Grove Collaborative Holdings, Inc.

GROV

Consumer DefensiveHousehold & Personal ProductsNYSE

$1.25

Market Cap: $52.54M

Grove Collaborative Holdings, Inc. (GROV) Valuation Summary

Updated Apr 20, 2026 22:15

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	$0.07 – $10.48	$1.48	+16.6%
Revenue DCF 10Y	$0.49 – $6.27	$0.84	-33.8%
▸ Trading Multiples
EV/Revenue	$1.49 – $19.03	$5.94	+367.7%

Valuation History

DCF Analysis

Grove Collaborative Holdings, Inc. (GROV) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$0.84

Market Price

$1.25

Upside / Downside

-32.8%

Verdict

Overvalued

Using a Revenue DCF model with operating margin convergence from -4.7% to a target of 7.6% over 5 years, discounted at a WACC of 6.8%, Grove Collaborative Holdings, Inc. (GROV) has an intrinsic value of $0.84 per share (range: $0.49 – $6.27).

Key Assumptions

Current Operating Margin

-4.7%

Target Operating Margin

7.6%

WACC

6.8%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1.1%

Target CapEx/Rev

6.0%

D&A/Revenue

2.2%

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	146	-16.1%	-2.2%	-3	-3	3	(2)	2	-4	-4
2027	156	6.8%	0.2%	0	0	3	(3)	1	-0	-0
2028	140	-10.0%	2.7%	4	3	3	(4)	-1	4	3
2029	126	-10.0%	5.1%	6	5	3	(4)	-1	5	4
2030	113	-10.0%	7.6%	9	7	3	(4)	-1	6	5
2031	102	-10.0%	7.6%	8	6	2	(4)	-1	5	4
2032	92	-10.0%	7.6%	7	6	2	(4)	-1	4	3
2033	85	-7.5%	7.6%	6	5	2	(4)	-1	3	2
2034	82	-4.0%	7.6%	6	5	2	(4)	-0	2	1
2035	81	-0.5%	7.6%	6	5	2	(5)	-0	2	1

Enterprise Value Bridge

Sum of PV(FCFF)18

Terminal Value (Gordon Growth at 3.0%)49

PV of Terminal Value26

Enterprise Value45

(–) Net Debt12

Equity Value33

(÷) Shares Outstanding39

Fair Value per Share$0.84

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	1.6%	4.6%	7.6%	10.6%	13.6%
4.8%	$-1	$-0	$2	$4	$6
5.8%	$-1	$-0	$1	$3	$4
6.8%	$-1	$-0	$1	$2	$3
7.8%	$-1	$-0	$1	$1	$2
8.8%	$-1	$-0	$0	$1	$2

Current price: $1.25. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 7.7% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Grove Collaborative Holdings, Inc. (GROV) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$1.48

Market Price

$1.25

Upside / Downside

+18.4%

Verdict

Undervalued

Key Assumptions

Current Operating Margin

-4.7%

Target Operating Margin

7.6%

WACC

6.8%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1.1%

Target CapEx/Rev

6.0%

D&A/Revenue

2.2%

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	146	-16.1%	-2.2%	-3	-3	3	(3)	2	-5	-5
2027	156	6.8%	0.2%	0	0	3	(5)	1	-2	-2
2028	140	-10.0%	2.7%	4	3	3	(6)	-1	2	1
2029	126	-10.0%	5.1%	6	5	3	(6)	-1	3	2
2030	113	-10.0%	7.6%	9	7	3	(7)	-1	3	3

Enterprise Value Bridge

Sum of PV(FCFF)-0

Terminal Value (Gordon Growth at 3.0%)94

PV of Terminal Value70

Enterprise Value70

(–) Net Debt12

Equity Value58

(÷) Shares Outstanding39

Fair Value per Share$1.48

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	1.6%	4.6%	7.6%	10.6%	13.6%
4.8%	$-1	$0	$4	$7	$10
5.8%	$-1	$0	$2	$4	$7
6.8%	$-1	$-0	$1	$3	$5
7.8%	$-1	$-0	$1	$2	$4
8.8%	$-1	$-0	$1	$2	$3

Current price: $1.25. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 7.7% 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

$5.94

Market Price

$1.25

Upside / Downside

+375.2%

Verdict

Undervalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Grove Collaborative Holdings, Inc. (GROV) has a fair value of $5.94 based on 7 comparable companies in the Household & Personal Products industry.

