Sections

1. Investment Snapshot

2. Metrics vs Peers

3. NPM Valuation

4. Valuation

Discussion

Inline comments

Investment Snapshot

Metrics vs Peers

NPM Valuation

Valuation

Discussion

Anduril

Research report, target price, DCF and forensic scores are for subscribers. View plans

Investment Snapshot

Symbol

ANDURIL

Offer Range

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Shares Offered

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Market Cap

—

Target Price

Implied Upside vs Midpoint

Description

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Metrics vs Peers

Peers:All IPOs

All

Valuation

Growth

Profitability

Balance sheet

Risk & model

Metric	Value	Peer median	Among peers
9 premium metrics: DCF value / price, Growth the price needs: how common, Last 12 months vs full year and 6 more Unlock

NPM Valuation

Current private-market valuation from Nasdaq Private Market, sourced free via Polymarket. The actual NPM-delivered print (not market-implied odds).

$95B

As of 6/28/2026

Nasdaq Private Market ↗

Valuation

For subscribers

What you need to believe: the growth and margins the price needs, on sliders, against how often companies this size achieved them
Discounted-cash-flow value from the balance sheet and the enterprise value after the offering
Target price with bull, base and bear cases, and the bridge from peer multiples to it

View plans

Discussion

1. Investment Snapshot

2. Thesis

3. Valuation & Price Target

4. Business & Product Moat

5. People & Governance

6. Market & Macro

7. Financial Quality

8. Risk Register

9. Prediction Market

10. 𝕏 Posts

Discussion