Better Home & Finance Holding Company

AI-generated fair value estimate for this company.

Method: 10-year DCF on origination-volume-driven revenue: base FY2025 revenue $164.9M grown using BTIG analyst origination volume growth estimates (61% FY26, 49% FY27, 32% FY28) then decelerating to 5%-15% through Year 10 (~$892M), EBITDA margin ramping from -20% to a steady-state 20% as the company reaches its own guided breakeven in Q4 2026 and profitability in 2027, 14% discount rate, 3% terminal growth, plus $102.3M corporate cash (excluding self-liquidating warehouse debt used to fund loans held for sale)

Reasoning: BETR (Better.com) is an unprofitable but fast-growing digital mortgage platform; a volume-driven DCF anchored to sell-side analyst origination forecasts and a realistic margin path to the company's own guided breakeven timeline fits better than a static multiple, and the $33 output is close to BTIG's independently-derived $36 price target, cross-validating the approach