EV/Revenue Valuation — Household & Personal Products

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Grove Collaborative Holdings, Inc.GROV	49	0.3x	0.3x
Barfresh Food Group, Inc.BRFH	43	3.3x	5.3x
Local Bounti CorporationLOCL	42	11.9x	18.2x
Laird Superfood, Inc.LSF	34	0.6x	0.8x
Genius Group LimitedGNS	28	4.3x	2.1x
Farmer Bros. Co.FARM	27	0.2x	0.2x
Agape ATP CorporationATPC	3	0.6x	—
CIMG Inc.IMG	2	0.4x	1.3x
Industry Median		0.6x	1.7x
(*) Revenue		174	227
= Enterprise Value		111	377
(-) Net Debt		12	12
Equity Value		99	365
(/) Outstanding shares		39	39
Fair Price		$3	$9

Selected Fair Value (avg of trailing + forward)

$5.94

+375.2%

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

$0.07 – $10.48

$1.48

+16.6%

Revenue DCF 10Y

$0.49 – $6.27

$0.84

-33.8%

▸ Trading Multiples

EV/Revenue

$1.49 – $19.03

$5.94

+367.7%

DCF Analysis

Grove Collaborative Holdings, Inc. (GROV) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$0.84

Market Price

$1.25

Upside / Downside

-32.8%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-4.7%

Target Operating Margin

7.6%

WACC

6.8%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1.1%

Target CapEx/Rev

6.0%

D&A/Revenue

2.2%

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	146	-16.1%	-2.2%	-3	-3	3	(2)	2	-4	-4
2027	156	6.8%	0.2%	0	0	3	(3)	1	-0	-0
2028	140	-10.0%	2.7%	4	3	3	(4)	-1	4	3
2029	126	-10.0%	5.1%	6	5	3	(4)	-1	5	4
2030	113	-10.0%	7.6%	9	7	3	(4)	-1	6	5
2031	102	-10.0%	7.6%	8	6	2	(4)	-1	5	4
2032	92	-10.0%	7.6%	7	6	2	(4)	-1	4	3
2033	85	-7.5%	7.6%	6	5	2	(4)	-1	3	2
2034	82	-4.0%	7.6%	6	5	2	(4)	-0	2	1
2035	81	-0.5%	7.6%	6	5	2	(5)	-0	2	1

Enterprise Value Bridge

Sum of PV(FCFF)18

Terminal Value (Gordon Growth at 3.0%)49

PV of Terminal Value26

Enterprise Value45

(–) Net Debt12

Equity Value33

(÷) Shares Outstanding39

Fair Value per Share$0.84

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	1.6%	4.6%	7.6%	10.6%	13.6%
4.8%	$-1	$-0	$2	$4	$6
5.8%	$-1	$-0	$1	$3	$4
6.8%	$-1	$-0	$1	$2	$3
7.8%	$-1	$-0	$1	$1	$2
8.8%	$-1	$-0	$0	$1	$2

Current price: $1.25. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 7.7% 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

$5.94

Market Price

$1.25

Upside / Downside

+375.2%

Verdict

Undervalued

EV/Revenue Valuation — Household & Personal Products

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Grove Collaborative Holdings, Inc.GROV	49	0.3x	0.3x
Barfresh Food Group, Inc.BRFH	43	3.3x	5.3x
Local Bounti CorporationLOCL	42	11.9x	18.2x
Laird Superfood, Inc.LSF	34	0.6x	0.8x
Genius Group LimitedGNS	28	4.3x	2.1x
Farmer Bros. Co.FARM	27	0.2x	0.2x
Agape ATP CorporationATPC	3	0.6x	—
CIMG Inc.IMG	2	0.4x	1.3x
Industry Median		0.6x	1.7x
(*) Revenue		174	227
= Enterprise Value		111	377
(-) Net Debt		12	12
Equity Value		99	365
(/) Outstanding shares		39	39
Fair Price		$3	$9

Selected Fair Value (avg of trailing + forward)

$5.94

+375.2%