Using the industry peer median P/E Multiples multiple (trailing + forward), Immersion Corporation (IMMR) has a fair value of $49.55 based on 1 comparable companies in the Software - Application industry.
USD in millions except Fair Price. Subject company highlighted.
| Mkt Cap ($M) | Trailing P/E | Forward P/E | |
|---|---|---|---|
| Immersion CorporationIMMR | 216 | 1.6x | 10.5x |
| Perfect Corp. | 169 | 33.2x | 24.5x |
| Industry Median | 33.2x | 24.5x | |
| (*) Profit after tax | 90 | 20 | |
| Equity Value | 2,996 | 280 | |
| (/) Outstanding shares | 33 | 33 | |
| Fair Price | $91 | $8 | |
Using the industry peer median EV/EBITDA multiple (trailing + forward), Immersion Corporation (IMMR) has a fair value of $36.56 based on 3 comparable companies in the Software - Application industry.
USD in millions except Fair Price. Subject company highlighted.
| Mkt Cap ($M) | Trailing EV/EBITDA | Forward EV/EBITDA | |
|---|---|---|---|
| Immersion CorporationIMMR | 216 | 2.5x | 91.4x |
| Asure Software, Inc. | 259 | 15.3x | 15.3x |
| Tucows Inc. | 184 | 3.6x | 4.4x |
| Perfect Corp. | 169 | 35.1x | 40.0x |
| Industry Median | 15.3x | 15.3x | |
| (*) EBITDA | 185 | 5 | |
| = Enterprise Value | 2,829 | 77 | |
| (-) Net Debt | 244 | 244 | |
| Equity Value | 2,584 | -167 | |
| (/) Outstanding shares | 33 | 33 | |
| Fair Price | $78 | $-5 | |
Using the industry peer median EV/Revenue multiple (trailing + forward), Immersion Corporation (IMMR) has a fair value of $35.92 based on 8 comparable companies in the Software - Application industry.
USD in millions except Fair Price. Subject company highlighted.
| Mkt Cap ($M) | Trailing EV/Revenue | Forward EV/Revenue | |
|---|---|---|---|
| Immersion CorporationIMMR | 216 | 0.4x | 13.7x |
| ON24, Inc. | 348 | 2.3x | 2.1x |
| Asure Software, Inc. | 259 | 2.2x | 2.2x |
| Tucows Inc. | 184 | 2.1x | 2.5x |
| Marti Technologies, Inc. | 183 | 6.7x | 15.8x |
| Duos Technologies Group, Inc. | 181 | 6.0x | 10.6x |
| Perfect Corp. | 169 | 0.6x | 0.7x |
| Waldencast plc | 91 | 0.8x | 0.9x |
| AudioEye, Inc. | 91 | 2.5x | 3.1x |
| Industry Median | 2.3x | 2.4x | |
| (*) Revenue | 1,234 | 34 | |
| = Enterprise Value | 2,783 | 80 | |
| (-) Net Debt | 244 | 244 | |
| Equity Value | 2,539 | -164 | |
| (/) Outstanding shares | 33 | 33 | |
| Fair Price | $77 | $-5 | |
Using the PEG framework with historical EPS growth of 25.0% plus 6.5% dividend yield, the company has a fair value of $102.75 based on TTM EPS (FY2024) of $4.11. The current PEG ratio is 0.01.
PEG < 1 = bargain, 1–1.5 = fair, > 2 = expensive.
Growth above 25% is capped — hypergrowth may not be sustainable long-term.
| EPS Growth RateHistorical | 115.7% |
| Dividend Yield | +6.5% |
| Adjusted Growth (clamped 8–25%)Clamped | 25.0% |
| Fair P/E | 25.0x |
| TTM EPS (FY2024) | $4.11 |
| Fair Value | $102.75 |
No analyst estimates available.
| Year | Net Income | EPS | YoY |
|---|---|---|---|
| FY2020 | $5.4M | $0.19 | — |
| FY2021 | $12.5M | $0.39 | +105.3% |
| FY2022 | $30.7M | $0.92 | +135.9% |
| FY2023 | $34.0M | $1.04 | +13.0% |
| FY2024 | $90.2M | $4.11 | +295.2% |
4Y Historical EPS CAGR: 115.7%
Using the Earnings Power Value framework with a WACC of 6.3% and normalized earnings of $320.5M, the company has a fair value of $147.46 per share. The EPV range is $117.54 – $196.25 based on WACC sensitivity (4.8% – 7.8%).
| Low | Selected | High | |
|---|---|---|---|
| Normalized Earnings | 321 | 321 | 321 |
| (/) WACC | 7.8% | 6.3% | 4.8% |
| Enterprise Value | 4,130 | 5,119 | 6,731 |
| (-) Net debt | 244 | 244 | 244 |
| Equity Value | 3,885 | 4,874 | 6,487 |
| (/) Outstanding shares | 33 | 33 | 33 |
| Fair Price | $117.54 | $147.46 | $196.25 |
Using the Two-Stage Dividend Discount Model with a Cost of Equity of 12.8% and projected dividend growth of 3.0%, the fair value is $3.92 per share. The DDM range is $3.04 – $5.29 based on sensitivity analysis across Cost of Equity and growth rate assumptions.
| Year | DPS | Payout Ratio | YoY Growth |
|---|---|---|---|
| 2024 | $0.39 | 14.2% | +70.4% |
| 2023 | $0.23 | 21.8% | — |
| 2022 | — | 0.0% | — |
| 2021 | — | 0.0% | — |
| 2020 | — | 0.0% | — |
| Year | Projected DPS | Growth | Discount Factor | Present Value |
|---|---|---|---|---|
| 2025 | $0.40 | 3.0% | 0.8862 | $0.35 |
| 2026 | $0.41 | 3.0% | 0.7853 | $0.32 |
| 2027 | $0.42 | 3.0% | 0.6959 | $0.30 |
| 2028 | $0.44 | 3.0% | 0.6167 | $0.27 |
| 2029 | $0.45 | 3.0% | 0.5465 | $0.25 |
| Terminal Value | $0.46 DPS | 2.5% | $2.44 |
Fair value under different Cost of Equity (rows) and DPS Growth Rate (columns) assumptions.
| Ke \ Growth | 1.0% | 2.0% | 3.0% | 4.0% | 5.0% |
|---|---|---|---|---|---|
| 10.8% | $4 | $5 | $5 | $5 | $5 |
| 11.8% | $4 | $4 | $4 | $5 | $5 |
| 12.8% | $4 | $4 | $4 | $4 | $4 |
| 13.8% | $3 | $3 | $4 | $4 | $4 |
| 14.8% | $3 | $3 | $3 | $3 | $4 |
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.