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DCF valuation

What is Repligen Corp worth?

With the base-case assumptions below, a discounted cash flow model on Repligen Corp's reported free cash flow gives $55,834.61 per share. The share price was $189.68 on September 25, 2026, 100% below that value.

Inputs from the filings

Free cash flow, fiscal 2025
$93.9M
Average free cash flow, last 5 years
$92.1M
Cash
$606.8M
balance sheet of June 30, 2026
Debt
$551M
balance sheet of June 30, 2026
Diluted shares, fiscal 2025
56,561
Revenue growth per year, last 5 years
15.0%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear10.0%6.0%2.0%10.0%$34,311.78+17,989%
Base15.0%9.0%2.5%9.0%$55,834.61+29,336%
Bull20.0%11.5%3.0%8.0%$95,910.91+50,465%

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%$72,129.89$77,210.83$83,420.87$91,183.42$101,163.85
8.0%$59,888.71$63,183.69$67,077.75$71,750.63$77,461.93
9.0%$50,982.31$53,235.16$55,834.61$58,867.30$62,451.39
10.0%$44,228.88$45,830.98$47,646.68$49,721.78$52,116.11
11.0%$38,944.62$40,119.13$41,431.83$42,908.60$44,582.29

Where the presets come from

Base: years 1 to 5 grow at Repligen Corp's revenue growth rate over the last 5 fiscal years (15.0% 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

Repligen Corp company page