CompaniesFATN
S1Overview
FATN
FatPipe Networks
TechnologySD-WANSASEInsider-Owned
$3.78+2.2%
Market Cap
$55M
SEC 10-Q
P/E (TTM)
10.8×
via financials
Rev Growth YoY
30.0%
+30%SEC filing
Gross Margin
91.0%
SEC filing
FCF Yield
9.0%
calculated
Upside to FV
+64.0%
vs fair value
Conviction
3/5Real SD-WAN/SASE software at 10.8× P/E with +30% revenue, +48% MRR and 54.9% insider ownership.
Research Depth
ScreeningDeep DiveFull Model
Updated 22d ago
S2Thesis
FatPipe sells SD-WAN/SASE networking software. Q3 FY26 revenue +30%, MRR +48%, 91% gross margin, 54.9% insider ownership at a 10.8× multiple. Confirmed as a quality screen after due diligence; Phase 1 deep-dive pending.
Bull Case
[awaiting: bull — Phase 2]Bear Case
[awaiting: bear — Phase 2]S3Key Metrics
Market Cap
$55M
SEC 10-Q
Enterprise Value
$45M
calculated
Revenue (TTM)
$30M
SEC filing
P/E (TTM)
10.8×
via financials
Forward P/E
8.0×
consensus
P/S (TTM)
1.8×
via financials
P/B
2.0×
via financials
EV/EBITDA
7.0×
calculated
PEG
0.3×
calculated
Revenue Growth
30.0%
SEC filing
Gross Margin
91.0%
SEC filing
Operating Margin
18.0%
SEC filing
Net Margin
15.0%
SEC filing
Free Cash Flow
$5M
SEC filing
FCF Yield
9.0%
calculated
Debt / Equity
0.0×
SEC filing
Current Ratio
3.5×
SEC filing
Short Interest
[awaiting: exchange]
exchange
Institutional Own.
[awaiting: 13F]
13F
Insider Own.
54.9%
proxy
Shares Out.
14.0M
SEC filing
Float
6.0M
exchange
S4Valuation
Price vs Fair Value
Valuation pending
Scenario fair-value range awaiting model.
DCF Summary
DCF awaiting Phase 2+
Discounted cash-flow model is built once research reaches Deep Dive.
Historical Multiples
Multiple history pending
This section is being deepened.
Peer Comparison
Peer set pending
Comparable companies awaiting selection.
S5Financials
Income statement pending
Awaiting SEC filing backfill.
Balance sheet pending
Awaiting SEC filing backfill.
Cash flow pending
Awaiting SEC filing backfill.
Phase 1.
S6Catalysts
Catalyst calendar pending
Upcoming events awaiting research.
S7Risks
Risk matrix pending
This section is being deepened.
S8Technical Snapshot
Technical snapshot pending
Price levels and indicators awaiting data.
S9Ownership & Insider Activity
Top Institutional Holders via 13F filings
13F holdings pending
Institutional holder detail awaiting filing.
Insider Activity
Insider transactions pending
This section is being deepened.
S10Peer Comparison
Peer set pending
Comparable companies awaiting selection.
S11Research Notes
2026-05-25Internal
Quality micro-cap
Real software, cheap, insider-aligned. Low float is the main caveat.