What is ProShares - UltraShort S&P500 (SDS)'s fair-value range?

EvidInvest reads ProShares - UltraShort S&P500 (SDS)'s market price back into the assumptions behind it — the implied P/E, growth rate and cash yield — using its latest filed financials, then lets you set your own. See the full DCF, Graham number, EPV and multiple-based methods at https://evidinvest.com/valuation/SDS.

How is ProShares - UltraShort S&P500 (SDS)'s fair value calculated?

ProShares - UltraShort S&P500 (SDS)'s fair value is computed with several independent methods — a discounted cash flow (DCF) model, the Graham number, earnings power value (EPV), and valuation multiples (PE, EV/EBITDA, P/S, P/B) benchmarked against its industry — using data from SEC filings.

What is ProShares - UltraShort S&P500 (SDS)'s PE ratio versus its industry?

EvidInvest shows ProShares - UltraShort S&P500 (SDS)'s current and historical PE ratio alongside its sector and industry averages, so you can see whether the stock trades at a premium or discount to peers. Full breakdown at https://evidinvest.com/valuation/SDS.

Fair value · ProShares - UltraShort S&P500 (SDS) · updated 2026-09-13 · from 10-K FY2024

ProShares - UltraShort S&P500 (SDS): not enough filed data to read assumptions out of the price yet.

These methods need positive earnings and cash flow from the company’s SEC filings. The detailed valuation tools below still work with whatever has been filed.

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The filing behind these numbers

ProShares - UltraShort S&P500

Revenue: $615551
Diluted EPS: $-19.86
Free cash flow: $-3.1M; operating cash flow − capital expenditure
Diluted shares: 439351; weighted average

10-K FY2024 · fiscal year ended 2024-12-31 · filed 2024-12-31

Trailing-twelve-month EPS also uses the quarterly 10-Qs through Q3 FY2025 (filed 2025-11-12).

Open the 10-K list on sec.govCIK 1174610

Valuation tool: build your own SDS range

Fair Value Summary

Daily Price — SDS

$71.70 -1.5% (1Y)

Your range0 of 8 methods

At least two methods need a usable value to draw a range with these inputs.

Range with preset inputs

No preset range for this company yet.

The two ranges are identical because every input sits on a preset.

We don’t tell you what SDS is worth. Every tab OPENS on what today’s price implies for that method’s key assumption; you decide whether that assumption is reasonable — the growth matrix has SDS’s filed history and the AI chat will reason it through with you — and the range you build is yours. Our presets are filed history and reference settings, never a recommendation.

Discounted cash flow

N/A

Starting free cash flow is not positive; the model has nothing to grow.

Preset inputs — revenue-driven DCF from the latest filing

• Starting free cash flow is not positive; the model has nothing to grow.

Implied by today’s price

Starting free cash flow is not positive; the model has nothing to grow, so no growth rate reaches the price.

Not solvable from the price — Starting free cash flow is not positive; the model has nothing to grow, so no growth rate reaches the price. Showing preset inputs.

This method has no key input to read out of the price. The others below do, and you set them yourself: the growth matrix shows what SDS has actually filed, and the AI chat will reason it through with you.

Your inputs

Free cash flow grows at your stage-1 rate, then your stage-2 rate, then a terminal rate; everything is discounted at your WACC.

Stage-1 growth5.0%

Yearly free-cash-flow growth for the first stage. Starts below zero so a shrinking-cash-flow case — and the rate today’s price implies — can be set.

-20.0%60.0%

Stage-1 years5 yrs

How long stage-1 growth lasts.

1 yrs10 yrs

Stage-2 growth2.5%

Slower growth after stage 1, before the terminal phase.

-20.0%30.0%

Stage-2 years5 yrs

0 yrs10 yrs

Terminal growth2.5%

Growth forever after the two stages. Above ~3% is rarely justified.

0.0%5.0%

Discount rate (WACC)11.70%

The return you require. Default is the WACC EvidInvest computed for this company. Higher discount rate, lower value.

3.00%15.00%

Net debt ($M)Debt minus cash, from the balance sheet. Subtracted from enterprise value.

Starting FCF ($M)Latest free cash flow from the filing (operating cash flow minus capex).

Shares (M)Diluted shares, from the filing.

Year by year (two-stage model, $M)

PV explicit $-21M · PV terminal $-16M · EV $-37M · equity $-37M

Year	Stage	FCF	Present value
1	Stage 1	$-3M	$-3M
2	Stage 1	$-3M	$-3M
3	Stage 1	$-3M	$-2M
4	Stage 1	$-4M	$-2M
5	Stage 1	$-4M	$-2M
6	Stage 2	$-4M	$-2M
7	Stage 2	$-4M	$-2M
8	Stage 2	$-4M	$-2M
9	Stage 2	$-4M	$-2M
10	Stage 2	$-4M	$-1M

Inputs from the filing

Free cash flow: $-3.7M; sum of the last four quarters
EBIT: $-7.9M; latest annual
Shares: 3.9M
Total debt: $575354
Cash: $181271
Net debt: $394083; debt − cash

10-K FY2024 · period ended 2024-12-31 · filed 2024-12-31 · sec.gov

Prefer a blank slate with reverse DCF? Open the standalone DCF / reverse DCF for SDS

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ProShares - UltraShort S&P500 (SDS): not enough filed data to read assumptions out of the price yet.

The filing behind these numbers

Valuation tool: build your own SDS range

Daily Price — SDS

Your range0 of 8 methods

Range with preset inputs

Your inputs

Year by year (two-stage model, $M)

More on SDS

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Valuation tool: build your own SDS range

Daily Price — SDS

Your range0 of 8 methods

Range with preset inputs

Your inputs

Year by year (two-stage model, $M)

More on SDS

Compare with peers

Explore