Complete FBIO Stock Valuation Analysis
Comprehensive intrinsic value analysis using 2 different methodologies
FBIO DCF Analysis
FBIO (Fortress Biotech, Inc.) discounted cash flow analysis with multiple scenarios, growth assumptions, and terminal value calculations
Financial Projections
| Metrics | 2022 (Historical) | 2023 (Historical) | 2024 (Historical) | 2025 (Projected) | 2026 (Projected) | 2027 (Projected) | 2028 (Projected) | 2029 (Projected) |
|---|---|---|---|---|---|---|---|---|
| Revenue | $75.7M | $84.5M | $57.7M | $56.5M | $55.4M | $54.4M | $53.6M | $52.8M |
| Revenue Growth % | - | 11.6% | -31.8% | -2.1% | -1.9% | -1.7% | -1.5% | -1.4% |
| EBIT | $-202.3M | $-142.3M | $-110.4M | $2.8M | $2.8M | $2.7M | $2.7M | $2.6M |
| EBIT Margin % | -267.0% | -168.4% | -191.4% | 5.0% | 5.0% | 5.0% | 5.0% | 5.0% |
| Tax Rate % | 25.0% | 25.0% | 25.0% | 25.0% | 25.0% | 25.0% | 25.0% | 25.0% |
| NOPAT | $-151.7M | $-106.8M | $-82.8M | $2.1M | $2.1M | $2.0M | $2.0M | $2.0M |
| NOPAT Margin % | -200.3% | -126.3% | -143.5% | 3.8% | 3.8% | 3.8% | 3.8% | 3.8% |
| Capex | $3.1M | $63.0K | $15.0M | $3.7M | $3.5M | $3.2M | $3.0M | $2.8M |
| Capex / Revenue % | 4.0% | 0.1% | 26.0% | 6.6% | 6.3% | 6.0% | 5.7% | 5.4% |
| Depreciation | $9.4M | $6.0M | $4.5M | $5.1M | $5.0M | $4.9M | $4.9M | $4.8M |
| D&A / Revenue % | 12.3% | 7.1% | 7.7% | 9.1% | 9.1% | 9.1% | 9.1% | 9.1% |
| Change in NWC | $-142.7M | $-70.6M | $-13.1M | $0 | $0 | $0 | $0 | $0 |
| NWC Change / Revenue % | -188.4% | -83.5% | -22.8% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Unlevered FCF | $-2.7M | $-30.2M | $-80.2M | $3.5M | $3.6M | $3.7M | $3.8M | $3.9M |
| UFCF % Chg. | - | -1021.7% | -165.3% | 104.4% | 3.3% | 3.0% | 2.7% | 2.5% |
| FCF / Revenue % | -3.6% | -35.8% | -139.0% | 6.2% | 6.5% | 6.8% | 7.1% | 7.4% |
| Discount Factor | - | - | - | 0.925 | 0.856 | 0.792 | 0.733 | 0.678 |
| Present Value of FCF | - | - | - | $3.2M | $3.1M | $3.0M | $2.8M | $2.7M |
| Sum of PV of UFCF | - | - | - | $3.2M | $6.3M | $9.3M | $12.1M | $14.8M |
WACC Calculation
Weighted Average Cost of Capital used for discounting cash flows.
| WACC Calculation | Value |
|---|---|
| Cost of Debt | 6.9% |
| Tax Rate | 25.0% |
| After Tax Cost of Debt | 5.2% |
| Risk Free Rate | 4.37% |
| Market Risk Premium | 4.3% |
| Beta | 1.77 |
| Cost of Equity | 12.0% |
| Total Debt | $76.0M |
| Market Cap | $56.2M |
| Total Capital | $132.1M |
| Debt Weighting | 57.5% |
| Equity Weighting | 42.5% |
| WACC | 8.1% |
Terminal Value
Choose between perpetuity growth or exit multiple methods.
| Terminal Value Calculation | Value |
|---|---|
| Terminal Growth Rate | 2.5% |
| Final Year FCF | $3.9M |
| Terminal Value | $72.1M |
| PV of Terminal Value | $48.9M |
| Cumulative PV of UFCF | $14.8M |
| Net Debt | $18.7M |
| Equity Value | $44.9M |
| Shares Outstanding | 20.8M |
| Implied Share Price | $2 |
| Current Share Price | $2 |
| Implied Upside/(Downside) | +13.8% |
Valuation Summary
$2.16
Implied Price
$1.90
Current Price
+13.8%
Upside/Downside
8.1%
WACC
FBIO Peer Valuation Analysis
Relative valuation based on comparable company trading multiples
Peer Valuation Analysis
Fair Value Range Analysis
Based on median multiples from 8 peer companies in Healthcare
P/E Ratio
$0.00
-100.0%
Peer Median: 0.0x
EV/EBITDA
$0.00
-100.0%
Peer Median: 0.0x
P/S Ratio
$2.19
+15.4%
Peer Median: 1.1x
Interpretation: Each multiple provides a different perspective on fair value. Consider which multiple is most relevant for FBIO's business model and current situation.
Multiple Comparison
| Multiple | FBIO Current | Peer Median | Peer Average | Premium/Discount | Assessment |
|---|---|---|---|---|---|
| P/E Ratio | -1.2x | 0.0x | 0.0x | -Infinity% | Undervalued |
| EV/EBITDA | Infinityx | 0.0x | 0.0x | Infinity% | Overvalued |
| P/S Ratio | 1.0x | 1.1x | 1.6x | -13.3% | Fair Value |
Peer Companies
Click any company to view their valuation
| Company | Market Cap | P/E Ratio | EV/EBITDA | P/S Ratio |
|---|---|---|---|---|
| $0.05B | 0.0x | 0.0x | 2.7x | |
| $0.05B | 0.0x | 0.0x | 284.2x | |
| $0.06B | 0.0x | 0.0x | 0.0x | |
| $0.05B | 0.0x | 0.0x | 198.5x | |
| $0.06B | 0.0x | 0.0x | 1.1x | |
| $0.06B | 0.0x | 0.0x | 1.0x | |
| $0.05B | 0.0x | 0.0x | 46.9x | |
| $0.09B | 0.0x | 0.0x | 74.8x |