RxSight, Inc.

RXST

HealthcareMedical - DevicesNASDAQ

$5.70

Market Cap: $235.96M

RxSight, Inc. (RXST) Valuation Summary

Updated Apr 6, 2026 22:28

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	—	N/A	—
Revenue DCF 10Y	$1.19 – $23.21	$2.88	-59.0%
▸ Trading Multiples
EV/Revenue	$5.09 – $17.88	$7.34	+4.5%

Valuation History

DCF Analysis

RxSight, Inc. (RXST) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$2.88

Market Price

$5.70

Upside / Downside

-49.5%

Verdict

Overvalued

Using a Revenue DCF model with operating margin convergence from -35.8% to a target of 13.3% over 5 years, discounted at a WACC of 8.5%, RxSight, Inc. (RXST) has an intrinsic value of $2.88 per share (range: $1.19 – $23.21).

Key Assumptions

Current Operating Margin

-35.8%

Target Operating Margin

13.3%

WACC

8.5%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

5.1%

Target CapEx/Rev

10.0%

D&A/Revenue

6.6%

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	131	-2.6%	-26.0%	-34	-34	9	(7)	4	-37	-35
2027	144	9.8%	-16.2%	-23	-23	10	(9)	5	-28	-25
2028	149	3.6%	-6.3%	-9	-9	10	(10)	2	-11	-9
2029	194	30.0%	3.5%	7	5	13	(14)	18	-14	-10
2030	252	30.0%	13.3%	34	27	17	(19)	24	0	0
2031	327	30.0%	13.3%	44	34	22	(26)	31	-1	-1
2032	426	30.0%	13.3%	57	45	28	(36)	40	-4	-2
2033	552	29.6%	13.3%	74	58	37	(50)	52	-7	-4
2034	666	20.7%	13.3%	89	70	44	(63)	47	4	2
2035	745	11.9%	13.3%	99	78	49	(74)	33	21	10

Enterprise Value Bridge

Sum of PV(FCFF)-74

Terminal Value (Gordon Growth at 3.0%)398

PV of Terminal Value184

Enterprise Value110

(–) Net Debt-9

Equity Value119

(÷) Shares Outstanding41

Fair Value per Share$2.88

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.3%	10.3%	13.3%	16.3%	19.3%
6.5%	$-4	$-1	$7	$15	$23
7.5%	$-4	$-2	$4	$10	$17
8.5%	$-4	$-2	$3	$8	$13
9.5%	$-4	$-2	$2	$6	$10
10.5%	$-4	$-2	$1	$4	$8

Current price: $5.70. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 41.2% 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

$7.34

Market Price

$5.70

Upside / Downside

+28.8%

Verdict

Undervalued

Using the industry peer median EV/Revenue multiple (trailing + forward), RxSight, Inc. (RXST) has a fair value of $7.34 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
RxSight, Inc.RXST	235	1.7x	1.6x
Butterfly Network, Inc.BFLY	1,052	9.4x	7.9x
Tactile Systems Technology, Inc.TCMD	559	1.5x	1.7x
NeuroPace, Inc.NPCE	492	5.4x	5.5x
OrthoPediatrics Corp.KIDS	403	1.8x	1.6x
Cerus CorporationCERS	356	2.1x	2.2x
Delcath Systems, Inc.DCTH	337	3.5x	2.8x
Treace Medical Concepts, Inc.TMCI	93	0.5x	0.5x
Industry Median		2.1x	2.2x
(*) Revenue		134	140
= Enterprise Value		282	304
(-) Net Debt		-9	-9
Equity Value		291	313
(/) Outstanding shares		41	41
Fair Price		$7	$8

Selected Fair Value (avg of trailing + forward)

$7.34

+28.8%

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

—

N/A

—

Revenue DCF 10Y

$1.19 – $23.21

$2.88

-59.0%

▸ Trading Multiples

EV/Revenue

$5.09 – $17.88

$7.34

+4.5%

DCF Analysis

RxSight, Inc. (RXST) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$2.88

Market Price

$5.70

Upside / Downside

-49.5%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-35.8%

Target Operating Margin

13.3%

WACC

8.5%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

5.1%

Target CapEx/Rev

10.0%

D&A/Revenue

6.6%

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	131	-2.6%	-26.0%	-34	-34	9	(7)	4	-37	-35
2027	144	9.8%	-16.2%	-23	-23	10	(9)	5	-28	-25
2028	149	3.6%	-6.3%	-9	-9	10	(10)	2	-11	-9
2029	194	30.0%	3.5%	7	5	13	(14)	18	-14	-10
2030	252	30.0%	13.3%	34	27	17	(19)	24	0	0
2031	327	30.0%	13.3%	44	34	22	(26)	31	-1	-1
2032	426	30.0%	13.3%	57	45	28	(36)	40	-4	-2
2033	552	29.6%	13.3%	74	58	37	(50)	52	-7	-4
2034	666	20.7%	13.3%	89	70	44	(63)	47	4	2
2035	745	11.9%	13.3%	99	78	49	(74)	33	21	10

Enterprise Value Bridge

Sum of PV(FCFF)-74

Terminal Value (Gordon Growth at 3.0%)398

PV of Terminal Value184

Enterprise Value110

(–) Net Debt-9

Equity Value119

(÷) Shares Outstanding41

Fair Value per Share$2.88

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.3%	10.3%	13.3%	16.3%	19.3%
6.5%	$-4	$-1	$7	$15	$23
7.5%	$-4	$-2	$4	$10	$17
8.5%	$-4	$-2	$3	$8	$13
9.5%	$-4	$-2	$2	$6	$10
10.5%	$-4	$-2	$1	$4	$8

Current price: $5.70. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 41.2% 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

$7.34

Market Price

$5.70

Upside / Downside

+28.8%

Verdict

Undervalued

Using the industry peer median EV/Revenue multiple (trailing + forward), RxSight, Inc. (RXST) has a fair value of $7.34 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
RxSight, Inc.RXST	235	1.7x	1.6x
Butterfly Network, Inc.BFLY	1,052	9.4x	7.9x
Tactile Systems Technology, Inc.TCMD	559	1.5x	1.7x
NeuroPace, Inc.NPCE	492	5.4x	5.5x
OrthoPediatrics Corp.KIDS	403	1.8x	1.6x
Cerus CorporationCERS	356	2.1x	2.2x
Delcath Systems, Inc.DCTH	337	3.5x	2.8x
Treace Medical Concepts, Inc.TMCI	93	0.5x	0.5x
Industry Median		2.1x	2.2x
(*) Revenue		134	140
= Enterprise Value		282	304
(-) Net Debt		-9	-9
Equity Value		291	313
(/) Outstanding shares		41	41
Fair Price		$7	$8

Selected Fair Value (avg of trailing + forward)

$7.34

+28.8%