STAAR Surgical Company

STAA

HealthcareMedical - Instruments & SuppliesNASDAQ

$27.28

Market Cap: $1.35B

STAAR Surgical Company (STAA) Valuation Summary

Updated May 11, 2026 02:44

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	$0.21 – $13.13	$2.13	-92.2%
Revenue DCF 10Y	$0.71 – $23.17	$7.64	-72.0%
▸ Trading Multiples
EV/Revenue	$18.96 – $85.94	$40.11	+47.0%

Valuation History

DCF Analysis

STAAR Surgical Company (STAA) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$7.64

Market Price

$27.28

Upside / Downside

-72.0%

Verdict

Overvalued

Using a Revenue DCF model with operating margin convergence from -19.2% to a target of 13.3% over 5 years, discounted at a WACC of 8.5%, STAAR Surgical Company (STAA) has an intrinsic value of $7.64 per share (range: $0.71 – $23.17).

Key Assumptions

Current Operating Margin

-19.2%

Target Operating Margin

13.3%

WACC

8.5%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

5.6%

Target CapEx/Rev

6.0%

D&A/Revenue

2.1%

Tax Rate

20.6%

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	242	1.0%	-12.7%	-31	-31	5	(14)	-19	-20	-19
2027	307	27.0%	-6.2%	-19	-19	6	(17)	21	-51	-45
2028	333	8.4%	0.3%	1	1	7	(19)	8	-20	-16
2029	360	8.2%	6.8%	25	20	8	(21)	9	-2	-2
2030	432	19.9%	13.3%	58	46	9	(25)	23	6	4
2031	489	13.4%	13.3%	65	52	10	(29)	19	15	9
2032	497	1.6%	13.3%	66	53	10	(29)	3	31	18
2033	507	2.0%	13.3%	68	54	11	(30)	3	31	17
2034	519	2.3%	13.3%	69	55	11	(31)	4	31	15
2035	533	2.7%	13.3%	71	56	11	(32)	5	31	14

Enterprise Value Bridge

Sum of PV(FCFF)-3

Terminal Value (Gordon Growth at 3.0%)580

PV of Terminal Value267

Enterprise Value264

(–) Net Debt-115

Equity Value378

(÷) Shares Outstanding50

Fair Value per Share$7.64

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.3%	10.3%	13.3%	16.3%	19.3%
6.5%	$2	$7	$13	$18	$23
7.5%	$1	$5	$10	$14	$18
8.5%	$1	$4	$8	$11	$14
9.5%	$1	$4	$6	$9	$12
10.5%	$1	$3	$5	$8	$10

Current price: $27.28. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 32.7% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

STAAR Surgical Company (STAA) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$2.13

Market Price

$27.28

Upside / Downside

-92.2%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-19.2%

Target Operating Margin

13.3%

WACC

8.5%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

5.6%

Target CapEx/Rev

6.0%

D&A/Revenue

2.1%

Tax Rate

20.6%

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	242	1.0%	-12.7%	-31	-31	5	(14)	-19	-20	-19
2027	307	27.0%	-6.2%	-19	-19	6	(18)	21	-52	-46
2028	333	8.4%	0.3%	1	1	7	(19)	8	-20	-16
2029	360	8.2%	6.8%	25	20	8	(21)	9	-3	-2
2030	432	19.9%	13.3%	58	46	9	(26)	23	5	4

Enterprise Value Bridge

Sum of PV(FCFF)-79

Terminal Value (Gordon Growth at 3.0%)102

PV of Terminal Value70

Enterprise Value-9

(–) Net Debt-115

Equity Value106

(÷) Shares Outstanding50

Fair Value per Share$2.13

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.3%	10.3%	13.3%	16.3%	19.3%
6.5%	$-0	$0	$3	$8	$13
7.5%	$-0	$0	$3	$6	$10
8.5%	$-0	$0	$2	$5	$8
9.5%	$-0	$0	$2	$4	$7
10.5%	$-0	$0	$2	$4	$6

Current price: $27.28. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 32.7% 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

$40.11

Market Price

$27.28

Upside / Downside

+47.0%

Verdict

Undervalued

Using the industry peer median EV/Revenue multiple (trailing + forward), STAAR Surgical Company (STAA) has a fair value of $40.11 based on 6 comparable companies in the Medical - Instruments & Supplies industry.

