GSI Technology, Inc.

GSIT

TechnologySemiconductorsNASDAQ

$11.72

Market Cap: $341.99M

GSI Technology, Inc. (GSIT) Valuation Summary

Updated Apr 6, 2026 22:26

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	$1.10 – $5.63	$2.57	-52.6%
Revenue DCF 10Y	$0.08 – $2.34	$0.43	-92.2%
▸ Trading Multiples
EV/Revenue	$1.88 – $9.92	$4.62	-14.9%

Valuation History

DCF Analysis

GSI Technology, Inc. (GSIT) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$0.43

Market Price

$11.72

Upside / Downside

-96.3%

Verdict

Overvalued

Using a Revenue DCF model with operating margin convergence from -52.8% to a target of 10.0% over 5 years, discounted at a WACC of 8.9%, GSI Technology, Inc. (GSIT) has an intrinsic value of $0.43 per share (range: $0.08 – $2.34).

Key Assumptions

Current Operating Margin

-52.8%

Target Operating Margin

10.0%

WACC

8.9%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1.5%

Target CapEx/Rev

6.0%

D&A/Revenue

3.7%

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	19	-7.2%	-40.3%	-8	-8	1	(0)	-1	-6	-6
2027	18	-7.2%	-27.7%	-5	-5	1	(0)	-0	-4	-4
2028	16	-7.2%	-15.1%	-2	-2	1	(0)	-0	-2	-2
2029	44	167.6%	-2.6%	-1	-1	2	(1)	8	-9	-7
2030	27	-37.7%	10.0%	3	2	1	(1)	-5	7	5
2031	33	20.9%	10.0%	3	3	1	(1)	2	1	0
2032	39	19.3%	10.0%	4	3	1	(2)	2	1	0
2033	39	0.0%	10.0%	4	3	1	(2)	0	3	1
2034	39	-0.4%	10.0%	4	3	1	(2)	-0	2	1
2035	40	1.3%	10.0%	4	3	1	(2)	0	2	1

Enterprise Value Bridge

Sum of PV(FCFF)-9

Terminal Value (Gordon Growth at 3.0%)36

PV of Terminal Value16

Enterprise Value7

(–) Net Debt-4

Equity Value11

(÷) Shares Outstanding26

Fair Value per Share$0.43

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	4.0%	7.0%	10.0%	13.0%	16.0%
6.9%	$-0	$0	$1	$2	$2
7.9%	$-0	$0	$1	$1	$2
8.9%	$-0	$-0	$0	$1	$1
9.9%	$-0	$-0	$0	$1	$1
10.9%	$-0	$-0	$0	$1	$1

Current price: $11.72. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 29.8% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

GSI Technology, Inc. (GSIT) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$2.57

Market Price

$11.72

Upside / Downside

-78.1%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-52.8%

Target Operating Margin

10.0%

WACC

8.9%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1.5%

Target CapEx/Rev

6.0%

D&A/Revenue

3.7%

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	19	-7.2%	-40.3%	-8	-8	1	(0)	-1	-6	-6
2027	18	-7.2%	-27.7%	-5	-5	1	(1)	-0	-4	-4
2028	16	-7.2%	-15.1%	-2	-2	1	(1)	-0	-2	-2
2029	44	167.6%	-2.6%	-1	-1	2	(2)	8	-10	-7
2030	27	-37.7%	10.0%	3	2	1	(2)	-5	6	4

Enterprise Value Bridge

Sum of PV(FCFF)-15

Terminal Value (Gordon Growth at 3.0%)112

PV of Terminal Value77

Enterprise Value62

(–) Net Debt-4

Equity Value66

(÷) Shares Outstanding26

Fair Value per Share$2.57

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	4.0%	7.0%	10.0%	13.0%	16.0%
6.9%	$3	$4	$5	$5	$6
7.9%	$2	$3	$3	$4	$4
8.9%	$2	$2	$3	$3	$3
9.9%	$1	$2	$2	$2	$3
10.9%	$1	$1	$2	$2	$2

Current price: $11.72. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 29.8% 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

$6.35

Market Price

$11.72

Upside / Downside

-45.9%

Verdict

Overvalued

Using the industry peer median EV/Revenue multiple (trailing + forward), GSI Technology, Inc. (GSIT) has a fair value of $6.35 based on 9 comparable companies in the Semiconductors industry.

