Invesaro

Stocks AORT DCF valuation

DCF valuation

What is Artivion, Inc. worth?

With the base-case assumptions below, a discounted cash flow model on Artivion, Inc.'s reported free cash flow gives -$6.20 per share. The share price was $20.47 on November 10, 2026, 430% below that value.

Inputs from the filings

Free cash flow, fiscal 2025
$839K
Average free cash flow, last 5 years
-$2.1M
Cash
$48.4M
balance sheet of September 30, 2026
Debt
$363.8M
balance sheet of September 30, 2026
Diluted shares, fiscal 2025
47,162,000
Revenue growth per year, last 5 years
11.8%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear7.0%4.5%2.0%10.0%-$6.39-131%
Base12.0%7.0%2.5%9.0%-$6.20-130%
Bull17.0%10.0%3.0%8.0%-$5.83-128%

Sensitivity: base case value per share

Discount rate down the side, growth after year 10 across the top. Everything else as in the base case.

1.5%2.0%2.5%3.0%3.5%
7.0%-$6.06-$6.02-$5.96-$5.90-$5.81
8.0%-$6.17-$6.14-$6.10-$6.06-$6.02
9.0%-$6.24-$6.22-$6.20-$6.18-$6.14
10.0%-$6.30-$6.29-$6.27-$6.25-$6.23
11.0%-$6.35-$6.34-$6.33-$6.31-$6.30

Where the presets come from

Base: years 1 to 5 grow at Artivion, Inc.'s revenue growth rate over the last 5 fiscal years (11.8% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.

Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.

Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.

This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.

Adjust the assumptions

Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.

Adjust the assumptions

Artivion, Inc. company page