| Intrinsic Valuation of: INSM | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | -6 | Market Cap | $19B | |||||
| 2021 | - | - (-) | P/E Ratio | - | Total Asset | $2B | |||||
| 2022 | $-371M | - (-) | Net Income | $-914M | Total Debt | $1B | |||||
| 2023 | $-410M | -10.7% (15.0%) | EBITDA | $-819M | Total Liab | $2B | |||||
| 2024 | $-550M | -33.9% (-7.7%) | Opr Margin | -2.16 | Debt/Equity | 3.87 | |||||
| 2025 | $-706M | -28.4% (-7.8%) | PreTax Margin | -238.33 | BV/Share | 0 | |||||
| 5Y Average FCF | $-509M | -24.4% (-0.2%) | |||||||||
| Overall Market Assumptions: | |||||||||||
| Assumptions: | P/E for No-Growth Company: | 7.0 | |||||||||
| Perpetual Growth Rate (g): | 2.5% | Historical US Bond Yield: | 4.4% | ||||||||
| Discount Rate (WACC): | 7.4% | Current US Bond Yield: | 3.5% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (4.0%) | ||||||||||
| 2026 | $-529M | MBG Intrinsic Value | $-53 | ||||||||
| 2027 | $-551M | ||||||||||
| 2028 | $-573M | ||||||||||
| 2029 | $-596M | ||||||||||
| 2030 | $-619M | ||||||||||
| 2031 | $-644M | ||||||||||
| Terminal Value | $-13B | Net Worth/Share | $2 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $-11B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $555M | $-63 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $1B | WACC | 7.3% | -56 | -60 | -64 | -70 | -77 | |||
| Equity Value | $-12B | 7.4% | -55 | -59 | -64 | -69 | -76 | ||||
| Shares Outstanding | 189,951,008 | 7.4% | -55 | -59 | -63 | -69 | -75 | ||||
| 7.9% | -51 | -54 | -58 | -62 | -67 | ||||||
| DCF Intrinsic Value | $-63 | 8.4% | -47 | -50 | -53 | -56 | -61 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||