| Intrinsic Valuation of: UTHR | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 26 | Market Cap | $14B | |||||
| 2021 | - | - (-) | P/E Ratio | 12 | Total Asset | $7B | |||||
| 2022 | $477M | - (-) | Net Income | $1B | Total Debt | $0 | |||||
| 2023 | $664M | 39.0% (21.0%) | EBITDA | $2B | Total Liab | $920M | |||||
| 2024 | $748M | 12.6% (-6.3%) | Opr Margin | 0.50 | Debt/Equity | - | |||||
| 2025 | $1B | 44.5% (16.9%) | PreTax Margin | 48.84 | BV/Share | 140 | |||||
| 5Y Average FCF | $742M | 32.1% (10.5%) | |||||||||
| 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 (25.0%) | ||||||||||
| 2026 | $1B | MBG Intrinsic Value | $229 | ||||||||
| 2027 | $2B | ||||||||||
| 2028 | $2B | ||||||||||
| 2029 | $3B | ||||||||||
| 2030 | $3B | ||||||||||
| 2031 | $4B | ||||||||||
| Terminal Value | $86B | Net Worth/Share | $142 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $67B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $2B | $1,522 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $0 | WACC | 7.3% | 1,328 | 1,431 | 1,556 | 1,709 | 1,901 | |||
| Equity Value | $69B | 7.4% | 1,316 | 1,417 | 1,539 | 1,688 | 1,876 | ||||
| Shares Outstanding | 45,226,300 | 7.4% | 1,304 | 1,403 | 1,522 | 1,668 | 1,851 | ||||
| 7.9% | 1,195 | 1,277 | 1,373 | 1,489 | 1,632 | ||||||
| DCF Intrinsic Value | $1,522 | 8.4% | 1,102 | 1,170 | 1,250 | 1,344 | 1,458 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||