1stdibs.Com, Inc.

DIBS

Consumer CyclicalSpecialty RetailNASDAQ

$4.46

Market Cap: $162.26M

1stdibs.Com, Inc. (DIBS) Valuation Summary

Updated Apr 28, 2026 22:22

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	$0.11 – $4.88	$0.84	-83.5%
Revenue DCF 10Y	$0.10 – $4.68	$1.06	-79.1%
▸ Trading Multiples
EV/Revenue	$0.77 – $2.44	$1.33	-73.6%

Valuation History

DCF Analysis

1stdibs.Com, Inc. (DIBS) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$1.06

Market Price

$4.46

Upside / Downside

-76.2%

Verdict

Overvalued

Using a Revenue DCF model with operating margin convergence from -20.3% to a target of 7.7% over 5 years, discounted at a WACC of 8.0%, 1stdibs.Com, Inc. (DIBS) has an intrinsic value of $1.06 per share (range: $0.10 – $4.68).

Key Assumptions

Current Operating Margin

-20.3%

Target Operating Margin

7.7%

WACC

8.0%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1.6%

Target CapEx/Rev

7.9%

D&A/Revenue

5.3%

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)
2026	91	1.1%	-14.7%	-13	-13	5	(2)	-5	-5	-5
2027	92	1.7%	-9.1%	-8	-8	5	(3)	-0	-6	-5
2028	89	-3.4%	-3.5%	-3	-3	5	(3)	0	-2	-1
2029	86	-3.4%	2.1%	2	1	5	(4)	0	2	2
2030	83	-3.4%	7.7%	6	5	4	(4)	0	5	4
2031	81	-2.3%	7.7%	6	5	4	(4)	0	5	3
2032	80	-1.2%	7.7%	6	5	4	(5)	0	4	3
2033	80	-0.2%	7.7%	6	5	4	(5)	0	4	2
2034	81	0.9%	7.7%	6	5	4	(6)	-0	3	2
2035	82	1.9%	7.7%	6	5	4	(6)	-0	3	1

Enterprise Value Bridge

Sum of PV(FCFF)5

Terminal Value (Gordon Growth at 3.0%)61

PV of Terminal Value29

Enterprise Value34

(–) Net Debt-4

Equity Value38

(÷) Shares Outstanding36

Fair Value per Share$1.06

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	1.7%	4.7%	7.7%	10.7%	13.7%
6.0%	$-0	$1	$2	$3	$5
7.0%	$-0	$0	$1	$2	$3
8.0%	$-0	$0	$1	$2	$3
9.0%	$-0	$0	$1	$2	$2
10.0%	$-0	$0	$1	$1	$2

Current price: $4.46. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at -7.3% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

1stdibs.Com, Inc. (DIBS) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$0.84

Market Price

$4.46

Upside / Downside

-81.2%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-20.3%

Target Operating Margin

7.7%

WACC

8.0%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1.6%

Target CapEx/Rev

7.9%

D&A/Revenue

5.3%

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)
2026	91	1.1%	-14.7%	-13	-13	5	(3)	-5	-6	-6
2027	92	1.7%	-9.1%	-8	-8	5	(4)	-0	-7	-6
2028	89	-3.4%	-3.5%	-3	-3	5	(5)	0	-3	-3
2029	86	-3.4%	2.1%	2	1	5	(6)	0	0	0
2030	83	-3.4%	7.7%	6	5	4	(7)	0	3	2

Enterprise Value Bridge

Sum of PV(FCFF)-13

Terminal Value (Gordon Growth at 3.0%)55

PV of Terminal Value39

Enterprise Value26

(–) Net Debt-4

Equity Value30

(÷) Shares Outstanding36

Fair Value per Share$0.84

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	1.7%	4.7%	7.7%	10.7%	13.7%
6.0%	$-1	$0	$2	$3	$5
7.0%	$-1	$-0	$1	$2	$4
8.0%	$-1	$-0	$1	$2	$3
9.0%	$-1	$-0	$1	$1	$2
10.0%	$-1	$-0	$0	$1	$2

Current price: $4.46. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at -7.3% 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

$1.33

Market Price

$4.46

Upside / Downside

-70.1%

Verdict

Overvalued

Using the industry peer median EV/Revenue multiple (trailing + forward), 1stdibs.Com, Inc. (DIBS) has a fair value of $1.33 based on 9 comparable companies in the Specialty Retail industry.

