Company Valuation: UTStarcom Holdings Corp.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 49.58 31.26 32.07 31.21 27.36 24.05
Change - -36.96% 2.61% -2.68% -12.34% -12.09%
Enterprise Value (EV) 1 14.73 -17.63 -19.32 -15.91 -15.13 -9.33
Change - -219.72% -9.57% 17.66% 4.92% 38.32%
P/E -2.09x -5.38x -6.43x -8.14x -6.04x -2.92x
PBR 0.64x 0.46x 0.56x 0.61x 0.59x 0.64x
PEG - 0.1x 0.4x 0.3x -0.4x -0x
Capitalization / Revenue 2.04x 1.96x 2.28x 1.98x 2.52x 2.68x
EV / Revenue 0.61x -1.11x -1.38x -1.01x -1.39x -1.04x
EV / EBITDA -0.65x 3.56x 4.62x 2.42x 2.14x 1.12x
EV / EBIT -0.63x 3.32x 4.4x 2.34x 2.06x 1.09x
EV / FCF 2.47x -0.75x -2.12x 10.3x 4.38x 1.68x
FCF Yield 40.5% -133% -47.3% 9.75% 22.8% 59.6%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -2.64 -0.6471 -0.5523 -0.4226 -0.48 -0.87
Distribution rate - - - - - -
Net sales 1 24.31 15.92 14.05 15.75 10.88 8.978
EBITDA 1 -22.67 -4.947 -4.181 -6.579 -7.056 -8.35
EBIT 1 -23.24 -5.319 -4.387 -6.809 -7.331 -8.557
Net income 1 -23.68 -5.828 -5.002 -3.851 -4.368 -7.95
Net Debt 1 -34.85 -48.89 -51.4 -47.12 -42.49 -33.38
Reference price 2 5.520 3.480 3.550 3.440 2.900 2.540
Nbr of stocks (in thousands) 8,981 8,981 9,035 9,074 9,436 9,470
Announcement Date 21/04/21 26/04/22 27/04/23 29/04/24 25/04/25 24/04/26
1USD in Million2USD
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 24.21M
37.19x7.77x20.07x1.37% 476B
50.55x17.91x36.12x-.--% 243B
22.26x0.92x16.17x2.01% 201B
33.73x10.67x26.3x0.31% 166B
34.58x6.67x18.79x0.95% 78.46B
169.67x21.84x64.03x-.--% 65.2B
30.16x6.84x23.03x1.37% 58.22B
77.57x9.04x41.71x-.--% 57.15B
39.8x2.1x13.63x1.81% 53.72B
Average 55.06x 9.31x 28.87x 0.87% 139.82B
Weighted average by Cap. 44.44x 9.28x 25.77x 0.97%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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