Eightco Holdings Inc.

ORBS

TechnologyTechnology DistributorsNASDAQ

$0.87

Market Cap: $172.29M

Eightco Holdings Inc. (ORBS) Valuation Summary

Updated May 11, 2026 04:10

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	$0.08 – $1.37	$0.16	-82.2%
Revenue DCF 10Y	$0.02 – $3.23	$0.66	-24.7%
▸ Trading Multiples
EV/Revenue	$1.12 – $2.98	$2.22	+154.3%

Valuation History

DCF Analysis

Eightco Holdings Inc. (ORBS) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$0.66

Market Price

$0.87

Upside / Downside

-24.7%

Verdict

Overvalued

Using a Revenue DCF model with operating margin convergence from -70.8% to a target of 10.2% over 5 years, discounted at a WACC of 9.2%, Eightco Holdings Inc. (ORBS) has an intrinsic value of $0.66 per share (range: $0.02 – $3.23).

Key Assumptions

Current Operating Margin

-70.8%

Target Operating Margin

10.2%

WACC

9.2%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1.6%

Target CapEx/Rev

6.0%

D&A/Revenue

3.0%

Tax Rate

40.0%

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	43	30.0%	-54.6%	-23	-23	1	(1)	1	-23	-22
2027	56	30.0%	-38.4%	-21	-21	2	(1)	2	-23	-20
2028	72	30.0%	-22.2%	-16	-16	2	(2)	2	-18	-14
2029	93	28.5%	-6.0%	-6	-6	3	(3)	3	-8	-6
2030	116	24.9%	10.2%	12	7	4	(4)	3	3	2
2031	141	21.2%	10.2%	14	9	4	(6)	3	4	2
2032	166	17.6%	10.2%	17	10	5	(8)	3	4	3
2033	189	13.9%	10.2%	19	12	6	(10)	3	5	3
2034	208	10.3%	10.2%	21	13	6	(12)	2	5	2
2035	222	6.6%	10.2%	23	14	7	(13)	2	5	2

Enterprise Value Bridge

Sum of PV(FCFF)-48

Terminal Value (Gordon Growth at 3.0%)91

PV of Terminal Value39

Enterprise Value-9

(–) Net Debt-50

Equity Value41

(÷) Shares Outstanding63

Fair Value per Share$0.66

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	4.2%	7.2%	10.2%	13.2%	16.2%
7.2%	$-0	$0	$1	$2	$3
8.2%	$-0	$0	$1	$2	$2
9.2%	$-0	$-0	$1	$1	$2
10.2%	$-0	$-0	$1	$1	$2
11.2%	$-0	$-0	$0	$1	$1

Current price: $0.87. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 12.2% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Eightco Holdings Inc. (ORBS) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$0.16

Market Price

$0.87

Upside / Downside

-82.2%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-70.8%

Target Operating Margin

10.2%

WACC

9.2%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1.6%

Target CapEx/Rev

6.0%

D&A/Revenue

3.0%

Tax Rate

40.0%

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	43	30.0%	-54.6%	-23	-23	1	(1)	1	-24	-23
2027	56	29.7%	-38.4%	-21	-21	2	(2)	2	-23	-20
2028	68	23.0%	-22.2%	-15	-15	2	(3)	2	-18	-14
2029	80	16.4%	-6.0%	-5	-5	2	(4)	1	-8	-6
2030	87	9.7%	10.2%	9	5	3	(5)	1	2	1

Enterprise Value Bridge

Sum of PV(FCFF)-61

Terminal Value (Gordon Growth at 3.0%)31

PV of Terminal Value21

Enterprise Value-41

(–) Net Debt-50

Equity Value10

(÷) Shares Outstanding63

Fair Value per Share$0.16

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	4.2%	7.2%	10.2%	13.2%	16.2%
7.2%	$-0	$-0	$0	$1	$1
8.2%	$-0	$-0	$0	$1	$1
9.2%	$-0	$-0	$0	$1	$1
10.2%	$-0	$-0	$0	$0	$1
11.2%	$-0	$-0	$0	$0	$1

Current price: $0.87. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 12.2% 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

$2.22

Market Price

$0.87

Upside / Downside

+154.3%

Verdict

Undervalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Eightco Holdings Inc. (ORBS) has a fair value of $2.22 based on 7 comparable companies in the Technology Distributors industry.