EV/Revenue Valuation — Specialty Retail

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
1stdibs.Com, Inc.DIBS	161	1.7x	1.8x
Playboy, Inc.PLBY	162	2.6x	4.0x
China Automotive Systems, Inc.CAAS	134	0.3x	0.5x
Traeger, Inc.COOK	117	0.9x	1.1x
a.k.a. Brands Holding Corp.AKA	113	0.5x	0.5x
Clarus CorporationCLAR	104	0.3x	0.3x
BARK, Inc.BARK	80	0.1x	0.2x
Vroom, Inc.VRM	80	7.6x	0.4x
The Children's Place, Inc.PLCE	72	0.5x	0.4x
Texxon Holding Limited Ordinary sharesNPT	42	0.1x	—
Industry Median		0.5x	0.5x
(*) Revenue		90	86
= Enterprise Value		43	45
(-) Net Debt		-4	-4
Equity Value		47	49
(/) Outstanding shares		36	36
Fair Price		$1	$1

Selected Fair Value (avg of trailing + forward)

$1.33

-70.1%

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

$0.11 – $4.88

$0.84

-83.5%

Revenue DCF 10Y

$0.10 – $4.68

$1.06

-79.1%

▸ Trading Multiples

EV/Revenue

$0.77 – $2.44

$1.33

-73.6%

DCF Analysis

1stdibs.Com, Inc. (DIBS) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$1.06

Market Price

$4.46

Upside / Downside

-76.2%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-20.3%

Target Operating Margin

7.7%

WACC

8.0%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1.6%

Target CapEx/Rev

7.9%

D&A/Revenue

5.3%

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)
2026	91	1.1%	-14.7%	-13	-13	5	(2)	-5	-5	-5
2027	92	1.7%	-9.1%	-8	-8	5	(3)	-0	-6	-5
2028	89	-3.4%	-3.5%	-3	-3	5	(3)	0	-2	-1
2029	86	-3.4%	2.1%	2	1	5	(4)	0	2	2
2030	83	-3.4%	7.7%	6	5	4	(4)	0	5	4
2031	81	-2.3%	7.7%	6	5	4	(4)	0	5	3
2032	80	-1.2%	7.7%	6	5	4	(5)	0	4	3
2033	80	-0.2%	7.7%	6	5	4	(5)	0	4	2
2034	81	0.9%	7.7%	6	5	4	(6)	-0	3	2
2035	82	1.9%	7.7%	6	5	4	(6)	-0	3	1

Enterprise Value Bridge

Sum of PV(FCFF)5

Terminal Value (Gordon Growth at 3.0%)61

PV of Terminal Value29

Enterprise Value34

(–) Net Debt-4

Equity Value38

(÷) Shares Outstanding36

Fair Value per Share$1.06

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	1.7%	4.7%	7.7%	10.7%	13.7%
6.0%	$-0	$1	$2	$3	$5
7.0%	$-0	$0	$1	$2	$3
8.0%	$-0	$0	$1	$2	$3
9.0%	$-0	$0	$1	$2	$2
10.0%	$-0	$0	$1	$1	$2

Current price: $4.46. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at -7.3% 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

$1.33

Market Price

$4.46

Upside / Downside

-70.1%

Verdict

Overvalued

Using the industry peer median EV/Revenue multiple (trailing + forward), 1stdibs.Com, Inc. (DIBS) has a fair value of $1.33 based on 9 comparable companies in the Specialty Retail industry.

EV/Revenue Valuation — Specialty Retail

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
1stdibs.Com, Inc.DIBS	161	1.7x	1.8x
Playboy, Inc.PLBY	162	2.6x	4.0x
China Automotive Systems, Inc.CAAS	134	0.3x	0.5x
Traeger, Inc.COOK	117	0.9x	1.1x
a.k.a. Brands Holding Corp.AKA	113	0.5x	0.5x
Clarus CorporationCLAR	104	0.3x	0.3x
BARK, Inc.BARK	80	0.1x	0.2x
Vroom, Inc.VRM	80	7.6x	0.4x
The Children's Place, Inc.PLCE	72	0.5x	0.4x
Texxon Holding Limited Ordinary sharesNPT	42	0.1x	—
Industry Median		0.5x	0.5x
(*) Revenue		90	86
= Enterprise Value		43	45
(-) Net Debt		-4	-4
Equity Value		47	49
(/) Outstanding shares		36	36
Fair Price		$1	$1

Selected Fair Value (avg of trailing + forward)

$1.33

-70.1%