Valuation models
EV/Revenue · peers leads because DCF · Perpetuity growth · 5y could not lead: the cash-flow gate is shut (an operating loss, or three years of free cash flow summing below zero); P/E · peers does not describe this kind of business; EV/EBITDA · peers could not run on the filed statements. How the headline model is chosen. The price is 1030% above the model value: the models see only the filed business, and a company priced on businesses with no revenue line yet is better taken apart, as Tesla is.
EV/Revenue · peers leads because DCF · Perpetuity growth · 5y could not lead: the cash-flow gate is shut (an operating loss, or three years of free cash flow summing below zero); P/E · peers does not describe this kind of business; EV/EBITDA · peers could not run on the filed statements. From its peers' median EV/Revenue.
How it is valued
Model estimates for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; how each model works is in the manual.