Silvaco Group, Inc. Common Stock

SVCO

TechnologySoftware - ApplicationNASDAQ

$11.13

Market Cap: $363.74M

Silvaco Group, Inc. Common Stock (SVCO) Valuation Summary

Updated Apr 21, 2026 22:14

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	—	N/A	—
Revenue DCF 10Y	$0.12 – $3.93	$0.33	-96.3%
▸ Trading Multiples
EV/Revenue	$1.97 – $14.68	$5.01	-42.7%

Valuation History

DCF Analysis

Silvaco Group, Inc. Common Stock (SVCO) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$0.33

Market Price

$11.13

Upside / Downside

-97.0%

Verdict

Overvalued

Using a Revenue DCF model with operating margin convergence from -21.7% to a target of 10.0% over 5 years, discounted at a WACC of 9.1%, Silvaco Group, Inc. Common Stock (SVCO) has an intrinsic value of $0.33 per share (range: $0.12 – $3.93).

Key Assumptions

Current Operating Margin

-21.7%

Target Operating Margin

10.0%

WACC

9.1%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

0.6%

Target CapEx/Rev

6.0%

D&A/Revenue

2.5%

Tax Rate

40.0%

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	70	10.9%	-15.3%	-11	-11	2	(1)	-1	-9	-9
2027	78	11.4%	-9.0%	-7	-7	2	(1)	2	-8	-7
2028	86	10.7%	-2.7%	-2	-2	2	(2)	2	-4	-3
2029	95	10.7%	3.6%	3	2	2	(3)	3	-1	-0
2030	106	10.7%	10.0%	11	6	3	(3)	3	3	2
2031	116	9.4%	10.0%	12	7	3	(4)	3	3	2
2032	125	8.2%	10.0%	12	7	3	(5)	3	3	2
2033	134	6.9%	10.0%	13	8	3	(7)	2	3	1
2034	141	5.6%	10.0%	14	8	4	(8)	2	2	1
2035	147	4.3%	10.0%	15	9	4	(9)	2	2	1

Enterprise Value Bridge

Sum of PV(FCFF)-12

Terminal Value (Gordon Growth at 3.0%)35

PV of Terminal Value16

Enterprise Value4

(–) Net Debt-6

Equity Value10

(÷) Shares Outstanding30

Fair Value per Share$0.33

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	4.0%	7.0%	10.0%	13.0%	16.0%
7.1%	$-1	$-1	$1	$2	$4
8.1%	$-1	$-1	$1	$2	$3
9.1%	$-1	$-1	$0	$1	$2
10.1%	$-1	$-1	$0	$1	$2
11.1%	$-1	$-1	$0	$1	$2

Current price: $11.13. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 27.1% 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

$5.01

Market Price

$11.13

Upside / Downside

-55.0%

Verdict

Overvalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Silvaco Group, Inc. Common Stock (SVCO) has a fair value of $5.01 based on 7 comparable companies in the Software - Application industry.

EV/Revenue Valuation — Software - Application

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Silvaco Group, Inc. Common StockSVCO	331	5.2x	5.8x
TROOPS, Inc.TROO	292	28.5x	—
Marti Technologies, Inc.MRT	189	6.8x	16.1x
Duos Technologies Group, Inc.DUOT	176	5.9x	10.3x
Valens Semiconductor Ltd.VLN	158	2.0x	2.1x
Waldencast plcWALD	110	0.8x	0.9x
AudioEye, Inc.AEYE	86	2.3x	2.9x
Expensify, Inc.EXFY	77	0.1x	0.1x
Industry Median		2.3x	2.5x
(*) Revenue		63	56
= Enterprise Value		147	139
(-) Net Debt		-6	-6
Equity Value		153	145
(/) Outstanding shares		30	30
Fair Price		$5	$5

Selected Fair Value (avg of trailing + forward)

$5.01

-55.0%

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

—

N/A

—

Revenue DCF 10Y

$0.12 – $3.93

$0.33

-96.3%

▸ Trading Multiples

EV/Revenue

$1.97 – $14.68

$5.01

-42.7%

DCF Analysis

Silvaco Group, Inc. Common Stock (SVCO) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$0.33

Market Price

$11.13

Upside / Downside

-97.0%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-21.7%

Target Operating Margin

10.0%

WACC

9.1%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

0.6%

Target CapEx/Rev

6.0%

D&A/Revenue

2.5%

Tax Rate

40.0%

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	70	10.9%	-15.3%	-11	-11	2	(1)	-1	-9	-9
2027	78	11.4%	-9.0%	-7	-7	2	(1)	2	-8	-7
2028	86	10.7%	-2.7%	-2	-2	2	(2)	2	-4	-3
2029	95	10.7%	3.6%	3	2	2	(3)	3	-1	-0
2030	106	10.7%	10.0%	11	6	3	(3)	3	3	2
2031	116	9.4%	10.0%	12	7	3	(4)	3	3	2
2032	125	8.2%	10.0%	12	7	3	(5)	3	3	2
2033	134	6.9%	10.0%	13	8	3	(7)	2	3	1
2034	141	5.6%	10.0%	14	8	4	(8)	2	2	1
2035	147	4.3%	10.0%	15	9	4	(9)	2	2	1

Enterprise Value Bridge

Sum of PV(FCFF)-12

Terminal Value (Gordon Growth at 3.0%)35

PV of Terminal Value16

Enterprise Value4

(–) Net Debt-6

Equity Value10

(÷) Shares Outstanding30

Fair Value per Share$0.33

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	4.0%	7.0%	10.0%	13.0%	16.0%
7.1%	$-1	$-1	$1	$2	$4
8.1%	$-1	$-1	$1	$2	$3
9.1%	$-1	$-1	$0	$1	$2
10.1%	$-1	$-1	$0	$1	$2
11.1%	$-1	$-1	$0	$1	$2

Current price: $11.13. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 27.1% 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

$5.01

Market Price

$11.13

Upside / Downside

-55.0%

Verdict

Overvalued

EV/Revenue Valuation — Software - Application

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Silvaco Group, Inc. Common StockSVCO	331	5.2x	5.8x
TROOPS, Inc.TROO	292	28.5x	—
Marti Technologies, Inc.MRT	189	6.8x	16.1x
Duos Technologies Group, Inc.DUOT	176	5.9x	10.3x
Valens Semiconductor Ltd.VLN	158	2.0x	2.1x
Waldencast plcWALD	110	0.8x	0.9x
AudioEye, Inc.AEYE	86	2.3x	2.9x
Expensify, Inc.EXFY	77	0.1x	0.1x
Industry Median		2.3x	2.5x
(*) Revenue		63	56
= Enterprise Value		147	139
(-) Net Debt		-6	-6
Equity Value		153	145
(/) Outstanding shares		30	30
Fair Price		$5	$5

Selected Fair Value (avg of trailing + forward)

$5.01

-55.0%