BTQ Technologies Corp. Common Stock (BTQ) DCF Valuation & Fundamental Primer
BTQ Technologies Corp. Common Stock (BTQ) currently trades at $5.47 with an enterprise value of $617.7M. Our proprietary institutional model rates BTQ Technologies Corp. Common Stock at 88/100 (Grade: A+ · Elite SaaS Compounder). The current market price prices in an implied 5-year revenue CAGR of 26.9% vs. historical growth of 22.7% (Fairly Priced to Fundamentals).
Institutional fundamental teardown of BTQ Technologies Corp. Common Stock (BTQ) covering SEC 10-K/10-Q cash flow conversion, SBC dilution friction, and Reverse-DCF valuation hurdles.
BTQ Technologies Corp. Common Stock (BTQ) 3-Scenario DCF Valuation Range
Stress-test BTQ's 5-year growth, target FCF margin, WACC, terminal methodology, and SBC/dilution friction in real time.
Split between 5-Year Explicit Cash Flows and Discounted Terminal Value
2D Institutional Valuation Sensitivity Heatmap
Implied share price & upside/downside spread across 25 valuation states (Current Price: $5.47).
| WACC \ Terminal | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% |
|---|---|---|---|---|---|
| 8.5% | $5.24 -4% | $5.56 +2% | $5.93 +8% | $6.37 +16% | $6.89 +26% |
| 9.3% | $4.73 -14% | $4.98 -9% | $5.26 -4% | $5.60 +2% | $5.99 +9% |
| 10.0% | $4.30 -21% | $4.51 -18% | $4.73 -13% | $4.99 -9% | $5.29 -3% |
| 10.8% | $3.95 -28% | $4.11 -25% | $4.30 -21% | $4.51 -18% | $4.74 -13% |
| 11.5% | $3.65 -33% | $3.79 -31% | $3.94 -28% | $4.11 -25% | $4.30 -21% |
Institutional Software Quality Scorecard (88/100 · Grade A+)
Exceptional unit economics, disciplined equity dilution, and fortress balance sheet.
Elite deferred revenue float; FCF exceeds operating income by >20%
Standard software SBC dilution; modest equity transfer to employees
Elite Tier-1 SaaS compounder with high gross margin and superior Rule of 40
Positive net cash cushion; self-funding operations with zero insolvency risk
Core Investment Strengths & Moats
- High-grade cash conversion: FCF is 578% of EBIT driven by upfront annual collections
- Top-quartile software unit economics: 80.5% gross margin and 46.4% Rule of 40 score
- Net cash positive: $45.1M balance sheet buffer
Key Operational & Dilution Risks
Reverse-DCF Solver: What Growth is Priced Into BTQ?
Market implies 26.9% annual revenue growth over next 5 years (39.0% dilution-adjusted), in line with company run-rate.
Headline Reverse-DCF ignores Stock-Based Compensation (13.4% of revenue) and annual share dilution (1.8%/yr). Accounting for both requires 39.0% 5-year revenue CAGR to justify $5.47/sh on a true per-share economic cash flow basis.
BTQ Technologies Corp. Common Stock (BTQ) 5-Year Fundamental Forecast
| Statement Line Item | TTM Audited Base | TTM | Y1 | Y2 | Y3 | Y4 | Y5 |
|---|---|---|---|---|---|---|---|
| Revenue | $85.1M | $85.1M | $104.4M | $128.1M | $157.2M | $192.9M | $236.7M |
| Gross Profit | $68.5M | $68.5M | $84.1M | $103.1M | $126.6M | $155.3M | $190.5M |
| Operating Income (EBIT) | $3.5M | $3.5M | $4.3M | $5.3M | $6.4M | $7.9M | $9.7M |
| Stock-Based Compensation (SBC) | $11.4M | $11.4M | $14.0M | $17.2M | $21.1M | $25.8M | $31.7M |
| Unlevered Free Cash Flow (FCF) | $20.2M | $20.2M | $24.7M | $30.4M | $37.3M | $45.7M | $56.1M |
| SBC-Adjusted True Cash Flow | $8.8M | $8.8M | $10.8M | $13.2M | $16.2M | $19.9M | $24.4M |
Software & Cloud Services Peer Comparables & Rule of 40 Regression
Rule of 40 vs. EV / Revenue Multiple Regression
OLS Fit: EV/Rev = -29.4 + 0.80 × (Rule of 40) · R² = 80%Stocks below the gold regression line trade at a discount relative to their Rule of 40 compounding efficiency.
