NeuroOne Medical Technologies Corporation

NMTC

HealthcareMedical - DevicesNASDAQ

$4.33

Market Cap: $36.58M

NeuroOne Medical Technologies Corporation (NMTC) Valuation Summary

Updated Apr 16, 2026 22:13

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	$0.03 – $1.81	$0.56	-87.7%
Revenue DCF 10Y	$0.32 – $6.22	$2.06	-54.8%
▸ Trading Multiples
EV/Revenue	$0.25 – $0.82	$0.56	-87.8%

Valuation History

DCF Analysis

NeuroOne Medical Technologies Corporation (NMTC) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$2.06

Market Price

$4.33

Upside / Downside

-52.4%

Verdict

Overvalued

Using a Revenue DCF model with operating margin convergence from -34.9% to a target of 13.3% over 5 years, discounted at a WACC of 8.7%, NeuroOne Medical Technologies Corporation (NMTC) has an intrinsic value of $2.06 per share (range: $0.32 – $6.22).

Key Assumptions

Current Operating Margin

-34.9%

Target Operating Margin

13.3%

WACC

8.7%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

44.5%

Target CapEx/Rev

40.2%

D&A/Revenue

26.8%

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	11	-5.3%	-25.3%	-3	-3	3	(5)	-7	2	2
2027	15	31.9%	-15.6%	-2	-2	4	(7)	-1	-3	-3
2028	23	50.1%	-6.0%	-1	-1	6	(10)	-3	-2	-2
2029	29	26.5%	3.7%	1	1	8	(12)	-2	-1	-1
2030	35	21.4%	13.3%	5	4	9	(15)	-2	1	0
2031	45	30.0%	13.3%	6	5	12	(19)	-4	2	1
2032	59	30.0%	13.3%	8	6	16	(24)	-5	3	2
2033	77	30.0%	13.3%	10	8	21	(31)	-7	4	2
2034	100	30.0%	13.3%	13	10	27	(40)	-9	6	3
2035	129	30.0%	13.3%	17	14	35	(52)	-12	8	4

Enterprise Value Bridge

Sum of PV(FCFF)9

Terminal Value (Gordon Growth at 3.0%)149

PV of Terminal Value68

Enterprise Value77

(–) Net Debt-6

Equity Value83

(÷) Shares Outstanding40

Fair Value per Share$2.06

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.3%	10.3%	13.3%	16.3%	19.3%
6.7%	$1	$2	$4	$5	$6
7.7%	$1	$2	$3	$4	$5
8.7%	$0	$1	$2	$3	$4
9.7%	$0	$1	$2	$2	$3
10.7%	$0	$1	$1	$2	$2

Current price: $4.33. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at -40.0% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

NeuroOne Medical Technologies Corporation (NMTC) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$0.56

Market Price

$4.33

Upside / Downside

-87.1%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-34.9%

Target Operating Margin

13.3%

WACC

8.7%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

44.5%

Target CapEx/Rev

40.2%

D&A/Revenue

26.8%

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	11	-5.3%	-25.3%	-3	-3	3	(5)	-7	2	2
2027	15	31.9%	-15.6%	-2	-2	4	(6)	-1	-3	-3
2028	23	50.1%	-6.0%	-1	-1	6	(10)	-3	-2	-1
2029	29	26.5%	3.7%	1	1	8	(12)	-2	-1	-1
2030	35	21.4%	13.3%	5	4	9	(14)	-2	1	1

Enterprise Value Bridge

Sum of PV(FCFF)-2

Terminal Value (Gordon Growth at 3.0%)26

PV of Terminal Value18

Enterprise Value16

(–) Net Debt-6

Equity Value23

(÷) Shares Outstanding40

Fair Value per Share$0.56

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.3%	10.3%	13.3%	16.3%	19.3%
6.7%	$0	$0	$1	$1	$2
7.7%	$0	$0	$1	$1	$1
8.7%	$0	$0	$1	$1	$1
9.7%	$0	$0	$0	$1	$1
10.7%	$0	$0	$0	$1	$1

Current price: $4.33. Green = undervalued, Red = overvalued.

Working Capital Assumption

Trading Multiples

Fair Value

$0.56

Market Price

$4.33

Upside / Downside

-87.1%

Verdict

Overvalued

Using the industry peer median EV/Revenue multiple (trailing + forward), NeuroOne Medical Technologies Corporation (NMTC) has a fair value of $0.56 based on 7 comparable companies in the Medical - Devices industry.

