Discounted Cash Flow

Phathom Pharmaceuticals, Inc.

PHAT · 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)
2018 $-1.3m $-36.5m $-0.21
2019 $-255.1m (-19708.3%) $-69.8m (-91.2%) $-22.45 (-10590.5%)
2020 $-129.1m (49.4%) $-149.7m (-114.3%) $-3.88 (82.7%)
2021 $-143.9m (-11.5%) $-146.9m (1.9%) $-3.89 (-0.3%)
2022 $0 $-197.7m (-37.4%) $-138.6m (5.6%) $-5.05 (-29.8%)
2023 $682.0k $-201.6m (-2.0%) $-268.4m (-93.6%) -29558.9% $-3.93 (22.2%)
2024 $55.3m (8001.5%) $-334.3m (-65.8%) $-166.9m (37.8%) -605.1% (98.0%) $-5.29 (-34.6%)
2025 $175.1m (216.9%) $-221.2m (33.8%) $-167.0m (-0.1%) -126.3% (79.1%) $-3.03 (42.7%)

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.