DCF Modeling

Interactive valuation analysis: Standalone vs. Synergistic with F5

DCF Assumptions
Adjust key inputs to see how valuations change in real-time
9.0%

Base: 9.0%

18.0%

Base: 18% (startup risk)

2.5%

Base: 2.5%

6.0%

Base: 6.0%

100%

Base: 100%

F5 Networks Standalone DCF Valuation
F5's intrinsic value based on current assumptions

Equity Value

$16.8B

Implied Share Price

$287

Current Price

$259

Implied Upside

+10.7%

Acquisition Targets: Standalone vs. Synergistic Valuation
Standalone DCF: Target's intrinsic value on its own |Synergistic DCF: Value when combined with F5
Target CompanyARR
Standalone DCF
Synergy Value
Synergistic DCF
Uplift %
Target Price
Fit

E2B.dev

AI Code Sandbox Platform

$8M$280M+$225M$505M+80%$393MHIGH

Modal Labs

GPU Serverless Platform

$35M$850M+$350M$1.2B+41%$1.0BHIGH

Fly.io

Global Edge VM Platform

$25M$320M+$200M$520M+63%$420MHIGH

LangChain

AI Orchestration Framework

$50M$1.1B+$400M$1.5B+36%$1.3BMODERATE

LlamaIndex

RAG Framework

$8M$140M+$80M$220M+57%$180MMODERATE

Wasmer

WebAssembly Runtime

$1M$25M+$20M$45M+80%$35MMODERATE

Click on a row to see detailed synergy breakdown below

E2B.dev: Synergy Breakdown
How the synergy value is created when combined with F5

Revenue

$98M

Cost

$23M

Strategic

$75M

$0M$25M$50M$75M$100MRevenueSynergiesCost SynergiesStrategic Value

Strategic Rationale: Direct AI agent infrastructure play, NGINX integration

E2B.dev: Valuation Waterfall
From standalone value to synergistic value to target price
Standalone DCF
$280M
+ Synergy Value
+$225M
Synergistic DCF
$505M
Target Price (50% synergy share)$393M

F5 retains $113M in value creation

All Targets: Standalone vs. Synergistic Comparison
$0M$400M$800M$1200M$1600ME2B.devModal LabsFly.ioLangChainLlamaIndexWasmer
  • Standalone DCF
  • Synergistic DCF
  • Target Price