Discounted Cash Flow

Heron Therapeutics, Inc. /De/

HRTX · Based on 10 years of SEC filings

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 $1.3m $-173.1m $-137.2m -13537.4%
2017 $30.8m (2305.6%) $-197.5m (-14.1%) $-172.9m (-26.0%) -641.9% (95.3%)
2018 $77.5m (151.8%) $-178.8m (9.4%) $-201.0m (-16.3%) -230.8% (64.0%)
2019 $146.0m (88.4%) $-204.7m (-14.5%) $-131.7m (34.5%) -140.3% (39.2%)
2020 $88.6m (-39.3%) $-227.3m (-11.0%) $-191.6m (-45.5%) -256.4% (-82.8%)
2021 $86.3m (-2.6%) $-220.7m (2.9%) $-206.4m (-7.7%) -255.6% (0.3%) $-2.24
2022 $107.7m (24.7%) $-182.0m (17.5%) $-148.7m (27.9%) -169.1% (33.9%) $-1.67 (25.4%)
2023 $127.0m (18.0%) $-110.6m (39.3%) $-60.3m (59.4%) -87.0% (48.5%) $-0.80 (52.1%)
2024 $144.3m (13.6%) $-13.6m (87.7%) $-24.2m (59.8%) -9.4% (89.2%) $-0.09 (88.8%)
2025 $154.9m (7.4%) $-20.2m (-48.7%) $-27.9m (-15.2%) -13.0% (-38.5%) $-0.12 (-33.3%)

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

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.