AUDIOCODES LTD (AUDC)

Telephone & Telegraph Apparatus

Latest Price

$9.61

TTM P/E

Normalized P/E

Div Yield

Book Value

P/B Ratio

Valuation metrics

EPS: $0.31

Book value / share: $6.32

Formula: √(22.5 × EPS × BVPS)

Graham Number

$6.64

31% downside

Norm. op. income: $17M (median of 7yr)

Tax rate: 26%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$6.66

31% downside

Base FCF: $11M (median of recent 5yr)

Growth: 25%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$32.06

+234% upside

EPS: $0.31

Target P/E: 15×

Formula: EPS × P/E

P/E Fair Value

$4.65

52% downside