Kornit Digital Ltd.

KRNT

IndustrialsIndustrial - MachineryNASDAQ

$16.21

Market Cap: $751.18M

Kornit Digital Ltd. (KRNT) Valuation Summary

Updated May 11, 2026 11:08

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	$1.79 – $19.33	$7.27	-55.2%
Revenue DCF 10Y	$0.05 – $10.31	$3.10	-80.9%
▸ Trading Multiples
EV/Revenue	$7.24 – $273.38	$18.48	+14.0%

Valuation History

DCF Analysis

Kornit Digital Ltd. (KRNT) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$3.10

Market Price

$16.21

Upside / Downside

-80.9%

Verdict

Overvalued

Using a Revenue DCF model with operating margin convergence from -16.6% to a target of 10.3% over 5 years, discounted at a WACC of 8.5%, Kornit Digital Ltd. (KRNT) has an intrinsic value of $3.10 per share (range: $0.05 – $10.31).

Key Assumptions

Current Operating Margin

-16.6%

Target Operating Margin

10.3%

WACC

8.5%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

6.4%

Target CapEx/Rev

7.8%

D&A/Revenue

5.2%

Tax Rate

0.0%

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	213	2.5%	-11.2%	-24	-24	11	(14)	4	-31	-30
2027	228	7.0%	-5.8%	-13	-13	12	(15)	7	-24	-21
2028	248	8.8%	-0.5%	-1	-1	13	(17)	10	-15	-12
2029	223	-10.0%	4.9%	11	11	12	(16)	-12	19	15
2030	201	-10.0%	10.3%	21	21	10	(14)	-11	28	19
2031	185	-8.1%	10.3%	19	19	10	(13)	-8	23	15
2032	174	-5.9%	10.3%	18	18	9	(13)	-5	20	12
2033	168	-3.7%	10.3%	17	17	9	(13)	-3	17	9
2034	165	-1.4%	10.3%	17	17	9	(13)	-1	14	7
2035	166	0.8%	10.3%	17	17	9	(13)	1	12	6

Enterprise Value Bridge

Sum of PV(FCFF)18

Terminal Value (Gordon Growth at 3.0%)228

PV of Terminal Value105

Enterprise Value123

(–) Net Debt-17

Equity Value140

(÷) Shares Outstanding45

Fair Value per Share$3.10

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	4.3%	7.3%	10.3%	13.3%	16.3%
6.5%	$0	$3	$5	$8	$10
7.5%	$0	$2	$4	$6	$8
8.5%	$-0	$1	$3	$5	$6
9.5%	$-0	$1	$3	$4	$5
10.5%	$-0	$1	$2	$3	$4

Current price: $16.21. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 49.9% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Kornit Digital Ltd. (KRNT) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$7.27

Market Price

$16.21

Upside / Downside

-55.2%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-16.6%

Target Operating Margin

10.3%

WACC

8.5%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

6.4%

Target CapEx/Rev

7.8%

D&A/Revenue

5.2%

Tax Rate

0.0%

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	213	2.5%	-11.2%	-24	-24	11	(14)	4	-32	-30
2027	228	7.0%	-5.8%	-13	-13	12	(16)	7	-25	-22
2028	248	8.8%	-0.5%	-1	-1	13	(18)	10	-16	-13
2029	223	-10.0%	4.9%	11	11	12	(17)	-12	18	14
2030	201	-10.0%	10.3%	21	21	10	(16)	-11	27	18

Enterprise Value Bridge

Sum of PV(FCFF)-33

Terminal Value (Gordon Growth at 3.0%)499

PV of Terminal Value345

Enterprise Value312

(–) Net Debt-17

Equity Value329

(÷) Shares Outstanding45

Fair Value per Share$7.27

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	4.3%	7.3%	10.3%	13.3%	16.3%
6.5%	$6	$9	$13	$16	$19
7.5%	$4	$7	$9	$12	$14
8.5%	$3	$5	$7	$9	$11
9.5%	$2	$4	$6	$8	$9
10.5%	$2	$3	$5	$6	$8

Current price: $16.21. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 49.9% 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

$18.48

Market Price

$16.21

Upside / Downside

+14.0%

Verdict

Undervalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Kornit Digital Ltd. (KRNT) has a fair value of $18.48 based on 8 comparable companies in the Industrial - Machinery industry.

