Intapp, Inc.

INTA

TechnologySoftware - ApplicationNASDAQ

$22.77

Market Cap: $1.75B

Intapp, Inc. (INTA) Valuation Summary

Updated Apr 6, 2026 22:26

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	$1.30 – $16.91	$2.70	-89.1%
Revenue DCF 10Y	$1.27 – $42.09	$13.00	-47.6%
▸ Trading Multiples
EV/Revenue	$16.37 – $27.47	$21.49	-13.4%

Valuation History

DCF Analysis

Intapp, Inc. (INTA) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$13.00

Market Price

$22.77

Upside / Downside

-42.9%

Verdict

Overvalued

Using a Revenue DCF model with operating margin convergence from -5.4% to a target of 10.0% over 5 years, discounted at a WACC of 9.0%, Intapp, Inc. (INTA) has an intrinsic value of $13.00 per share (range: $1.27 – $42.09).

Key Assumptions

Current Operating Margin

-5.4%

Target Operating Margin

10.0%

WACC

9.0%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1.1%

Target CapEx/Rev

8.3%

D&A/Revenue

5.5%

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	573	13.7%	-2.4%	-13	-13	32	(11)	63	-55	-53
2027	651	13.6%	0.7%	5	4	36	(17)	22	1	1
2028	741	13.8%	3.8%	28	22	41	(24)	25	14	11
2029	962	29.8%	6.9%	66	52	53	(38)	62	5	4
2030	1,191	23.8%	10.0%	119	94	66	(56)	64	39	27
2031	1,433	20.3%	10.0%	143	113	79	(78)	68	46	29
2032	1,675	16.9%	10.0%	167	132	92	(103)	68	54	31
2033	1,899	13.4%	10.0%	189	150	105	(130)	63	61	32
2034	2,088	9.9%	10.0%	208	165	115	(158)	53	69	33
2035	2,223	6.5%	10.0%	222	175	123	(184)	38	76	34

Enterprise Value Bridge

Sum of PV(FCFF)148

Terminal Value (Gordon Growth at 3.0%)1,308

PV of Terminal Value578

Enterprise Value726

(–) Net Debt-297

Equity Value1,023

(÷) Shares Outstanding79

Fair Value per Share$13.00

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	4.0%	7.0%	10.0%	13.0%	16.0%
7.0%	$1	$8	$19	$31	$42
8.0%	$1	$7	$15	$24	$33
9.0%	$1	$6	$13	$20	$27
10.0%	$2	$5	$11	$17	$23
11.0%	$2	$5	$10	$15	$20

Current price: $22.77. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 28.1% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Intapp, Inc. (INTA) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$2.70

Market Price

$22.77

Upside / Downside

-88.1%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-5.4%

Target Operating Margin

10.0%

WACC

9.0%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1.1%

Target CapEx/Rev

8.3%

D&A/Revenue

5.5%

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	573	13.7%	-2.4%	-13	-13	32	(15)	63	-59	-57
2027	651	13.6%	0.7%	5	4	36	(26)	22	-8	-7
2028	741	13.8%	3.8%	28	22	41	(40)	25	-2	-2
2029	962	29.8%	6.9%	66	52	53	(66)	62	-23	-17
2030	1,191	23.8%	10.0%	119	94	66	(98)	64	-3	-2

Enterprise Value Bridge

Sum of PV(FCFF)-85

Terminal Value (Gordon Growth at 3.0%)0

PV of Terminal Value0

Enterprise Value-85

(–) Net Debt-297

Equity Value212

(÷) Shares Outstanding79

Fair Value per Share$2.70

Note:Terminal value is $0 because Year 5 FCFF is negative. The company's operating margin convergence does not fully offset reinvestment needs within 5 years. See the sensitivity matrix for scenarios where the model produces a positive terminal value (higher target margin or lower WACC).

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	4.0%	7.0%	10.0%	13.0%	16.0%
7.0%	$1	$2	$3	$9	$17
8.0%	$1	$2	$3	$8	$14
9.0%	$1	$2	$3	$7	$12
10.0%	$1	$2	$3	$6	$10
11.0%	$2	$2	$3	$6	$9

Current price: $22.77. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 28.1% 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

$21.49

Market Price

$22.77

Upside / Downside

-5.6%

Verdict

Overvalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Intapp, Inc. (INTA) has a fair value of $21.49 based on 9 comparable companies in the Software - Application industry.

EV/Revenue Valuation — Software - Application

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Intapp, Inc.INTA	1,792	3.0x	3.0x
Clear Secure, Inc.YOU	4,968	5.4x	6.4x
RingCentral, Inc.RNG	3,407	1.9x	1.8x
Braze, Inc.BRZE	2,624	3.5x	2.9x
Freshworks Inc.FRSH	2,401	2.2x	2.6x
Dave Inc.DAVE	2,308	4.5x	6.7x
nCino, Inc.NCNO	2,011	3.7x	4.1x
Vertex, Inc.VERX	1,930	2.6x	3.0x
Blackbaud, Inc.BLKB	1,859	2.0x	1.9x
Asana, Inc.ASAN	1,476	1.9x	1.9x
Industry Median		2.6x	2.9x
(*) Revenue		504	501
= Enterprise Value		1,330	1,458
(-) Net Debt		-297	-297
Equity Value		1,627	1,755
(/) Outstanding shares		79	79
Fair Price		$21	$22

Selected Fair Value (avg of trailing + forward)

$21.49

-5.6%

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.

