Navitas Semiconductor Corporation

NVTS

TechnologySemiconductorsNASDAQ

$19.25

Market Cap: $4.50B

Navitas Semiconductor Corporation (NVTS) Valuation Summary

Updated Apr 6, 2026 22:27

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	—	N/A	—
Revenue DCF 10Y	$0.01 – $0.68	$0.11	-98.7%
▸ Trading Multiples
EV/Revenue	$1.59 – $2.41	$2.07	-76.6%

Valuation History

DCF Analysis

Navitas Semiconductor Corporation (NVTS) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$0.11

Market Price

$19.25

Upside / Downside

-99.4%

Verdict

Overvalued

Using a Revenue DCF model with operating margin convergence from -190.0% to a target of 10.0% over 5 years, discounted at a WACC of 9.0%, Navitas Semiconductor Corporation (NVTS) has an intrinsic value of $0.11 per share (range: $0.01 – $0.68).

Key Assumptions

Current Operating Margin

-190.0%

Target Operating Margin

10.0%

WACC

9.0%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

7.7%

Target CapEx/Rev

37.6%

D&A/Revenue

25.1%

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	38	-17.4%	-150.0%	-57	-57	10	(4)	16	-68	-65
2027	65	70.8%	-110.0%	-71	-71	16	(9)	8	-71	-63
2028	110	70.4%	-70.0%	-77	-77	28	(18)	13	-81	-65
2029	130	17.9%	-30.0%	-39	-39	33	(26)	6	-38	-28
2030	154	17.9%	10.0%	15	15	39	(35)	7	13	8
2031	177	15.4%	10.0%	18	18	44	(45)	7	10	6
2032	200	13.0%	10.0%	20	20	50	(57)	6	6	4
2033	221	10.5%	10.0%	22	22	55	(70)	6	2	1
2034	239	8.0%	10.0%	24	24	60	(83)	5	-4	-2
2035	252	5.5%	10.0%	25	25	63	(95)	4	-10	-4

Enterprise Value Bridge

Sum of PV(FCFF)-208

Terminal Value (Gordon Growth at 3.0%)0

PV of Terminal Value0

Enterprise Value-208

(–) Net Debt-230

Equity Value23

(÷) Shares Outstanding206

Fair Value per Share$0.11

Note:Terminal value is $0 because Year 5 FCFF is negative. The company's operating margin convergence does not fully offset reinvestment needs within 5 years. See the sensitivity matrix for scenarios where the model produces a positive terminal value (higher target margin or lower WACC).

Sensitivity Analysis — WACC × Target Operating Margin

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

Current price: $19.25. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 28.1% 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

$2.07

Market Price

$19.25

Upside / Downside

-89.3%

Verdict

Overvalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Navitas Semiconductor Corporation (NVTS) has a fair value of $2.07 based on 9 comparable companies in the Semiconductors industry.

EV/Revenue Valuation — Semiconductors

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Navitas Semiconductor CorporationNVTS	3,957	81.2x	44.2x
Applied Optoelectronics, Inc.AAOI	8,080	17.6x	32.2x
Diodes IncorporatedDIOD	3,415	2.1x	2.3x
Axcelis Technologies, Inc.ACLS	2,995	3.4x	2.6x
Synaptics IncorporatedSYNA	2,923	3.2x	3.2x
Power Integrations, Inc.POWI	2,855	6.3x	6.7x
ACM Research, Inc.ACMR	2,739	2.5x	2.0x
Vishay Intertechnology, Inc.VSH	2,547	1.0x	1.0x
Grindr Inc.GRND	2,216	5.8x	4.8x
Daqo New Energy Corp.DQ	1,399	0.6x	0.4x
Industry Median		3.2x	2.6x
(*) Revenue		46	84
= Enterprise Value		146	244
(-) Net Debt		-230	-230
Equity Value		376	475
(/) Outstanding shares		206	206
Fair Price		$2	$2

Selected Fair Value (avg of trailing + forward)

$2.07

-89.3%

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

—

N/A

—

Revenue DCF 10Y

$0.01 – $0.68

$0.11

-98.7%

▸ Trading Multiples

EV/Revenue

$1.59 – $2.41

$2.07

-76.6%

DCF Analysis

Navitas Semiconductor Corporation (NVTS) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$0.11

Market Price

$19.25

Upside / Downside

-99.4%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-190.0%

Target Operating Margin

10.0%

WACC

9.0%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

7.7%

Target CapEx/Rev

37.6%

D&A/Revenue

25.1%

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	38	-17.4%	-150.0%	-57	-57	10	(4)	16	-68	-65
2027	65	70.8%	-110.0%	-71	-71	16	(9)	8	-71	-63
2028	110	70.4%	-70.0%	-77	-77	28	(18)	13	-81	-65
2029	130	17.9%	-30.0%	-39	-39	33	(26)	6	-38	-28
2030	154	17.9%	10.0%	15	15	39	(35)	7	13	8
2031	177	15.4%	10.0%	18	18	44	(45)	7	10	6
2032	200	13.0%	10.0%	20	20	50	(57)	6	6	4
2033	221	10.5%	10.0%	22	22	55	(70)	6	2	1
2034	239	8.0%	10.0%	24	24	60	(83)	5	-4	-2
2035	252	5.5%	10.0%	25	25	63	(95)	4	-10	-4

Enterprise Value Bridge

Sum of PV(FCFF)-208

Terminal Value (Gordon Growth at 3.0%)0

PV of Terminal Value0

Enterprise Value-208

(–) Net Debt-230

Equity Value23

(÷) Shares Outstanding206

Fair Value per Share$0.11

Sensitivity Analysis — WACC × Target Operating Margin

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

Current price: $19.25. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 28.1% 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

$2.07

Market Price

$19.25

Upside / Downside

-89.3%

Verdict

Overvalued

EV/Revenue Valuation — Semiconductors

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Navitas Semiconductor CorporationNVTS	3,957	81.2x	44.2x
Applied Optoelectronics, Inc.AAOI	8,080	17.6x	32.2x
Diodes IncorporatedDIOD	3,415	2.1x	2.3x
Axcelis Technologies, Inc.ACLS	2,995	3.4x	2.6x
Synaptics IncorporatedSYNA	2,923	3.2x	3.2x
Power Integrations, Inc.POWI	2,855	6.3x	6.7x
ACM Research, Inc.ACMR	2,739	2.5x	2.0x
Vishay Intertechnology, Inc.VSH	2,547	1.0x	1.0x
Grindr Inc.GRND	2,216	5.8x	4.8x
Daqo New Energy Corp.DQ	1,399	0.6x	0.4x
Industry Median		3.2x	2.6x
(*) Revenue		46	84
= Enterprise Value		146	244
(-) Net Debt		-230	-230
Equity Value		376	475
(/) Outstanding shares		206	206
Fair Price		$2	$2

Selected Fair Value (avg of trailing + forward)

$2.07

-89.3%