EV/Revenue Valuation — Industrial - Machinery

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Kornit Digital Ltd.KRNT	733	3.4x	3.5x
Graham CorporationGHM	1,087	5.1x	5.7x
Quanex Building Products CorporationNX	930	0.9x	1.6x
Transcat, Inc.TRNS	714	2.8x	2.3x
Hyster-Yale Materials Handling, Inc.HY	661	0.2x	0.3x
FTAI Infrastructure Inc.FIP	574	8.3x	12.7x
Serve Robotics Inc.SERV	560	173.3x	17.6x
Richtech Robotics Inc. Class B Common StockRR	492	59.3x	60.9x
Aspen Aerogels, Inc.ASPN	417	1.5x	1.5x
Industry Median		3.9x	4.0x
(*) Revenue		208	204
= Enterprise Value		820	819
(-) Net Debt		-17	-17
Equity Value		837	836
(/) Outstanding shares		45	45
Fair Price		$18	$18

Selected Fair Value (avg of trailing + forward)

$18.48

+14.0%

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

$1.79 – $19.33

$7.27

-55.2%

Revenue DCF 10Y

$0.05 – $10.31

$3.10

-80.9%

▸ Trading Multiples

EV/Revenue

$7.24 – $273.38

$18.48

+14.0%

DCF Analysis

Kornit Digital Ltd. (KRNT) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$3.10

Market Price

$16.21

Upside / Downside

-80.9%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-16.6%

Target Operating Margin

10.3%

WACC

8.5%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

6.4%

Target CapEx/Rev

7.8%

D&A/Revenue

5.2%

Tax Rate

0.0%

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	213	2.5%	-11.2%	-24	-24	11	(14)	4	-31	-30
2027	228	7.0%	-5.8%	-13	-13	12	(15)	7	-24	-21
2028	248	8.8%	-0.5%	-1	-1	13	(17)	10	-15	-12
2029	223	-10.0%	4.9%	11	11	12	(16)	-12	19	15
2030	201	-10.0%	10.3%	21	21	10	(14)	-11	28	19
2031	185	-8.1%	10.3%	19	19	10	(13)	-8	23	15
2032	174	-5.9%	10.3%	18	18	9	(13)	-5	20	12
2033	168	-3.7%	10.3%	17	17	9	(13)	-3	17	9
2034	165	-1.4%	10.3%	17	17	9	(13)	-1	14	7
2035	166	0.8%	10.3%	17	17	9	(13)	1	12	6

Enterprise Value Bridge

Sum of PV(FCFF)18

Terminal Value (Gordon Growth at 3.0%)228

PV of Terminal Value105

Enterprise Value123

(–) Net Debt-17

Equity Value140

(÷) Shares Outstanding45

Fair Value per Share$3.10

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	4.3%	7.3%	10.3%	13.3%	16.3%
6.5%	$0	$3	$5	$8	$10
7.5%	$0	$2	$4	$6	$8
8.5%	$-0	$1	$3	$5	$6
9.5%	$-0	$1	$3	$4	$5
10.5%	$-0	$1	$2	$3	$4

Current price: $16.21. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 49.9% 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

$18.48

Market Price

$16.21

Upside / Downside

+14.0%

Verdict

Undervalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Kornit Digital Ltd. (KRNT) has a fair value of $18.48 based on 8 comparable companies in the Industrial - Machinery industry.

EV/Revenue Valuation — Industrial - Machinery

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Kornit Digital Ltd.KRNT	733	3.4x	3.5x
Graham CorporationGHM	1,087	5.1x	5.7x
Quanex Building Products CorporationNX	930	0.9x	1.6x
Transcat, Inc.TRNS	714	2.8x	2.3x
Hyster-Yale Materials Handling, Inc.HY	661	0.2x	0.3x
FTAI Infrastructure Inc.FIP	574	8.3x	12.7x
Serve Robotics Inc.SERV	560	173.3x	17.6x
Richtech Robotics Inc. Class B Common StockRR	492	59.3x	60.9x
Aspen Aerogels, Inc.ASPN	417	1.5x	1.5x
Industry Median		3.9x	4.0x
(*) Revenue		208	204
= Enterprise Value		820	819
(-) Net Debt		-17	-17
Equity Value		837	836
(/) Outstanding shares		45	45
Fair Price		$18	$18

Selected Fair Value (avg of trailing + forward)

$18.48

+14.0%