CPI Aerostructures, Inc.

AI-generated fair value estimate for this company.

Method: 10-year unlevered FCF DCF: normalized FCF base ~$3.0M (estimated from FY2025 ex-A-10 adjusted EBITDA of $5.5M less an estimated ~$1.5M maintenance capex and ~$1.0M cash taxes, since operating cash flow/capex are not separately disclosed); 18% annual FCF growth years 1-5 (margin recovery post-A-10 wind-down plus revenue growth as the $505M backlog converts); 6% years 6-10; 13% discount rate (small-cap, thin liquidity, defense-customer concentration); 2% terminal growth; net debt $17.5M; 13.25M shares outstanding.

Reasoning: CPI Aerostructures carries an unusually large backlog ($505M, roughly 7x current annual revenue) after losing the A-10 program, so most of its near-term value depends on backlog conversion and margin recovery rather than current trailing results; FCF had to be estimated from adjusted EBITDA since it isn't separately disclosed, and a higher discount rate reflects that estimation uncertainty plus the company's thin cash position and customer concentration.