Jowell Global Ltd.

JWEL

Consumer CyclicalSpecialty RetailNASDAQ

$2.40

Market Cap: $5.21M

Jowell Global Ltd. (JWEL) Valuation Summary

Updated May 11, 2026 04:52

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	$3.40 – $126.69	$6.89	+187.2%
Revenue DCF 10Y	$9.56 – $122.88	$13.04	+443.3%
▸ Trading Multiples
EV/Revenue	$3.05 – $132.84	$24.53	+922.0%

Valuation History

DCF Analysis

Jowell Global Ltd. (JWEL) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$13.04

Market Price

$2.40

Upside / Downside

+443.3%

Verdict

Undervalued

Using a Revenue DCF model with operating margin convergence from -3.0% to a target of 7.7% over 5 years, discounted at a WACC of 7.8%, Jowell Global Ltd. (JWEL) has an intrinsic value of $13.04 per share (range: $9.56 – $122.88).

Key Assumptions

Current Operating Margin

-3.0%

Target Operating Margin

7.7%

WACC

7.8%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

0.4%

Target CapEx/Rev

6.0%

D&A/Revenue

0.9%

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	164	-0.9%	-0.9%	-1	-1	2	(2)	6	-8	-8
2027	162	-0.9%	1.3%	2	2	2	(2)	-0	1	1
2028	161	-0.9%	3.4%	5	4	1	(3)	-0	3	2
2029	160	-0.4%	5.6%	9	7	1	(4)	-0	4	3
2030	160	0.1%	7.7%	12	10	1	(5)	0	6	4
2031	161	0.6%	7.7%	12	10	2	(6)	0	5	3
2032	163	1.1%	7.7%	13	10	2	(7)	0	4	3
2033	165	1.6%	7.7%	13	10	2	(8)	0	3	2
2034	169	2.0%	7.7%	13	10	2	(9)	0	2	1
2035	173	2.5%	7.7%	13	11	2	(10)	0	1	1

Enterprise Value Bridge

Sum of PV(FCFF)13

Terminal Value (Gordon Growth at 3.0%)29

PV of Terminal Value14

Enterprise Value27

(–) Net Debt-1

Equity Value29

(÷) Shares Outstanding2

Fair Value per Share$13.04

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	1.7%	4.7%	7.7%	10.7%	13.7%
5.8%	$-14	$-3	$21	$72	$123
6.8%	$-13	$-3	$16	$53	$90
7.8%	$-12	$-3	$13	$42	$71
8.8%	$-12	$-3	$11	$35	$59
9.8%	$-12	$-3	$10	$30	$50

Current price: $2.40. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 9.9% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Jowell Global Ltd. (JWEL) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$6.89

Market Price

$2.40

Upside / Downside

+187.2%

Verdict

Undervalued

Key Assumptions

Current Operating Margin

-3.0%

Target Operating Margin

7.7%

WACC

7.8%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

0.4%

Target CapEx/Rev

6.0%

D&A/Revenue

0.9%

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	164	-0.9%	-0.9%	-1	-1	2	(2)	6	-9	-8
2027	162	-0.9%	1.3%	2	2	2	(4)	-0	-1	-1
2028	161	-0.9%	3.4%	5	4	1	(6)	-0	-0	-0
2029	161	0.4%	5.6%	9	7	2	(8)	0	1	1
2030	164	1.7%	7.7%	13	10	2	(10)	0	1	1

Enterprise Value Bridge

Sum of PV(FCFF)-8

Terminal Value (Gordon Growth at 3.0%)30

PV of Terminal Value22

Enterprise Value14

(–) Net Debt-1

Equity Value15

(÷) Shares Outstanding2

Fair Value per Share$6.89

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	1.7%	4.7%	7.7%	10.7%	13.7%
5.8%	$-12	$-8	$16	$71	$127
6.8%	$-12	$-7	$10	$50	$91
7.8%	$-12	$-7	$7	$38	$70
8.8%	$-12	$-7	$5	$31	$56
9.8%	$-11	$-7	$3	$25	$47

Current price: $2.40. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 9.9% 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

$24.53

Market Price

$2.40

Upside / Downside

+922.0%

Verdict

Undervalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Jowell Global Ltd. (JWEL) has a fair value of $24.53 based on 3 comparable companies in the Specialty Retail industry.