Intapp, Inc. (INTA) Valuation Summary

Updated Apr 6, 2026 22:26

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	$1.30 – $16.91	$2.70	-89.1%
Revenue DCF 10Y	$1.27 – $42.09	$13.00	-47.6%
▸ Trading Multiples
EV/Revenue	$16.37 – $27.47	$21.49	-13.4%

Valuation History

DCF Analysis

Intapp, Inc. (INTA) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$13.00

Market Price

$22.77

Upside / Downside

-42.9%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-5.4%

Target Operating Margin

10.0%

WACC

9.0%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1.1%

Target CapEx/Rev

8.3%

D&A/Revenue

5.5%

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	573	13.7%	-2.4%	-13	-13	32	(11)	63	-55	-53
2027	651	13.6%	0.7%	5	4	36	(17)	22	1	1
2028	741	13.8%	3.8%	28	22	41	(24)	25	14	11
2029	962	29.8%	6.9%	66	52	53	(38)	62	5	4
2030	1,191	23.8%	10.0%	119	94	66	(56)	64	39	27
2031	1,433	20.3%	10.0%	143	113	79	(78)	68	46	29
2032	1,675	16.9%	10.0%	167	132	92	(103)	68	54	31
2033	1,899	13.4%	10.0%	189	150	105	(130)	63	61	32
2034	2,088	9.9%	10.0%	208	165	115	(158)	53	69	33
2035	2,223	6.5%	10.0%	222	175	123	(184)	38	76	34

Enterprise Value Bridge

Sum of PV(FCFF)148

Terminal Value (Gordon Growth at 3.0%)1,308

PV of Terminal Value578

Enterprise Value726

(–) Net Debt-297

Equity Value1,023

(÷) Shares Outstanding79

Fair Value per Share$13.00

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	4.0%	7.0%	10.0%	13.0%	16.0%
7.0%	$1	$8	$19	$31	$42
8.0%	$1	$7	$15	$24	$33
9.0%	$1	$6	$13	$20	$27
10.0%	$2	$5	$11	$17	$23
11.0%	$2	$5	$10	$15	$20

Current price: $22.77. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 28.1% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Intapp, Inc. (INTA) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$2.70

Market Price

$22.77

Upside / Downside

-88.1%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-5.4%

Target Operating Margin

10.0%

WACC

9.0%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1.1%

Target CapEx/Rev

8.3%

D&A/Revenue

5.5%

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	573	13.7%	-2.4%	-13	-13	32	(15)	63	-59	-57
2027	651	13.6%	0.7%	5	4	36	(26)	22	-8	-7
2028	741	13.8%	3.8%	28	22	41	(40)	25	-2	-2
2029	962	29.8%	6.9%	66	52	53	(66)	62	-23	-17
2030	1,191	23.8%	10.0%	119	94	66	(98)	64	-3	-2

Enterprise Value Bridge

Sum of PV(FCFF)-85

Terminal Value (Gordon Growth at 3.0%)0

PV of Terminal Value0

Enterprise Value-85

(–) Net Debt-297

Equity Value212

(÷) Shares Outstanding79

Fair Value per Share$2.70

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	4.0%	7.0%	10.0%	13.0%	16.0%
7.0%	$1	$2	$3	$9	$17
8.0%	$1	$2	$3	$8	$14
9.0%	$1	$2	$3	$7	$12
10.0%	$1	$2	$3	$6	$10
11.0%	$2	$2	$3	$6	$9

Current price: $22.77. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 28.1% 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

$21.49

Market Price

$22.77

Upside / Downside

-5.6%

Verdict

Overvalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Intapp, Inc. (INTA) has a fair value of $21.49 based on 9 comparable companies in the Software - Application industry.

EV/Revenue Valuation — Software - Application

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Intapp, Inc.INTA	1,792	3.0x	3.0x
Clear Secure, Inc.YOU	4,968	5.4x	6.4x
RingCentral, Inc.RNG	3,407	1.9x	1.8x
Braze, Inc.BRZE	2,624	3.5x	2.9x
Freshworks Inc.FRSH	2,401	2.2x	2.6x
Dave Inc.DAVE	2,308	4.5x	6.7x
nCino, Inc.NCNO	2,011	3.7x	4.1x
Vertex, Inc.VERX	1,930	2.6x	3.0x
Blackbaud, Inc.BLKB	1,859	2.0x	1.9x
Asana, Inc.ASAN	1,476	1.9x	1.9x
Industry Median		2.6x	2.9x
(*) Revenue		504	501
= Enterprise Value		1,330	1,458
(-) Net Debt		-297	-297
Equity Value		1,627	1,755
(/) Outstanding shares		79	79
Fair Price		$21	$22

Selected Fair Value (avg of trailing + forward)

$21.49

-5.6%