Inc.

ALTI

Financial ServicesAsset Management - GlobalNASDAQ

$3.45

Market Cap: $512.30M

AlTi Global, Inc. (ALTI) Valuation Summary

Updated Apr 6, 2026 22:24

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	$3.84 – $42.85	$12.65	+235.5%
Revenue DCF 10Y	$12.83 – $104.48	$33.14	+778.9%
▸ Trading Multiples
EV/Revenue	$5.15 – $9.74	$8.22	+118.1%

Valuation History

DCF Analysis

AlTi Global, Inc. (ALTI) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$33.14

Market Price

$3.45

Upside / Downside

+860.6%

Verdict

Undervalued

Using a Revenue DCF model with operating margin convergence from -29.0% to a target of 24.1% over 5 years, discounted at a WACC of 6.7%, AlTi Global, Inc. (ALTI) has an intrinsic value of $33.14 per share (range: $12.83 – $104.48).

Key Assumptions

Current Operating Margin

-29.0%

Target Operating Margin

24.1%

WACC

6.7%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1.0%

Target CapEx/Rev

9.8%

D&A/Revenue

6.5%

Tax Rate

12.0%

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	295	15.8%	-18.4%	-54	-54	19	(6)	5	-45	-44
2027	327	10.7%	-7.7%	-25	-25	21	(9)	8	-21	-19
2028	425	30.0%	2.9%	12	11	28	(15)	23	-0	-0
2029	552	30.0%	13.5%	75	66	36	(25)	30	46	37
2030	718	30.0%	24.1%	173	153	47	(39)	40	121	90
2031	933	30.0%	24.1%	225	198	61	(58)	51	149	104
2032	1,163	24.6%	24.1%	281	247	76	(83)	55	185	121
2033	1,387	19.2%	24.1%	335	295	90	(111)	53	221	135
2034	1,578	13.8%	24.1%	381	336	103	(140)	46	252	145
2035	1,711	8.4%	24.1%	413	364	111	(167)	32	277	149

Enterprise Value Bridge

Sum of PV(FCFF)719

Terminal Value (Gordon Growth at 3.0%)7,618

PV of Terminal Value4,100

Enterprise Value4,819

(–) Net Debt21

Equity Value4,798

(÷) Shares Outstanding145

Fair Value per Share$33.14

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	18.1%	21.1%	24.1%	27.1%	30.1%
4.7%	$52	$65	$78	$91	$104
5.7%	$32	$40	$47	$55	$63
6.7%	$22	$28	$33	$39	$44
7.7%	$16	$21	$25	$29	$33
8.7%	$13	$16	$20	$23	$26

Current price: $3.45. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 23.9% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

AlTi Global, Inc. (ALTI) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$12.65

Market Price

$3.45

Upside / Downside

+266.7%

Verdict

Undervalued

Key Assumptions

Current Operating Margin

-29.0%

Target Operating Margin

24.1%

WACC

6.7%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1.0%

Target CapEx/Rev

9.8%

D&A/Revenue

6.5%

Tax Rate

12.0%

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	295	15.8%	-18.4%	-54	-54	19	(8)	5	-48	-46
2027	327	10.7%	-7.7%	-25	-25	21	(15)	8	-26	-24
2028	425	30.0%	2.9%	12	11	28	(27)	23	-12	-10
2029	552	30.0%	13.5%	75	66	36	(44)	30	27	22
2030	718	30.0%	24.1%	173	153	47	(70)	40	90	67

Enterprise Value Bridge

Sum of PV(FCFF)8

Terminal Value (Gordon Growth at 3.0%)2,473

PV of Terminal Value1,844

Enterprise Value1,852

(–) Net Debt21

Equity Value1,832

(÷) Shares Outstanding145

Fair Value per Share$12.65

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	18.1%	21.1%	24.1%	27.1%	30.1%
4.7%	$17	$23	$30	$36	$43
5.7%	$10	$14	$18	$22	$26
6.7%	$7	$10	$13	$16	$19
7.7%	$5	$7	$10	$12	$14
8.7%	$4	$6	$8	$9	$11

Current price: $3.45. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 23.9% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Trading Multiples

Fair Value

$11.92

Market Price

$3.45

Upside / Downside

+245.6%

Verdict

Undervalued

Using the industry peer median EV/Revenue multiple (trailing + forward), AlTi Global, Inc. (ALTI) has a fair value of $11.92 based on 10 comparable companies in the Asset Management - Global industry.

