Borqs Technologies, Inc.

AI-generated fair value estimate for this company.

Method: 10-year unlevered FCF DCF: $0.5M normalized FCF base (TTM revenue ~$13.6M at ~4% normalized FCF margin); 3% growth yrs 1-5; 2% yrs 6-10; 16% discount rate; 2% terminal growth; $7.9M net cash added; 44.93M shares outstanding.

Reasoning: Borqs Technologies is a distressed OTC microcap IoT/Android software licensing company with highly volatile and declining revenue (from $41.2M in FY2022 to $13.6M TTM) and a history of heavy losses aside from one anomalous profitable year; given elevated going-concern-type and execution risk and thin analyst visibility, FCF is normalized near breakeven and discounted at an above-market rate, with the company's $7.9M net cash (which already exceeds its $3.65M market cap) added back in full.