EV/Revenue Valuation — Specialty Retail

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Jowell Global Ltd.JWEL	5	0.0x	0.0x
WEBUY GLOBAL Ltd. Ordinary SharesWBUY	1	0.0x	0.0x
Interactive Strength Inc.TRNR	0	1.8x	17.3x
Nuvve Holding Corp.NVVE	0	0.2x	0.1x
Industry Median		0.2x	0.1x
(*) Revenue		165	680
= Enterprise Value		27	78
(-) Net Debt		-1	-1
Equity Value		28	79
(/) Outstanding shares		2	2
Fair Price		$13	$36

Selected Fair Value (avg of trailing + forward)

$24.53

+922.0%

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

$3.40 – $126.69

$6.89

+187.2%

Revenue DCF 10Y

$9.56 – $122.88

$13.04

+443.3%

▸ Trading Multiples

EV/Revenue

$3.05 – $132.84

$24.53

+922.0%

DCF Analysis

Jowell Global Ltd. (JWEL) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$13.04

Market Price

$2.40

Upside / Downside

+443.3%

Verdict

Undervalued

Key Assumptions

Current Operating Margin

-3.0%

Target Operating Margin

7.7%

WACC

7.8%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

0.4%

Target CapEx/Rev

6.0%

D&A/Revenue

0.9%

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	164	-0.9%	-0.9%	-1	-1	2	(2)	6	-8	-8
2027	162	-0.9%	1.3%	2	2	2	(2)	-0	1	1
2028	161	-0.9%	3.4%	5	4	1	(3)	-0	3	2
2029	160	-0.4%	5.6%	9	7	1	(4)	-0	4	3
2030	160	0.1%	7.7%	12	10	1	(5)	0	6	4
2031	161	0.6%	7.7%	12	10	2	(6)	0	5	3
2032	163	1.1%	7.7%	13	10	2	(7)	0	4	3
2033	165	1.6%	7.7%	13	10	2	(8)	0	3	2
2034	169	2.0%	7.7%	13	10	2	(9)	0	2	1
2035	173	2.5%	7.7%	13	11	2	(10)	0	1	1

Enterprise Value Bridge

Sum of PV(FCFF)13

Terminal Value (Gordon Growth at 3.0%)29

PV of Terminal Value14

Enterprise Value27

(–) Net Debt-1

Equity Value29

(÷) Shares Outstanding2

Fair Value per Share$13.04

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	1.7%	4.7%	7.7%	10.7%	13.7%
5.8%	$-14	$-3	$21	$72	$123
6.8%	$-13	$-3	$16	$53	$90
7.8%	$-12	$-3	$13	$42	$71
8.8%	$-12	$-3	$11	$35	$59
9.8%	$-12	$-3	$10	$30	$50

Current price: $2.40. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 9.9% 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

$24.53

Market Price

$2.40

Upside / Downside

+922.0%

Verdict

Undervalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Jowell Global Ltd. (JWEL) has a fair value of $24.53 based on 3 comparable companies in the Specialty Retail industry.

EV/Revenue Valuation — Specialty Retail

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Jowell Global Ltd.JWEL	5	0.0x	0.0x
WEBUY GLOBAL Ltd. Ordinary SharesWBUY	1	0.0x	0.0x
Interactive Strength Inc.TRNR	0	1.8x	17.3x
Nuvve Holding Corp.NVVE	0	0.2x	0.1x
Industry Median		0.2x	0.1x
(*) Revenue		165	680
= Enterprise Value		27	78
(-) Net Debt		-1	-1
Equity Value		28	79
(/) Outstanding shares		2	2
Fair Price		$13	$36

Selected Fair Value (avg of trailing + forward)

$24.53

+922.0%