Brag House Holdings, Inc.

TBH

TechnologyElectronic Gaming & MultimediaNASDAQ

$0.65

Market Cap: $7.04M

Brag House Holdings, Inc. (TBH) Valuation Summary

Updated Apr 8, 2026 22:21

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	$2,018,077.31 – $2,545,448.02	$2,299,831.96	+547578937.1%
Revenue DCF 10Y	$23,466,908.36 – $24,530,423.41	$24,014,831.10	+5717816828.6%

Valuation History

DCF Analysis

Brag House Holdings, Inc. (TBH) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$24,014,831.10

Market Price

$0.65

Upside / Downside

+3694589300.0%

Verdict

Undervalued

Using a Revenue DCF model with operating margin convergence from -1420637.1% to a target of 9.9% over 5 years, discounted at a WACC of 12.1%, Brag House Holdings, Inc. (TBH) has an intrinsic value of $24,014,831.10 per share (range: $23,466,908.36 – $24,530,423.41).

Key Assumptions

Current Operating Margin

-1420637.1%

Target Operating Margin

9.9%

WACC

12.1%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

8.0%

Target CapEx/Rev

14465428571.4%

D&A/Revenue

9643619047.6%

Tax Rate

21.0%

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)
2025	0	142757.1%	-1136507.7%	-1,705	-1,705	14,465,429	(2,169,814)	-540	12,294,449	11,613,203
2026	2	1400.0%	-852378.3%	-19,179	-19,179	216,981,429	(65,094,429)	-7,581	151,875,403	128,001,851
2027	2	-10.0%	-568248.9%	-11,507	-11,507	195,283,286	(87,877,479)	812	107,393,488	80,759,315
2028	2	-10.0%	-284119.5%	-5,178	-5,178	175,754,957	(105,452,974)	731	70,296,074	47,166,280
2029	2	-10.0%	9.9%	0	0	158,179,461	(118,634,596)	658	39,544,207	23,673,872
2030	1	-10.0%	9.9%	0	0	142,361,515	(128,125,364)	592	14,235,559	7,604,083
2031	1	-10.0%	9.9%	0	0	128,125,364	(134,531,632)	533	-6,406,801	-3,053,510
2032	1	-8.5%	9.9%	0	0	117,187,353	(140,624,823)	409	-23,437,880	-9,966,952
2033	1	-4.7%	9.9%	0	0	111,689,735	(150,781,142)	206	-39,091,613	-14,832,471
2034	1	-0.9%	9.9%	0	0	110,745,227	(166,117,840)	35	-55,372,649	-18,746,107

Enterprise Value Bridge

Sum of PV(FCFF)252,219,564

Terminal Value (Gordon Growth at 3.0%)0

PV of Terminal Value0

Enterprise Value252,219,564

(–) Net Debt6

Equity Value252,219,558

(÷) Shares Outstanding11

Fair Value per Share$24,014,831.10

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	3.9%	6.9%	9.9%	12.9%	15.9%
10.1%	$24530423	$24530423	$24530423	$24530423	$24530423
11.1%	$24277600	$24277600	$24277600	$24277600	$24277600
12.1%	$24014831	$24014831	$24014831	$24014831	$24014831
13.1%	$23744038	$23744039	$23744039	$23744039	$23744039
14.1%	$23466908	$23466908	$23466908	$23466908	$23466908

Current price: $0.65. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at -361012.0% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Brag House Holdings, Inc. (TBH) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$2,299,831.96

Market Price

$0.65

Upside / Downside

+353820201.5%

Verdict

Undervalued

Using a Revenue DCF model with operating margin convergence from -1420637.1% to a target of 9.9% over 5 years, discounted at a WACC of 12.1%, Brag House Holdings, Inc. (TBH) has an intrinsic value of $2,299,831.96 per share (range: $2,018,077.31 – $2,545,448.02).

Key Assumptions

Current Operating Margin

-1420637.1%

Target Operating Margin

9.9%

WACC

12.1%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

8.0%

Target CapEx/Rev

14465428571.4%

D&A/Revenue

9643619047.6%

Tax Rate

21.0%

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)
2025	0	142757.1%	-1136507.7%	-1,705	-1,705	14,465,429	(4,339,629)	-540	10,124,635	9,563,620
2026	2	1400.0%	-852378.3%	-19,179	-19,179	216,981,429	(130,188,857)	-7,581	86,780,974	73,139,726
2027	2	-10.0%	-568248.9%	-11,507	-11,507	195,283,286	(175,754,957)	812	19,516,009	14,675,932
2028	2	-10.0%	-284119.5%	-5,178	-5,178	175,754,957	(210,905,949)	731	-35,156,901	-23,589,087
2029	2	-5.7%	9.9%	0	0	165,820,022	(248,730,032)	372	-82,910,383	-49,635,836

Enterprise Value Bridge

Sum of PV(FCFF)24,154,355

Terminal Value (Gordon Growth at 3.0%)0

PV of Terminal Value0

Enterprise Value24,154,355

(–) Net Debt6

Equity Value24,154,348

(÷) Shares Outstanding11

Fair Value per Share$2,299,831.96

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	3.9%	6.9%	9.9%	12.9%	15.9%
10.1%	$2018077	$2018077	$2018077	$2018077	$2018077
11.1%	$2163764	$2163764	$2163764	$2163764	$2163764
12.1%	$2299832	$2299832	$2299832	$2299832	$2299832
13.1%	$2426875	$2426875	$2426875	$2426875	$2426875
14.1%	$2545448	$2545448	$2545448	$2545448	$2545448

Current price: $0.65. Green = undervalued, Red = overvalued.

