Company Valuation: Casa Systems, Inc.

Fiscal Period: December 2017 2018 2019 2020 2021 2022
Capitalization 1 1,316 1,087 344.4 515.3 487.7 258.3
Change - -17.41% -68.31% 49.64% -5.37% -47.03%
Enterprise Value (EV) 1 1,353 1,102 524 649.1 609.1 362.6
Change - -18.56% -52.43% 23.87% -6.17% -40.46%
P/E ratio 68.3x 16.6x -7.11x 21.3x 151x -3.16x
PBR 28.7x 14.6x 8.89x 6.75x 5.84x 5.23x
PEG - 0x 0x -0x -1.7x 0x
Capitalization / Revenue 3.74x 3.66x 1.22x 1.31x 1.22x 0.9x
EV / Revenue 3.85x 3.71x 1.86x 1.65x 1.52x 1.27x
EV / EBITDA 9.4x 12.5x 71.7x 15.4x 20.9x -8.57x
EV / EBIT 9.93x 14x -93.2x 26.8x 45.3x -6.51x
EV / FCF -36.4x 17.4x -8.84x 21.9x 27.5x 19x
FCF Yield -2.74% 5.76% -11.3% 4.57% 3.64% 5.25%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 0.26 0.79 -0.5749 0.29 0.0376 -0.8647
Distribution rate - - - - - -
Net sales 1 351.6 297.1 282.3 393.2 401.3 286.5
EBITDA 1 144 88.42 7.311 42.18 29.14 -42.3
EBIT 1 136.2 78.97 -5.625 24.21 13.46 -55.68
Net income 1 88.5 73.01 -48.21 24.8 3.207 -79.2
Net Debt 1 36.8 14.87 179.6 133.8 121.4 104.3
Reference price 2 17.760000 13.130000 4.090000 6.170000 5.670000 2.730000
Nbr of stocks (in thousands) 74,097 82,775 84,204 83,524 86,006 94,621
Announcement Date 3/7/18 2/28/19 2/27/20 2/25/21 2/25/22 3/15/23
1USD in Million2USD
Estimates

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P/E ratio EV / Sales EV / EBITDA Yield (Y) Capi. ($)
22.72x3.83x10.49x+3.20%205B
46.26x15.76x34.32x-.--%119B
50.75x7.15x22.76x+0.87%73.21B
14.35x0.56x9.85x+3.68%52.99B
28.38x5.12x20.75x+1.77%33.01B
15.4x1.89x10.06x+3.83%32.88B
33.1x0.94x7.1x+3.62%25.02B
15.68x0.82x4.96x+3.68%23.22B
23.22x4.78x18.7x+0.69%17.2B
Average 27.76x 4.54x 15.44x +2.37% 64.66B
Weighted average by Cap. 30.39x 6.14x 17.29x +2.21%
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Year-on-year evolution of the PER

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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