Discounted Cash Flow

Harmony Biosciences Holdings, Inc.

HRMY · Based on 10 years of SEC filings

Average annual growth rates

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

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)
2017 $2.7b $-267.7m $-111.5m -10.1%
2018 $2.5b (-4.6%) $-146.8m (45.2%) $-304.5m (-173.1%) -5.8% (42.5%)
2019 $6.0m (-99.8%) $-152.0m (-3.5%) $-75.6m (75.2%) -2535.1% (-43622.9%)
2020 $159.7m (2564.6%) $-36.9m (75.7%) $-3.0m (96.0%) -23.1% (99.1%)
2021 $305.4m (91.2%) $34.6m (193.6%) $98.3m (3389.6%) 11.3% (149.0%)
2022 $437.9m (43.4%) $181.5m (424.5%) $144.3m (46.9%) 41.4% (265.9%)
2023 $582.0m (32.9%) $128.9m (-29.0%) $219.1m (51.8%) 22.1% (-46.6%)
2024 $714.7m (22.8%) $145.5m (12.9%) $218.7m (-0.2%) 20.4% (-8.1%)
2025 $868.5m (21.5%) $158.7m (9.1%) $347.9m (59.1%) 18.3% (-10.2%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

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