Working Capital Assumption

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.

Brag House Holdings, Inc. (TBH) Valuation Summary

Updated Apr 8, 2026 22:21

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	$2,018,077.31 – $2,545,448.02	$2,299,831.96	+547578937.1%
Revenue DCF 10Y	$23,466,908.36 – $24,530,423.41	$24,014,831.10	+5717816828.6%

Valuation History

DCF Analysis

Brag House Holdings, Inc. (TBH) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$24,014,831.10

Market Price

$0.65

Upside / Downside

+3694589300.0%

Verdict

Undervalued

Key Assumptions

Current Operating Margin

-1420637.1%

Target Operating Margin

9.9%

WACC

12.1%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

8.0%

Target CapEx/Rev

14465428571.4%

D&A/Revenue

9643619047.6%

Tax Rate

21.0%

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)
2025	0	142757.1%	-1136507.7%	-1,705	-1,705	14,465,429	(2,169,814)	-540	12,294,449	11,613,203
2026	2	1400.0%	-852378.3%	-19,179	-19,179	216,981,429	(65,094,429)	-7,581	151,875,403	128,001,851
2027	2	-10.0%	-568248.9%	-11,507	-11,507	195,283,286	(87,877,479)	812	107,393,488	80,759,315
2028	2	-10.0%	-284119.5%	-5,178	-5,178	175,754,957	(105,452,974)	731	70,296,074	47,166,280
2029	2	-10.0%	9.9%	0	0	158,179,461	(118,634,596)	658	39,544,207	23,673,872
2030	1	-10.0%	9.9%	0	0	142,361,515	(128,125,364)	592	14,235,559	7,604,083
2031	1	-10.0%	9.9%	0	0	128,125,364	(134,531,632)	533	-6,406,801	-3,053,510
2032	1	-8.5%	9.9%	0	0	117,187,353	(140,624,823)	409	-23,437,880	-9,966,952
2033	1	-4.7%	9.9%	0	0	111,689,735	(150,781,142)	206	-39,091,613	-14,832,471
2034	1	-0.9%	9.9%	0	0	110,745,227	(166,117,840)	35	-55,372,649	-18,746,107

Enterprise Value Bridge

Sum of PV(FCFF)252,219,564

Terminal Value (Gordon Growth at 3.0%)0

PV of Terminal Value0

Enterprise Value252,219,564

(–) Net Debt6

Equity Value252,219,558

(÷) Shares Outstanding11

Fair Value per Share$24,014,831.10

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	3.9%	6.9%	9.9%	12.9%	15.9%
10.1%	$24530423	$24530423	$24530423	$24530423	$24530423
11.1%	$24277600	$24277600	$24277600	$24277600	$24277600
12.1%	$24014831	$24014831	$24014831	$24014831	$24014831
13.1%	$23744038	$23744039	$23744039	$23744039	$23744039
14.1%	$23466908	$23466908	$23466908	$23466908	$23466908

Current price: $0.65. Green = undervalued, Red = overvalued.

Working Capital Assumption

Brag House Holdings, Inc. (TBH) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$2,299,831.96

Market Price

$0.65

Upside / Downside

+353820201.5%

Verdict

Undervalued

Using a Revenue DCF model with operating margin convergence from -1420637.1% to a target of 9.9% over 5 years, discounted at a WACC of 12.1%, Brag House Holdings, Inc. (TBH) has an intrinsic value of $2,299,831.96 per share (range: $2,018,077.31 – $2,545,448.02).

Key Assumptions

Current Operating Margin

-1420637.1%

Target Operating Margin

9.9%

WACC

12.1%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

8.0%

Target CapEx/Rev

14465428571.4%

D&A/Revenue

9643619047.6%

Tax Rate

21.0%

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)
2025	0	142757.1%	-1136507.7%	-1,705	-1,705	14,465,429	(4,339,629)	-540	10,124,635	9,563,620
2026	2	1400.0%	-852378.3%	-19,179	-19,179	216,981,429	(130,188,857)	-7,581	86,780,974	73,139,726
2027	2	-10.0%	-568248.9%	-11,507	-11,507	195,283,286	(175,754,957)	812	19,516,009	14,675,932
2028	2	-10.0%	-284119.5%	-5,178	-5,178	175,754,957	(210,905,949)	731	-35,156,901	-23,589,087
2029	2	-5.7%	9.9%	0	0	165,820,022	(248,730,032)	372	-82,910,383	-49,635,836

Enterprise Value Bridge

Sum of PV(FCFF)24,154,355

Terminal Value (Gordon Growth at 3.0%)0

PV of Terminal Value0

Enterprise Value24,154,355

(–) Net Debt6

Equity Value24,154,348

(÷) Shares Outstanding11

Fair Value per Share$2,299,831.96

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	3.9%	6.9%	9.9%	12.9%	15.9%
10.1%	$2018077	$2018077	$2018077	$2018077	$2018077
11.1%	$2163764	$2163764	$2163764	$2163764	$2163764
12.1%	$2299832	$2299832	$2299832	$2299832	$2299832
13.1%	$2426875	$2426875	$2426875	$2426875	$2426875
14.1%	$2545448	$2545448	$2545448	$2545448	$2545448

Current price: $0.65. Green = undervalued, Red = overvalued.