Using a Revenue DCF model with operating margin convergence from -0.5% to a target of 28.4% over 5 years, discounted at a WACC of 7.4%, eXp World Holdings, Inc. (EXPI) has an intrinsic value of $183.24 per share (range: $91.56 – $432.10).
Using a Revenue DCF model with operating margin convergence from -0.5% to a target of 28.4% over 5 years, discounted at a WACC of 7.4%, eXp World Holdings, Inc. (EXPI) has an intrinsic value of $168.13 per share (range: $82.75 – $399.39).
Using the industry peer median EV/Revenue multiple (trailing + forward), eXp World Holdings, Inc. (EXPI) has a fair value of $337.67 based on 9 comparable companies in the Real Estate - Services industry.
USD in millions except Fair Price. Subject company highlighted.
| Mkt Cap ($M) | Trailing EV/Revenue | Forward EV/Revenue | |
|---|---|---|---|
| eXp World Holdings, Inc.EXPI | 1,075 | 0.2x | 0.2x |
| EPR Properties | 4,459 | 10.4x | 11.9x |
| DiamondRock Hospitality Company | 2,206 | 3.0x | 3.0x |
| ARMOUR Residential REIT, Inc. | 2,187 | 15.4x | 76.7x |
| Dynex Capital, Inc. | 2,032 | 28.1x | — |
| LTC Properties, Inc. | 2,002 | 10.8x | 13.7x |
| Getty Realty Corp. | 1,997 | 13.7x | 16.4x |
| Innovative Industrial Properties, Inc. | 1,648 | 7.5x | 6.4x |
| Marcus & Millichap, Inc. | 1,158 | 1.4x | 1.6x |
| PennyMac Mortgage Investment Trust | 964 | 19.2x | 61.1x |
| Industry Median | 10.8x | 12.8x | |
| (*) Revenue | 4,772 | 4,376 | |
| = Enterprise Value | 51,428 | 56,063 | |
| (-) Net Debt | -124 | -124 | |
| Equity Value | 51,552 | 56,187 | |
| (/) Outstanding shares | 160 | 160 | |
| Fair Price | $323 | $352 | |
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.