TOWER SEMICONDUCTOR LTD (TSEM)

Semiconductors & Related Devices

Latest Price

$202.20

TTM P/E

Normalized P/E

Div Yield

Book Value

P/B Ratio

Valuation metrics

EPS: $1.94

Book value / share: $25.94

Formula: √(22.5 × EPS × BVPS)

Graham Number

$33.65

83% downside

Norm. op. income: $191M (median of 7yr)

Tax rate: 6%

Discount rate: 10%

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

Earnings Power Value

$24.77

88% downside

Base FCF: $135M (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

$98.38

51% downside

EPS: $1.94

Target P/E: 15×

Formula: EPS × P/E

P/E Fair Value

$29.10

86% downside