Interlink Electronics, Inc.

LINK

TechnologyHardware, Equipment & PartsNASDAQ

$3.58

Market Cap: $56.38M

Interlink Electronics, Inc. (LINK) Valuation Summary

Updated Apr 21, 2026 22:14

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	$0.23 – $2.87	$0.42	-85.9%
Revenue DCF 10Y	$0.26 – $4.54	$1.23	-58.3%
▸ Trading Multiples
EV/Revenue	$0.82 – $2.13	$1.21	-59.1%

Valuation History

DCF Analysis

Interlink Electronics, Inc. (LINK) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$1.23

Market Price

$3.58

Upside / Downside

-65.6%

Verdict

Overvalued

Using a Revenue DCF model with operating margin convergence from -15.4% to a target of 10.0% over 5 years, discounted at a WACC of 9.0%, Interlink Electronics, Inc. (LINK) has an intrinsic value of $1.23 per share (range: $0.26 – $4.54).

Key Assumptions

Current Operating Margin

-15.4%

Target Operating Margin

10.0%

WACC

9.0%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1.1%

Target CapEx/Rev

8.6%

D&A/Revenue

5.7%

Tax Rate

13.9%

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	17	40.5%	-10.3%	-2	-2	1	(0)	2	-3	-3
2027	20	19.2%	-5.2%	-1	-1	1	(1)	1	-1	-1
2028	22	12.3%	-0.2%	-0	-0	1	(1)	1	-0	-0
2029	25	12.3%	4.9%	1	1	1	(1)	1	1	1
2030	28	12.3%	10.0%	3	2	2	(1)	1	2	1
2031	31	10.7%	10.0%	3	3	2	(2)	1	2	1
2032	34	9.2%	10.0%	3	3	2	(2)	1	2	1
2033	37	7.6%	10.0%	4	3	2	(3)	1	2	1
2034	39	6.1%	10.0%	4	3	2	(3)	1	2	1
2035	41	4.5%	10.0%	4	3	2	(3)	0	2	1

Enterprise Value Bridge

Sum of PV(FCFF)2

Terminal Value (Gordon Growth at 3.0%)32

PV of Terminal Value14

Enterprise Value16

(–) Net Debt-2

Equity Value18

(÷) Shares Outstanding15

Fair Value per Share$1.23

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	4.0%	7.0%	10.0%	13.0%	16.0%
7.0%	$-0	$1	$2	$3	$5
8.0%	$-0	$1	$2	$3	$4
9.0%	$-0	$0	$1	$2	$3
10.0%	$-0	$0	$1	$2	$2
11.0%	$-0	$0	$1	$1	$2

Current price: $3.58. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 27.4% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Interlink Electronics, Inc. (LINK) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$0.42

Market Price

$3.58

Upside / Downside

-88.3%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-15.4%

Target Operating Margin

10.0%

WACC

9.0%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1.1%

Target CapEx/Rev

8.6%

D&A/Revenue

5.7%

Tax Rate

13.9%

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	17	40.5%	-10.3%	-2	-2	1	(0)	2	-3	-3
2027	20	19.2%	-5.2%	-1	-1	1	(1)	1	-2	-1
2028	22	12.3%	-0.2%	-0	-0	1	(1)	1	-1	-1
2029	25	12.3%	4.9%	1	1	1	(2)	1	-0	-0
2030	28	12.3%	10.0%	3	2	2	(2)	1	1	1

Enterprise Value Bridge

Sum of PV(FCFF)-5

Terminal Value (Gordon Growth at 3.0%)13

PV of Terminal Value9

Enterprise Value4

(–) Net Debt-2

Equity Value6

(÷) Shares Outstanding15

Fair Value per Share$0.42

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	4.0%	7.0%	10.0%	13.0%	16.0%
7.0%	$-0	$-0	$1	$2	$3
8.0%	$-0	$-0	$1	$1	$2
9.0%	$-0	$-0	$0	$1	$2
10.0%	$-0	$-0	$0	$1	$1
11.0%	$-0	$-0	$0	$1	$1

Current price: $3.58. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 27.4% 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

$1.21

Market Price

$3.58

Upside / Downside

-66.3%

Verdict

Overvalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Interlink Electronics, Inc. (LINK) has a fair value of $1.21 based on 8 comparable companies in the Hardware, Equipment & Parts industry.

