Core Laboratories Inc.

AI-generated fair value estimate for this company.

Method: 10-year FCF DCF tied to the oil-services cycle: TTM revenue $519.18M (FY2025 revenue $526.52M, price $10.39, market cap $476.7M, 45.88M shares, total debt $165.1M, cash $22.7M, net debt $142.4M, as of late Sep 2026); revenue modeled to dip ~3% in 2026 to ~$510M (matching analyst consensus of -3.1%), then recover 4-6%/yr through year 5 as activity normalizes, then 3%/yr years 6-10; FCF margin ramps from a trough ~3% (TTM FCF margin is only ~2.1%, i.e. $10.9M FCF on $519M revenue, down from $43.4M FCF / ~8% margin in FY2024) up to a mid-cycle 8% by year 5, held flat thereafter; WACC 11% (cyclicality premium); terminal growth 2%; net debt of $142.4M subtracted; divided by 45.88M shares.

Reasoning: Core Labs' reservoir-description and production-enhancement revenue is highly correlated with global E&P capex and the oil price cycle, and FCF has compressed sharply over the past year as activity softened, so a trough-to-mid-cycle normalized FCF DCF (rather than extrapolating today's depressed ~20x trailing P/E or TTM FCF) better reflects underlying intrinsic value net of the company's ~$142M net debt load.