Arteris, Inc.

AI-generated fair value estimate for this company.

Method: 10-year unlevered FCF DCF: revenue base of $84.6M TTM growing from about 30% down to 8% by year 10 as AI-driven semiconductor NoC/IP demand normalizes; FCF margin ramping from 10% to 25% over the period to reflect the operating leverage of an IP-licensing/royalty model with a heavy fixed R&D base; 12% discount rate; 3% terminal growth. Enterprise value of about $633M plus net cash of $113.4M, divided by 49.15M shares outstanding.

Reasoning: Arteris is a real, fast-growing semiconductor system-IP licensor nearing non-GAAP profitability with a strong net-cash balance sheet, so a DCF with explicit margin expansion captures the operating leverage inherent to its royalty/license revenue model.