EV/Revenue Valuation — Hardware, Equipment & Parts

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Interlink Electronics, Inc.LINK	53	4.3x	3.7x
Syntec Optics Holdings, Inc.OPTX	351	13.0x	—
Silicom Ltd.SILC	180	2.5x	1.2x
Comtech Telecommunications Corp.CMTL	120	0.7x	0.3x
Genasys Inc.GNSS	85	2.4x	2.8x
Eltek Ltd.ELTK	56	1.1x	1.4x
MIND Technology, Inc.MIND	53	0.9x	1.0x
Soluna Holdings, Inc.SLNH	38	1.4x	1.7x
Gauzy Ltd. Ordinary SharesGAUZ	14	0.6x	0.6x
Industry Median		1.3x	1.2x
(*) Revenue		12	14
= Enterprise Value		15	17
(-) Net Debt		-2	-2
Equity Value		17	19
(/) Outstanding shares		15	15
Fair Price		$1	$1

Selected Fair Value (avg of trailing + forward)

$1.21

-66.3%

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

$0.23 – $2.87

$0.42

-85.9%

Revenue DCF 10Y

$0.26 – $4.54

$1.23

-58.3%

▸ Trading Multiples

EV/Revenue

$0.82 – $2.13

$1.21

-59.1%

DCF Analysis

Interlink Electronics, Inc. (LINK) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$1.23

Market Price

$3.58

Upside / Downside

-65.6%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-15.4%

Target Operating Margin

10.0%

WACC

9.0%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1.1%

Target CapEx/Rev

8.6%

D&A/Revenue

5.7%

Tax Rate

13.9%

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	17	40.5%	-10.3%	-2	-2	1	(0)	2	-3	-3
2027	20	19.2%	-5.2%	-1	-1	1	(1)	1	-1	-1
2028	22	12.3%	-0.2%	-0	-0	1	(1)	1	-0	-0
2029	25	12.3%	4.9%	1	1	1	(1)	1	1	1
2030	28	12.3%	10.0%	3	2	2	(1)	1	2	1
2031	31	10.7%	10.0%	3	3	2	(2)	1	2	1
2032	34	9.2%	10.0%	3	3	2	(2)	1	2	1
2033	37	7.6%	10.0%	4	3	2	(3)	1	2	1
2034	39	6.1%	10.0%	4	3	2	(3)	1	2	1
2035	41	4.5%	10.0%	4	3	2	(3)	0	2	1

Enterprise Value Bridge

Sum of PV(FCFF)2

Terminal Value (Gordon Growth at 3.0%)32

PV of Terminal Value14

Enterprise Value16

(–) Net Debt-2

Equity Value18

(÷) Shares Outstanding15

Fair Value per Share$1.23

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	4.0%	7.0%	10.0%	13.0%	16.0%
7.0%	$-0	$1	$2	$3	$5
8.0%	$-0	$1	$2	$3	$4
9.0%	$-0	$0	$1	$2	$3
10.0%	$-0	$0	$1	$2	$2
11.0%	$-0	$0	$1	$1	$2

Current price: $3.58. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 27.4% 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

$1.21

Market Price

$3.58

Upside / Downside

-66.3%

Verdict

Overvalued

EV/Revenue Valuation — Hardware, Equipment & Parts

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Interlink Electronics, Inc.LINK	53	4.3x	3.7x
Syntec Optics Holdings, Inc.OPTX	351	13.0x	—
Silicom Ltd.SILC	180	2.5x	1.2x
Comtech Telecommunications Corp.CMTL	120	0.7x	0.3x
Genasys Inc.GNSS	85	2.4x	2.8x
Eltek Ltd.ELTK	56	1.1x	1.4x
MIND Technology, Inc.MIND	53	0.9x	1.0x
Soluna Holdings, Inc.SLNH	38	1.4x	1.7x
Gauzy Ltd. Ordinary SharesGAUZ	14	0.6x	0.6x
Industry Median		1.3x	1.2x
(*) Revenue		12	14
= Enterprise Value		15	17
(-) Net Debt		-2	-2
Equity Value		17	19
(/) Outstanding shares		15	15
Fair Price		$1	$1

Selected Fair Value (avg of trailing + forward)

$1.21

-66.3%