EV/Revenue Valuation — Asset Management - Global

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
AlTi Global, Inc.ALTI	345	1.4x	1.6x
Berkshire Hathaway Inc.BRK-B	1,029,345	3.0x	3.0x
Berkshire Hathaway Inc.BRK-A	1,028,549	3.0x	3.0x
JPMorgan Chase & Co.JPM	796,838	3.4x	5.4x
Visa Inc.V	584,832	14.7x	13.2x
Mastercard IncorporatedMA	447,558	13.9x	12.3x
Bank of America CorporationBAC	359,265	2.6x	4.5x
HSBC Holdings plcHSBC	290,955	3.4x	6.9x
Morgan StanleyMS	264,331	5.5x	9.0x
The Goldman Sachs Group, Inc.GS	257,003	5.6x	11.9x
Wells Fargo & CompanyWFC	252,560	4.1x	6.1x
Industry Median		3.7x	6.5x
(*) Revenue		255	226
= Enterprise Value		955	1,468
(-) Net Debt		21	21
Equity Value		934	1,447
(/) Outstanding shares		100	100
Fair Price		$9	$14

Selected Fair Value (avg of trailing + forward)

$11.92

+245.6%

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

$3.84 – $42.85

$12.65

+235.5%

Revenue DCF 10Y

$12.83 – $104.48

$33.14

+778.9%

▸ Trading Multiples

EV/Revenue

$5.15 – $9.74

$8.22

+118.1%

DCF Analysis

AlTi Global, Inc. (ALTI) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$33.14

Market Price

$3.45

Upside / Downside

+860.6%

Verdict

Undervalued

Key Assumptions

Current Operating Margin

-29.0%

Target Operating Margin

24.1%

WACC

6.7%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1.0%

Target CapEx/Rev

9.8%

D&A/Revenue

6.5%

Tax Rate

12.0%

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	295	15.8%	-18.4%	-54	-54	19	(6)	5	-45	-44
2027	327	10.7%	-7.7%	-25	-25	21	(9)	8	-21	-19
2028	425	30.0%	2.9%	12	11	28	(15)	23	-0	-0
2029	552	30.0%	13.5%	75	66	36	(25)	30	46	37
2030	718	30.0%	24.1%	173	153	47	(39)	40	121	90
2031	933	30.0%	24.1%	225	198	61	(58)	51	149	104
2032	1,163	24.6%	24.1%	281	247	76	(83)	55	185	121
2033	1,387	19.2%	24.1%	335	295	90	(111)	53	221	135
2034	1,578	13.8%	24.1%	381	336	103	(140)	46	252	145
2035	1,711	8.4%	24.1%	413	364	111	(167)	32	277	149

Enterprise Value Bridge

Sum of PV(FCFF)719

Terminal Value (Gordon Growth at 3.0%)7,618

PV of Terminal Value4,100

Enterprise Value4,819

(–) Net Debt21

Equity Value4,798

(÷) Shares Outstanding145

Fair Value per Share$33.14

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	18.1%	21.1%	24.1%	27.1%	30.1%
4.7%	$52	$65	$78	$91	$104
5.7%	$32	$40	$47	$55	$63
6.7%	$22	$28	$33	$39	$44
7.7%	$16	$21	$25	$29	$33
8.7%	$13	$16	$20	$23	$26

Current price: $3.45. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 23.9% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Trading Multiples

Fair Value

$11.92

Market Price

$3.45

Upside / Downside

+245.6%

Verdict

Undervalued

EV/Revenue Valuation — Asset Management - Global

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
AlTi Global, Inc.ALTI	345	1.4x	1.6x
Berkshire Hathaway Inc.BRK-B	1,029,345	3.0x	3.0x
Berkshire Hathaway Inc.BRK-A	1,028,549	3.0x	3.0x
JPMorgan Chase & Co.JPM	796,838	3.4x	5.4x
Visa Inc.V	584,832	14.7x	13.2x
Mastercard IncorporatedMA	447,558	13.9x	12.3x
Bank of America CorporationBAC	359,265	2.6x	4.5x
HSBC Holdings plcHSBC	290,955	3.4x	6.9x
Morgan StanleyMS	264,331	5.5x	9.0x
The Goldman Sachs Group, Inc.GS	257,003	5.6x	11.9x
Wells Fargo & CompanyWFC	252,560	4.1x	6.1x
Industry Median		3.7x	6.5x
(*) Revenue		255	226
= Enterprise Value		955	1,468
(-) Net Debt		21	21
Equity Value		934	1,447
(/) Outstanding shares		100	100
Fair Price		$9	$14

Selected Fair Value (avg of trailing + forward)

$11.92

+245.6%