Discounted Cash Flow

Arbutus Biopharma Corp.

ABUS · Based on 10 years of SEC filings · Converted from CAD to USD

DCF estimate unavailable — No positive free cash flow in recent history — company has not generated positive FCF

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income
Dividends

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $1.5m $-278.5m $-44.9m -18680.5% $-7.24
2017 $10.7m (617.6%) $-61.2m (78.0%) $-40.5m (9.7%) -572.0% (96.9%) $-1.56 (78.5%)
2018 $5.9m (-44.4%) $-41.4m (32.4%) $-50.0m (-23.4%) -695.9% (-21.7%) $-1.21 (22.4%)
2019 $6.0m (1.1%) $-111.5m (-169.4%) $-51.9m (-3.8%) -1854.1% (-166.4%)
2020 $6.9m (15.0%) $-46.2m (58.5%) $-37.5m (27.8%) -668.4% (63.9%)
2021 $11.0m (58.9%) $-55.3m (-19.6%) $-49.5m (-32.3%) -503.1% (24.7%) $-0.83
2022 $39.0m (255.1%) $-50.4m (8.9%) $-26.0m (47.5%) -129.1% (74.3%) $-0.46 (44.6%)
2023 $18.1m (-53.5%) $-52.8m (-4.9%) $-63.0m (-142.4%) -291.1% (-125.6%) $-0.44 (4.3%)
2024 $6.2m (-66.0%) $-50.7m (4.0%) $-47.1m (25.2%) -821.5% (-182.2%) $-0.38 (13.6%)
2025 $14.1m (128.2%) $-24.3m (52.1%) $-28.7m (39.1%) -172.5% (79.0%) $-0.17 (55.3%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

SEC filings report in CAD. Values above are converted to USD for comparison with the US-listed share price.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model

No positive free cash flow in recent history — company has not generated positive FCF

Once the company meets all DCF eligibility criteria (sufficient history, profitability, growth trends), an estimate will become available automatically. No action is needed.