What is Icu Medical Inc worth?
With the base-case assumptions below, a discounted cash flow model on Icu Medical Inc's reported free cash flow gives $63.22 per share. The share price was $164.95 on September 25, 2026, 161% above that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 7.0% | 10.0% | $24.99 | -85% |
| Base | 12.0% | 9.0% | $63.22 | -62% |
| Bull | 17.0% | 8.0% | $139.39 | -15% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $92.36 | $101.37 | $112.39 | $126.15 | $143.86 |
| 8.0% | $70.53 | $76.37 | $83.28 | $91.57 | $101.70 |
| 9.0% | $54.62 | $58.61 | $63.22 | $68.60 | $74.96 |
| 10.0% | $42.53 | $45.37 | $48.59 | $52.27 | $56.52 |
| 11.0% | $33.05 | $35.14 | $37.46 | $40.08 | $43.05 |
Where the presets come from
Base: years 1 to 5 grow at Icu Medical Inc's revenue growth rate over the last 5 fiscal years (11.9% 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