Mcap Adjusted Revenue

Mcap Adjusted Revenue: Protocol Valuation Analysis

This dashboard ranks DeFi protocols by their 7-day revenue, annualized and then divided by their market capitalization. This custom metric provides a valuation perspective, similar to a Price-to-Sales (P/S) ratio, but focusing on recent revenue generation relative to market value. A lower ratio generally indicates a more 'undervalued' protocol from a revenue perspective.

Understanding the Metric:

The 'Revenue/Mcap (Annualized 7d)' metric is calculated as: (7-day Revenue * 52) / Market Capitalization.

• Purpose: It helps identify protocols that are generating significant revenue relative to their market valuation.
• Interpretation: A higher value suggests the protocol is generating more revenue per unit of market cap, potentially indicating strong fundamental performance or being 'undervalued' compared to its revenue generation. Conversely, a lower value might suggest a protocol is 'overvalued' relative to its current revenue, or that its revenue is not yet reflected in its market cap.

This table is sorted by this custom metric to highlight protocols with the most compelling revenue-to-market cap ratios.