$IDEX NEWS - Ideanomics Signs$113M Procurement and Financing Agreement for 100,000 EV Buses
“We model CY22 EPS of $0.12 and apply aconservative 15x PE multiple to arrive at an intrinsic value of $1.82/share.”
Strong fundamentals and cheap valuation make acompelling investment case. We expect IDEX’s topline to climb from $39 millionin CY20 (back-half ended) to $89 million in CY22. Gross margin will remain stablearound ~95% while EBITDA margin is likely to expand from ~23% in CY20 to ~32%in CY22 as the company benefits from economies of scale. More importantly, IDEXwill generate positive FCF starting this year and its RoE will reach 28% byCY22. We model CY22 EPS of $0.12 and apply a conservative 15x PE multiple toarrive at an intrinsic value of $1.82/share.
Source: Intro-Act Analyst Report April 20,2020
Copyright: Copyright 2019 Intro-act, LLC(Intro-act).
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