| Company | Ticker | Market Cap | TTM Revenue | Gross Margin | FCF Margin | Rule of 40 | SBC % Rev | EV / Rev |
|---|---|---|---|---|---|---|---|---|
| BTQ Technologies Corp. Common Stock | BTQ | $765.9M | $85.1M | 80.5% | 23.7% | 46.4% | 13.4% | 8.5× |
| ServiceNow | NOW | $152.61B | $10.98B | 79.2% | 31.1% | 54.2% | 15.9% | 13.9× |
| Workday, Inc. | WDAY | $50.35B | $8.00B | 75.0% | 27.4% | 43.9% | 19.0% | 6.4× |
| Salesforce | CRM | $217.10B | $37.90B | 77.2% | 32.8% | 42.8% | 8.4% | 5.8× |
| Datadog | DDOG | $46.05B | $2.68B | 80.8% | 31.1% | 57.7% | 21.3% | 17.4× |
| Snowflake Inc. | SNOW | $71.79B | $3.63B | 66.5% | 25.2% | 57.7% | 40.8% | 20.0× |
| Hubspot | HUBS | $19.89B | $2.63B | 85.0% | 21.3% | 52.7% | 19.2% | 7.7× |
| Peer Cohort Median Benchmark (N=6) | 78.2% | 29.2% | 53.5% | 19.1% | 10.8× | |||
EV / Revenue Multiple Compression Stress Test
| Multiple Scenario | EV / Revenue | Implied Enterprise Value | Implied Equity Value | Implied Share Price | Delta vs Current |
|---|---|---|---|---|---|
| Current Multiple | 8.5× | $720.8M | $765.9M | $5.47 | 0.0% |
| -20% Multiple Compression | 6.8× | $576.7M | $621.8M | $4.44 | -20.0% |
| -35% Multiple Compression | 5.5× | $468.5M | $513.6M | $3.67 | -35.0% |
| Software Baseline Floor (5.0× EV/Rev) | 5.0× | $425.5M | $470.6M | $3.36 | -41.0% |
Frequently Asked Questions: BTQ Technologies Corp. Common Stock (BTQ) Valuation
What is BTQ Technologies Corp. Common Stock (BTQ)'s intrinsic DCF valuation and implied share price?
Based on audited SEC 10-K/10-Q filings and a 5-year 3-statement discounted cash flow (DCF) model, BTQ Technologies Corp. Common Stock (BTQ) has a Base Case implied value of $4.73 per share (with a Bear Case of $2.14 and a Bull Case of $8.46), compared to its current price of $5.47. The model discounts projected free cash flows at a 10.0% WACC and a 2.5% terminal growth rate.
What is BTQ Technologies Corp. Common Stock (BTQ)'s Rule of 40 score and Free Cash Flow margin?
BTQ Technologies Corp. Common Stock achieves a Rule of 40 score of 46.4%, combining a 22.7% revenue growth run-rate with a 23.7% TTM free cash flow margin on $85.1M in trailing twelve-month revenue. In the Software & Cloud Services peer cohort, the median Rule of 40 benchmark is 53.5%.
What revenue growth rate is priced into BTQ stock according to Reverse-DCF analysis?
At $5.47 per share (Enterprise Value of $720.8M), our Reverse-DCF solver indicates the market is pricing in a 5-year implied revenue CAGR of 26.9%, compared to BTQ Technologies Corp. Common Stock's historical CAGR of 22.7%. Overall market expectations are rated as "Fairly Priced to Fundamentals".
How does BTQ Technologies Corp. Common Stock compare to Software & Cloud Services software peers?
BTQ Technologies Corp. Common Stock (BTQ) earns an institutional Software Quality Score of 88/100 (Grade A+ — Elite SaaS Compounder). Across its Software & Cloud Services peer group (NOW, WDAY, CRM, DDOG, SNOW), the cohort trades at a median EV/TTM Revenue multiple of 10.8× and a median gross margin of 78.2%.
How does Stock-Based Compensation (SBC) impact BTQ Technologies Corp. Common Stock (BTQ)'s valuation?
BTQ Technologies Corp. Common Stock recorded $11.4M in TTM stock-based compensation (13.4% of revenue). When treating SBC as a cash-equivalent compensation expense, BTQ Technologies Corp. Common Stock's SBC-adjusted free cash flow yield is 1.1%, scoring 16/25 on our Shareholder Dilution Friction pillar.