EV/Revenue Valuation — Medical - Devices

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
NeuroOne Medical Technologies CorporationNMTC	174	13.9x	14.6x
Baird Medical Investment Holdings LimitedBDMD	64	2.2x	—
electroCore, Inc.ECOR	54	1.8x	1.3x
Cytosorbents CorporationCTSO	38	1.7x	1.5x
Star Equity Holdings, Inc.STRR	36	0.3x	0.4x
Myomo, Inc.MYO	31	0.9x	0.8x
Hyperion DeFi, Inc.HYPD	20	26.5x	20.8x
Zynex, Inc.ZYXI	4	0.2x	0.4x
Industry Median		1.7x	1.1x
(*) Revenue		12	11
= Enterprise Value		20	12
(-) Net Debt		-6	-6
Equity Value		26	19
(/) Outstanding shares		40	40
Fair Price		$1	$0

Selected Fair Value (avg of trailing + forward)

$0.56

-87.1%

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

$0.03 – $1.81

$0.56

-87.7%

Revenue DCF 10Y

$0.32 – $6.22

$2.06

-54.8%

▸ Trading Multiples

EV/Revenue

$0.25 – $0.82

$0.56

-87.8%

DCF Analysis

NeuroOne Medical Technologies Corporation (NMTC) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$2.06

Market Price

$4.33

Upside / Downside

-52.4%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-34.9%

Target Operating Margin

13.3%

WACC

8.7%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

44.5%

Target CapEx/Rev

40.2%

D&A/Revenue

26.8%

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	11	-5.3%	-25.3%	-3	-3	3	(5)	-7	2	2
2027	15	31.9%	-15.6%	-2	-2	4	(7)	-1	-3	-3
2028	23	50.1%	-6.0%	-1	-1	6	(10)	-3	-2	-2
2029	29	26.5%	3.7%	1	1	8	(12)	-2	-1	-1
2030	35	21.4%	13.3%	5	4	9	(15)	-2	1	0
2031	45	30.0%	13.3%	6	5	12	(19)	-4	2	1
2032	59	30.0%	13.3%	8	6	16	(24)	-5	3	2
2033	77	30.0%	13.3%	10	8	21	(31)	-7	4	2
2034	100	30.0%	13.3%	13	10	27	(40)	-9	6	3
2035	129	30.0%	13.3%	17	14	35	(52)	-12	8	4

Enterprise Value Bridge

Sum of PV(FCFF)9

Terminal Value (Gordon Growth at 3.0%)149

PV of Terminal Value68

Enterprise Value77

(–) Net Debt-6

Equity Value83

(÷) Shares Outstanding40

Fair Value per Share$2.06

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.3%	10.3%	13.3%	16.3%	19.3%
6.7%	$1	$2	$4	$5	$6
7.7%	$1	$2	$3	$4	$5
8.7%	$0	$1	$2	$3	$4
9.7%	$0	$1	$2	$2	$3
10.7%	$0	$1	$1	$2	$2

Current price: $4.33. Green = undervalued, Red = overvalued.

Working Capital Assumption

Trading Multiples

Fair Value

$0.56

Market Price

$4.33

Upside / Downside

-87.1%

Verdict

Overvalued

EV/Revenue Valuation — Medical - Devices

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
NeuroOne Medical Technologies CorporationNMTC	174	13.9x	14.6x
Baird Medical Investment Holdings LimitedBDMD	64	2.2x	—
electroCore, Inc.ECOR	54	1.8x	1.3x
Cytosorbents CorporationCTSO	38	1.7x	1.5x
Star Equity Holdings, Inc.STRR	36	0.3x	0.4x
Myomo, Inc.MYO	31	0.9x	0.8x
Hyperion DeFi, Inc.HYPD	20	26.5x	20.8x
Zynex, Inc.ZYXI	4	0.2x	0.4x
Industry Median		1.7x	1.1x
(*) Revenue		12	11
= Enterprise Value		20	12
(-) Net Debt		-6	-6
Equity Value		26	19
(/) Outstanding shares		40	40
Fair Price		$1	$0

Selected Fair Value (avg of trailing + forward)

$0.56

-87.1%