As of April 4, 2026, Zynex Inc has a Discounted Cash Flow (DCF) derived fair value of $1.46 per share. With the current market price at $0.12, this represents a potential upside of 1067.4%.
| Key Metrics | Value |
|---|---|
| DCF Fair Value (5-year) | $0.00 |
| DCF Fair Value (10-year) | $1.46 |
| Potential Upside (5-year) | -590.2% |
| Potential Upside (10-year) | 1067.4% |
| Discount Rate (WACC) | 8.3% - 10.4% |
Revenue is projected to grow from $192 million in 12-2024 to $174 million by 12-2034, representing a compound annual growth rate of approximately -1.0%.
| Fiscal Year | Revenue (USD millions) | Growth |
|---|---|---|
| 12-2024 | 192 | 4% |
| 12-2025 | 83 | -57% |
| 12-2026 | 94 | 13% |
| 12-2027 | 107 | 14% |
| 12-2028 | 119 | 11% |
| 12-2029 | 132 | 11% |
| 12-2030 | 140 | 6% |
| 12-2031 | 150 | 7% |
| 12-2032 | 158 | 5% |
| 12-2033 | 166 | 5% |
| 12-2034 | 174 | 5% |
Net profit margin is expected to improve from 2% in 12-2024 to 3% by 12-2034, driven by operational efficiency and economies of scale.
| Fiscal Year | Net Profit (USD millions) | Profit Margin |
|---|---|---|
| 12-2024 | 3 | 2% |
| 12-2025 | 1 | 2% |
| 12-2026 | 2 | 2% |
| 12-2027 | 3 | 2% |
| 12-2028 | 3 | 3% |
| 12-2029 | 4 | 3% |
| 12-2030 | 4 | 3% |
| 12-2031 | 4 | 3% |
| 12-2032 | 5 | 3% |
| 12-2033 | 5 | 3% |
| 12-2034 | 5 | 3% |
with a 5-year average of $1 million. Projected CapEx is expected to maintain at approximately 1% of revenue.
Depreciation is based on an average useful life of 5 years for capital assets.
| Fiscal Year | D&A (USD millions) |
|---|---|
| 12-2025 | 1 |
| 12-2026 | 1 |
| 12-2027 | 1 |
| 12-2028 | 1 |
| 12-2029 | 1 |
| 12-2030 | 1 |
Net working capital is expected to increase gradually, with projected changes affecting free cash flow.
| Components | Average Days |
|---|---|
| Days Receivables | 56 |
| Days Inventory | 137 |
| Days Payables | 0 |
| Fiscal Year | EBITDA | Tax | CapEx | Change in NWC | FCF |
|---|---|---|---|---|---|
| 3M/2025 | 1 | 0 | 0 | (3) | 4 |
| 2026 | 4 | 1 | 1 | (0) | 3 |
| 2027 | 5 | 1 | 1 | 2 | 2 |
| 2028 | 6 | 1 | 1 | 4 | 1 |
| 2029 | 7 | 1 | 1 | 2 | 4 |
| Valuation Method | Fair Price (USD) | Potential Upside |
|---|---|---|
| 5-Year DCF (Growth) | 0.00 | -590.2% |
| 10-Year DCF (Growth) | 1.46 | 1067.4% |
| 5-Year DCF (EBITDA) | 2.60 | 2068.3% |
| 10-Year DCF (EBITDA) | 3.33 | 2671.3% |
Is Zynex Inc (ZYXI) a buy or a sell? Zynex Inc is definitely a buy. Based on our DCF analysis, Zynex Inc (ZYXI) appears to be significantly undervalued with upside potential of 1067.4%. The company's strong projected growth in revenue and profitability, coupled with consistent capital expenditure, supports our positive outlook on its intrinsic value.
Key investment drivers include:
Investors should consider a strong buy at the current market price of $0.12.