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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 $57,878.90 per share. The share price was $173.98 on November 10, 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
$727M
balance sheet of September 30, 2026
Debt
$555.6M
balance sheet of September 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%$36,356.07+20,797%
Base15.0%9.0%2.5%9.0%$57,878.90+33,168%
Bull20.0%11.5%3.0%8.0%$97,955.20+56,203%

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%$74,174.18$79,255.12$85,465.16$93,227.71$103,208.13
8.0%$61,933.00$65,227.98$69,122.04$73,794.92$79,506.22
9.0%$53,026.60$55,279.45$57,878.90$60,911.59$64,495.67
10.0%$46,273.17$47,875.27$49,690.97$51,766.06$54,160.40
11.0%$40,988.91$42,163.42$43,476.11$44,952.89$46,626.57

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