$IDEX NEWS - Ideanomics Signs$113M Procurement and Financing...

$IDEX NEWS - Ideanomics Signs$113M Procurement and Financing Agreement for 100,000 EV Buses

https://investors.ideanomics.com/2020-05-07-Ideanomics-MEG-Signs-Agreement-with-Beijing-Xenning-Green-for-EV-Procurement-and-Financing

“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).

https://www.intro-act.com/uploads/profile_documents/4913RQFIJLO2IDEX_IoC.pdf?fbclid=IwAR0dS3NPEF_p6eEgbEyhBDUKtJiVsFeZkTX3_ZQ7QyyiZKpjHOjxDLfSEZ4