EV/Revenue Valuation — Semiconductors

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
GSI Technology, Inc.GSIT	373	12.2x	6.0x
NVE CorporationNVEC	340	12.9x	9.4x
PaySign, Inc.PAYS	327	3.9x	6.4x
BK Technologies CorporationBKTI	297	3.2x	3.7x
Xperi Inc.XPER	273	0.5x	0.5x
Everspin Technologies, Inc.MRAM	220	3.3x	3.7x
Aeluma, Inc.ALMU	166	35.1x	35.9x
Digi Power X Inc.DGXX	152	2.2x	3.0x
ALT5 Sigma CorporationALTS	147	12.2x	6.8x
GoPro, Inc.GPRO	128	0.2x	0.2x
Industry Median		3.3x	3.7x
(*) Revenue		25	51
= Enterprise Value		83	187
(-) Net Debt		-67	-67
Equity Value		150	254
(/) Outstanding shares		32	32
Fair Price		$5	$8

Selected Fair Value (avg of trailing + forward)

$6.35

-45.9%

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

$1.10 – $5.63

$2.57

-52.6%

Revenue DCF 10Y

$0.08 – $2.34

$0.43

-92.2%

▸ Trading Multiples

EV/Revenue

$1.88 – $9.92

$4.62

-14.9%

DCF Analysis

GSI Technology, Inc. (GSIT) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$0.43

Market Price

$11.72

Upside / Downside

-96.3%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-52.8%

Target Operating Margin

10.0%

WACC

8.9%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1.5%

Target CapEx/Rev

6.0%

D&A/Revenue

3.7%

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	19	-7.2%	-40.3%	-8	-8	1	(0)	-1	-6	-6
2027	18	-7.2%	-27.7%	-5	-5	1	(0)	-0	-4	-4
2028	16	-7.2%	-15.1%	-2	-2	1	(0)	-0	-2	-2
2029	44	167.6%	-2.6%	-1	-1	2	(1)	8	-9	-7
2030	27	-37.7%	10.0%	3	2	1	(1)	-5	7	5
2031	33	20.9%	10.0%	3	3	1	(1)	2	1	0
2032	39	19.3%	10.0%	4	3	1	(2)	2	1	0
2033	39	0.0%	10.0%	4	3	1	(2)	0	3	1
2034	39	-0.4%	10.0%	4	3	1	(2)	-0	2	1
2035	40	1.3%	10.0%	4	3	1	(2)	0	2	1

Enterprise Value Bridge

Sum of PV(FCFF)-9

Terminal Value (Gordon Growth at 3.0%)36

PV of Terminal Value16

Enterprise Value7

(–) Net Debt-4

Equity Value11

(÷) Shares Outstanding26

Fair Value per Share$0.43

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	4.0%	7.0%	10.0%	13.0%	16.0%
6.9%	$-0	$0	$1	$2	$2
7.9%	$-0	$0	$1	$1	$2
8.9%	$-0	$-0	$0	$1	$1
9.9%	$-0	$-0	$0	$1	$1
10.9%	$-0	$-0	$0	$1	$1

Current price: $11.72. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 29.8% 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

$6.35

Market Price

$11.72

Upside / Downside

-45.9%

Verdict

Overvalued

Using the industry peer median EV/Revenue multiple (trailing + forward), GSI Technology, Inc. (GSIT) has a fair value of $6.35 based on 9 comparable companies in the Semiconductors industry.

EV/Revenue Valuation — Semiconductors

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
GSI Technology, Inc.GSIT	373	12.2x	6.0x
NVE CorporationNVEC	340	12.9x	9.4x
PaySign, Inc.PAYS	327	3.9x	6.4x
BK Technologies CorporationBKTI	297	3.2x	3.7x
Xperi Inc.XPER	273	0.5x	0.5x
Everspin Technologies, Inc.MRAM	220	3.3x	3.7x
Aeluma, Inc.ALMU	166	35.1x	35.9x
Digi Power X Inc.DGXX	152	2.2x	3.0x
ALT5 Sigma CorporationALTS	147	12.2x	6.8x
GoPro, Inc.GPRO	128	0.2x	0.2x
Industry Median		3.3x	3.7x
(*) Revenue		25	51
= Enterprise Value		83	187
(-) Net Debt		-67	-67
Equity Value		150	254
(/) Outstanding shares		32	32
Fair Price		$5	$8

Selected Fair Value (avg of trailing + forward)

$6.35

-45.9%