CISO Global Inc.

CISO

TechnologySoftware - InfrastructureNASDAQ

$0.29

Market Cap: $8.71M

CISO Global Inc. (CISO) Valuation Summary

Updated Apr 6, 2026 22:25

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	—	N/A	—
Revenue DCF 10Y	$0.34 – $14.78	$3.11	+795.6%
▸ Trading Multiples
EV/Revenue	$2.39 – $9.06	$2.47	+610.3%

Valuation History

DCF Analysis

CISO Global Inc. (CISO) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$3.11

Market Price

$0.29

Upside / Downside

+973.2%

Verdict

Undervalued

Using a Revenue DCF model with operating margin convergence from -47.4% to a target of 10.0% over 5 years, discounted at a WACC of 11.9%, CISO Global Inc. (CISO) has an intrinsic value of $3.11 per share (range: $0.34 – $14.78).

Key Assumptions

Current Operating Margin

-47.4%

Target Operating Margin

10.0%

WACC

11.9%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

0.3%

Target CapEx/Rev

7.9%

D&A/Revenue

5.3%

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)
2025	40	30.0%	-36.0%	-14	-14	2	(0)	6	-19	-18
2026	52	30.0%	-24.5%	-13	-13	3	(1)	1	-12	-10
2027	68	30.0%	-13.0%	-9	-9	4	(2)	1	-8	-6
2028	88	30.0%	-1.5%	-1	-1	5	(3)	1	-1	-0
2029	114	30.0%	10.0%	11	9	6	(5)	1	9	5
2030	147	28.4%	10.0%	15	12	8	(7)	2	10	6
2031	181	23.3%	10.0%	18	14	9	(10)	2	12	6
2032	214	18.2%	10.0%	21	17	11	(14)	2	13	6
2033	242	13.1%	10.0%	24	19	13	(17)	1	13	5
2034	261	8.1%	10.0%	26	21	14	(21)	1	13	4

Enterprise Value Bridge

Sum of PV(FCFF)-2

Terminal Value (Gordon Growth at 3.0%)147

PV of Terminal Value51

Enterprise Value49

(–) Net Debt11

Equity Value37

(÷) Shares Outstanding12

Fair Value per Share$3.11

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	4.0%	7.0%	10.0%	13.0%	16.0%
9.9%	$-4	$1	$6	$10	$15
10.9%	$-4	$0	$4	$8	$12
11.9%	$-4	$-0	$3	$6	$10
12.9%	$-4	$-1	$2	$5	$8
13.9%	$-4	$-1	$2	$4	$7

Current price: $0.29. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 5.0% 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

$2.47

Market Price

$0.29

Upside / Downside

+751.2%

Verdict

Undervalued

Using the industry peer median EV/Revenue multiple (trailing + forward), CISO Global Inc. (CISO) has a fair value of $2.47 based on 10 comparable companies in the Software - Infrastructure industry.

EV/Revenue Valuation — Software - Infrastructure

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
CISO Global Inc.CISO	3	0.5x	0.3x
Pagaya Technologies Ltd.PGY	1,002	1.3x	1.6x
Giftify, Inc.GIFT	35	0.4x	0.4x
LivePerson, Inc.LPSN	33	1.4x	0.6x
Pixelworks, Inc.PXLW	29	26.0x	0.3x
Mogo Inc.MOGO	23	1.5x	—
Mobix Labs, Inc.MOBX	23	2.7x	—
Viewbix Inc.VBIX	21	14.5x	—
Intrusion Inc.INTZ	18	2.2x	1.6x
authID Inc.AUID	16	3.9x	—
The Glimpse Group, Inc.VRAR	12	0.5x	0.3x
Industry Median		1.9x	0.5x
(*) Revenue		31	45
= Enterprise Value		58	24
(-) Net Debt		11	11
Equity Value		47	12
(/) Outstanding shares		12	12
Fair Price		$4	$1

Selected Fair Value (avg of trailing + forward)

$2.47

+751.2%

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

—

N/A

—

Revenue DCF 10Y

$0.34 – $14.78

$3.11

+795.6%

▸ Trading Multiples

EV/Revenue

$2.39 – $9.06

$2.47

+610.3%

DCF Analysis

CISO Global Inc. (CISO) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$3.11

Market Price

$0.29

Upside / Downside

+973.2%

Verdict

Undervalued

Key Assumptions

Current Operating Margin

-47.4%

Target Operating Margin

10.0%

WACC

11.9%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

0.3%

Target CapEx/Rev

7.9%

D&A/Revenue

5.3%

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)
2025	40	30.0%	-36.0%	-14	-14	2	(0)	6	-19	-18
2026	52	30.0%	-24.5%	-13	-13	3	(1)	1	-12	-10
2027	68	30.0%	-13.0%	-9	-9	4	(2)	1	-8	-6
2028	88	30.0%	-1.5%	-1	-1	5	(3)	1	-1	-0
2029	114	30.0%	10.0%	11	9	6	(5)	1	9	5
2030	147	28.4%	10.0%	15	12	8	(7)	2	10	6
2031	181	23.3%	10.0%	18	14	9	(10)	2	12	6
2032	214	18.2%	10.0%	21	17	11	(14)	2	13	6
2033	242	13.1%	10.0%	24	19	13	(17)	1	13	5
2034	261	8.1%	10.0%	26	21	14	(21)	1	13	4

Enterprise Value Bridge

Sum of PV(FCFF)-2

Terminal Value (Gordon Growth at 3.0%)147

PV of Terminal Value51

Enterprise Value49

(–) Net Debt11

Equity Value37

(÷) Shares Outstanding12

Fair Value per Share$3.11

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	4.0%	7.0%	10.0%	13.0%	16.0%
9.9%	$-4	$1	$6	$10	$15
10.9%	$-4	$0	$4	$8	$12
11.9%	$-4	$-0	$3	$6	$10
12.9%	$-4	$-1	$2	$5	$8
13.9%	$-4	$-1	$2	$4	$7

Current price: $0.29. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 5.0% 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

$2.47

Market Price

$0.29

Upside / Downside

+751.2%

Verdict

Undervalued

Using the industry peer median EV/Revenue multiple (trailing + forward), CISO Global Inc. (CISO) has a fair value of $2.47 based on 10 comparable companies in the Software - Infrastructure industry.

EV/Revenue Valuation — Software - Infrastructure

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
CISO Global Inc.CISO	3	0.5x	0.3x
Pagaya Technologies Ltd.PGY	1,002	1.3x	1.6x
Giftify, Inc.GIFT	35	0.4x	0.4x
LivePerson, Inc.LPSN	33	1.4x	0.6x
Pixelworks, Inc.PXLW	29	26.0x	0.3x
Mogo Inc.MOGO	23	1.5x	—
Mobix Labs, Inc.MOBX	23	2.7x	—
Viewbix Inc.VBIX	21	14.5x	—
Intrusion Inc.INTZ	18	2.2x	1.6x
authID Inc.AUID	16	3.9x	—
The Glimpse Group, Inc.VRAR	12	0.5x	0.3x
Industry Median		1.9x	0.5x
(*) Revenue		31	45
= Enterprise Value		58	24
(-) Net Debt		11	11
Equity Value		47	12
(/) Outstanding shares		12	12
Fair Price		$4	$1

Selected Fair Value (avg of trailing + forward)

$2.47

+751.2%