EV/Revenue Valuation — Technology Distributors

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Eightco Holdings Inc.ORBS	55	0.1x	—
Aehr Test SystemsAEHR	3,058	51.6x	61.1x
SkyWater Technology, Inc.SKYT	1,625	4.2x	5.4x
Ibotta, Inc.IBTA	1,007	2.5x	2.3x
ScanSource, Inc.SCSC	950	0.3x	0.3x
Cantaloupe, Inc.CTLP	826	2.7x	3.4x
VtexVTEX	713	2.9x	3.0x
Grid Dynamics Holdings, Inc.GDYN	583	0.6x	0.7x
Industry Median		2.7x	3.0x
(*) Revenue		33
= Enterprise Value		90
(-) Net Debt		-50
Equity Value		140
(/) Outstanding shares		63
Fair Price		$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

$0.08 – $1.37

$0.16

-82.2%

Revenue DCF 10Y

$0.02 – $3.23

$0.66

-24.7%

▸ Trading Multiples

EV/Revenue

$1.12 – $2.98

$2.22

+154.3%

DCF Analysis

Eightco Holdings Inc. (ORBS) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$0.66

Market Price

$0.87

Upside / Downside

-24.7%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-70.8%

Target Operating Margin

10.2%

WACC

9.2%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1.6%

Target CapEx/Rev

6.0%

D&A/Revenue

3.0%

Tax Rate

40.0%

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	43	30.0%	-54.6%	-23	-23	1	(1)	1	-23	-22
2027	56	30.0%	-38.4%	-21	-21	2	(1)	2	-23	-20
2028	72	30.0%	-22.2%	-16	-16	2	(2)	2	-18	-14
2029	93	28.5%	-6.0%	-6	-6	3	(3)	3	-8	-6
2030	116	24.9%	10.2%	12	7	4	(4)	3	3	2
2031	141	21.2%	10.2%	14	9	4	(6)	3	4	2
2032	166	17.6%	10.2%	17	10	5	(8)	3	4	3
2033	189	13.9%	10.2%	19	12	6	(10)	3	5	3
2034	208	10.3%	10.2%	21	13	6	(12)	2	5	2
2035	222	6.6%	10.2%	23	14	7	(13)	2	5	2

Enterprise Value Bridge

Sum of PV(FCFF)-48

Terminal Value (Gordon Growth at 3.0%)91

PV of Terminal Value39

Enterprise Value-9

(–) Net Debt-50

Equity Value41

(÷) Shares Outstanding63

Fair Value per Share$0.66

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	4.2%	7.2%	10.2%	13.2%	16.2%
7.2%	$-0	$0	$1	$2	$3
8.2%	$-0	$0	$1	$2	$2
9.2%	$-0	$-0	$1	$1	$2
10.2%	$-0	$-0	$1	$1	$2
11.2%	$-0	$-0	$0	$1	$1

Current price: $0.87. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 12.2% 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

$2.22

Market Price

$0.87

Upside / Downside

+154.3%

Verdict

Undervalued

EV/Revenue Valuation — Technology Distributors

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Eightco Holdings Inc.ORBS	55	0.1x	—
Aehr Test SystemsAEHR	3,058	51.6x	61.1x
SkyWater Technology, Inc.SKYT	1,625	4.2x	5.4x
Ibotta, Inc.IBTA	1,007	2.5x	2.3x
ScanSource, Inc.SCSC	950	0.3x	0.3x
Cantaloupe, Inc.CTLP	826	2.7x	3.4x
VtexVTEX	713	2.9x	3.0x
Grid Dynamics Holdings, Inc.GDYN	583	0.6x	0.7x
Industry Median		2.7x	3.0x
(*) Revenue		33
= Enterprise Value		90
(-) Net Debt		-50
Equity Value		140
(/) Outstanding shares		63
Fair Price		$2