EV/Revenue Valuation — Medical - Instruments & Supplies

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
STAAR Surgical CompanySTAA	1,352	5.2x	4.0x
NovoCure LimitedNVCR	2,072	3.4x	3.2x
Precigen, Inc.PGEN	1,247	126.2x	10.6x
Kestra Medical Technologies, Ltd.KMTS	1,229	17.3x	17.8x
BioLife Solutions, Inc.BLFS	1,077	11.0x	9.4x
Azenta, Inc.AZTA	885	1.2x	1.2x
Beta Bionics, Inc.BBNX	430	4.1x	3.1x
Industry Median		7.6x	6.3x
(*) Revenue		239	307
= Enterprise Value		1,812	1,935
(-) Net Debt		-115	-115
Equity Value		1,927	2,050
(/) Outstanding shares		50	50
Fair Price		$39	$41

Selected Fair Value (avg of trailing + forward)

$40.11

+47.0%

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

$0.21 – $13.13

$2.13

-92.2%

Revenue DCF 10Y

$0.71 – $23.17

$7.64

-72.0%

▸ Trading Multiples

EV/Revenue

$18.96 – $85.94

$40.11

+47.0%

DCF Analysis

STAAR Surgical Company (STAA) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$7.64

Market Price

$27.28

Upside / Downside

-72.0%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-19.2%

Target Operating Margin

13.3%

WACC

8.5%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

5.6%

Target CapEx/Rev

6.0%

D&A/Revenue

2.1%

Tax Rate

20.6%

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	242	1.0%	-12.7%	-31	-31	5	(14)	-19	-20	-19
2027	307	27.0%	-6.2%	-19	-19	6	(17)	21	-51	-45
2028	333	8.4%	0.3%	1	1	7	(19)	8	-20	-16
2029	360	8.2%	6.8%	25	20	8	(21)	9	-2	-2
2030	432	19.9%	13.3%	58	46	9	(25)	23	6	4
2031	489	13.4%	13.3%	65	52	10	(29)	19	15	9
2032	497	1.6%	13.3%	66	53	10	(29)	3	31	18
2033	507	2.0%	13.3%	68	54	11	(30)	3	31	17
2034	519	2.3%	13.3%	69	55	11	(31)	4	31	15
2035	533	2.7%	13.3%	71	56	11	(32)	5	31	14

Enterprise Value Bridge

Sum of PV(FCFF)-3

Terminal Value (Gordon Growth at 3.0%)580

PV of Terminal Value267

Enterprise Value264

(–) Net Debt-115

Equity Value378

(÷) Shares Outstanding50

Fair Value per Share$7.64

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.3%	10.3%	13.3%	16.3%	19.3%
6.5%	$2	$7	$13	$18	$23
7.5%	$1	$5	$10	$14	$18
8.5%	$1	$4	$8	$11	$14
9.5%	$1	$4	$6	$9	$12
10.5%	$1	$3	$5	$8	$10

Current price: $27.28. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 32.7% 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

$40.11

Market Price

$27.28

Upside / Downside

+47.0%

Verdict

Undervalued

EV/Revenue Valuation — Medical - Instruments & Supplies

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
STAAR Surgical CompanySTAA	1,352	5.2x	4.0x
NovoCure LimitedNVCR	2,072	3.4x	3.2x
Precigen, Inc.PGEN	1,247	126.2x	10.6x
Kestra Medical Technologies, Ltd.KMTS	1,229	17.3x	17.8x
BioLife Solutions, Inc.BLFS	1,077	11.0x	9.4x
Azenta, Inc.AZTA	885	1.2x	1.2x
Beta Bionics, Inc.BBNX	430	4.1x	3.1x
Industry Median		7.6x	6.3x
(*) Revenue		239	307
= Enterprise Value		1,812	1,935
(-) Net Debt		-115	-115
Equity Value		1,927	2,050
(/) Outstanding shares		50	50
Fair Price		$39	$41

Selected Fair Value (avg of trailing + forward)

$40.11

+47.0%