What is Mirum Pharmaceuticals, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on Mirum Pharmaceuticals, Inc.'s reported free cash flow gives $42.70 per share. The share price was $89.70 on September 25, 2026, 110% 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 | 10.0% | 10.0% | $28.53 | -68% |
| Base | 15.0% | 9.0% | $42.70 | -52% |
| Bull | 20.0% | 8.0% | $69.09 | -23% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $53.43 | $56.78 | $60.87 | $65.98 | $72.55 |
| 8.0% | $45.37 | $47.54 | $50.11 | $53.18 | $56.95 |
| 9.0% | $39.51 | $40.99 | $42.70 | $44.70 | $47.06 |
| 10.0% | $35.06 | $36.12 | $37.31 | $38.68 | $40.26 |
| 11.0% | $31.58 | $32.36 | $33.22 | $34.19 | $35.30 |
Where the presets come from
Base: years 1 to 5 grow at Mirum Pharmaceuticals, Inc.'s revenue growth rate over the last 4 fiscal years (128.5% 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