FingerMotion, Inc.

FNGR

Communication ServicesTelecommunications ServicesNASDAQ

$0.82

Market Cap: $50.24M

FingerMotion, Inc. (FNGR) Valuation Summary

Updated May 10, 2026 18:27

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	—	N/A	—
Revenue DCF 10Y	$0.96 – $15.02	$1.78	+116.5%
▸ Trading Multiples
EV/Revenue	$0.52 – $0.74	$0.46	-43.6%

Valuation History

DCF Analysis

FingerMotion, Inc. (FNGR) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$1.78

Market Price

$0.82

Upside / Downside

+116.5%

Verdict

Undervalued

Using a Revenue DCF model with operating margin convergence from -16.7% to a target of 10.4% over 5 years, discounted at a WACC of 7.7%, FingerMotion, Inc. (FNGR) has an intrinsic value of $1.78 per share (range: $0.96 – $15.02).

Key Assumptions

Current Operating Margin

-16.7%

Target Operating Margin

10.4%

WACC

7.7%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

0.4%

Target CapEx/Rev

6.0%

D&A/Revenue

0.3%

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)
2026	126	254.8%	-11.3%	-14	-14	0	(1)	5	-20	-19
2027	153	20.9%	-5.9%	-9	-9	0	(2)	3	-14	-12
2028	185	20.9%	-0.4%	-1	-1	0	(4)	3	-7	-6
2029	223	20.9%	5.0%	11	9	1	(6)	4	-0	-0
2030	270	20.9%	10.4%	28	22	1	(9)	5	9	7
2031	318	17.9%	10.4%	33	26	1	(12)	5	10	7
2032	365	14.9%	10.4%	38	30	1	(16)	5	10	6
2033	409	11.9%	10.4%	43	34	1	(20)	5	10	6
2034	445	9.0%	10.4%	46	37	1	(24)	4	10	5
2035	472	6.0%	10.4%	49	39	1	(28)	3	9	4

Enterprise Value Bridge

Sum of PV(FCFF)-3

Terminal Value (Gordon Growth at 3.0%)197

PV of Terminal Value97

Enterprise Value95

(–) Net Debt0

Equity Value95

(÷) Shares Outstanding53

Fair Value per Share$1.78

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	4.4%	7.4%	10.4%	13.4%	16.4%
5.7%	$-2	$-1	$4	$9	$15
6.7%	$-2	$-1	$3	$6	$10
7.7%	$-2	$-1	$2	$5	$8
8.7%	$-2	$-1	$1	$4	$6
9.7%	$-1	$-1	$1	$3	$5

Current price: $0.82. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 10.4% 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

$0.46

Market Price

$0.82

Upside / Downside

-43.6%

Verdict

Overvalued

Using the industry peer median EV/Revenue multiple (trailing + forward), FingerMotion, Inc. (FNGR) has a fair value of $0.46 based on 5 comparable companies in the Telecommunications Services industry.

EV/Revenue Valuation — Telecommunications Services

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
FingerMotion, Inc.FNGR	44	1.2x	1.5x
KORE Group Holdings, Inc.KORE	161	0.5x	0.5x
TravelzooTZOO	102	1.1x	1.2x
IZEA Worldwide, Inc.IZEA	75	0.8x	0.7x
Marchex, Inc.MCHX	70	1.3x	1.2x
Cardlytics, Inc.CDLX	35	0.9x	0.7x
Industry Median		0.9x	0.7x
(*) Revenue		36	28
= Enterprise Value		31	19
(-) Net Debt		0	0
Equity Value		31	19
(/) Outstanding shares		53	53
Fair Price		$1	$0

Selected Fair Value (avg of trailing + forward)

$0.46

-43.6%

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

—

N/A

—

Revenue DCF 10Y

$0.96 – $15.02

$1.78

+116.5%

▸ Trading Multiples

EV/Revenue

$0.52 – $0.74

$0.46

-43.6%

DCF Analysis

FingerMotion, Inc. (FNGR) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$1.78

Market Price

$0.82

Upside / Downside

+116.5%

Verdict

Undervalued

Key Assumptions

Current Operating Margin

-16.7%

Target Operating Margin

10.4%

WACC

7.7%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

0.4%

Target CapEx/Rev

6.0%

D&A/Revenue

0.3%

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)
2026	126	254.8%	-11.3%	-14	-14	0	(1)	5	-20	-19
2027	153	20.9%	-5.9%	-9	-9	0	(2)	3	-14	-12
2028	185	20.9%	-0.4%	-1	-1	0	(4)	3	-7	-6
2029	223	20.9%	5.0%	11	9	1	(6)	4	-0	-0
2030	270	20.9%	10.4%	28	22	1	(9)	5	9	7
2031	318	17.9%	10.4%	33	26	1	(12)	5	10	7
2032	365	14.9%	10.4%	38	30	1	(16)	5	10	6
2033	409	11.9%	10.4%	43	34	1	(20)	5	10	6
2034	445	9.0%	10.4%	46	37	1	(24)	4	10	5
2035	472	6.0%	10.4%	49	39	1	(28)	3	9	4

Enterprise Value Bridge

Sum of PV(FCFF)-3

Terminal Value (Gordon Growth at 3.0%)197

PV of Terminal Value97

Enterprise Value95

(–) Net Debt0

Equity Value95

(÷) Shares Outstanding53

Fair Value per Share$1.78

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	4.4%	7.4%	10.4%	13.4%	16.4%
5.7%	$-2	$-1	$4	$9	$15
6.7%	$-2	$-1	$3	$6	$10
7.7%	$-2	$-1	$2	$5	$8
8.7%	$-2	$-1	$1	$4	$6
9.7%	$-1	$-1	$1	$3	$5

Current price: $0.82. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 10.4% 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

$0.46

Market Price

$0.82

Upside / Downside

-43.6%

Verdict

Overvalued

EV/Revenue Valuation — Telecommunications Services

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
FingerMotion, Inc.FNGR	44	1.2x	1.5x
KORE Group Holdings, Inc.KORE	161	0.5x	0.5x
TravelzooTZOO	102	1.1x	1.2x
IZEA Worldwide, Inc.IZEA	75	0.8x	0.7x
Marchex, Inc.MCHX	70	1.3x	1.2x
Cardlytics, Inc.CDLX	35	0.9x	0.7x
Industry Median		0.9x	0.7x
(*) Revenue		36	28
= Enterprise Value		31	19
(-) Net Debt		0	0
Equity Value		31	19
(/) Outstanding shares		53	53
Fair Price		$1	$0

Selected Fair Value (avg of trailing + forward)

$0.46

-43.6%