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DCF valuation

What is Siga Technologies Inc worth?

With the base-case assumptions below, a discounted cash flow model on Siga Technologies Inc's reported free cash flow gives $7.72 per share. The share price was $3.13 on November 10, 2026, 59% below that value.

Inputs from the filings

Free cash flow, fiscal 2025
$43.1M
Average free cash flow, last 5 years
$47.9M
Cash
$116.4M
balance sheet of September 30, 2026
Debt
$0
not reported, counted as 0
Diluted shares, fiscal 2025
71,867,627
Revenue growth per year, last 5 years
-5.4%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear-10.0%-4.0%2.0%10.0%$5.49+76%
Base-5.0%-1.0%2.5%9.0%$7.72+147%
Bull0.0%1.5%3.0%8.0%$11.88+280%

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%$9.21$9.65$10.18$10.85$11.70
8.0%$8.11$8.40$8.73$9.13$9.62
9.0%$7.31$7.50$7.72$7.99$8.29
10.0%$6.69$6.83$6.98$7.16$7.37
11.0%$6.20$6.30$6.41$6.54$6.68

Where the presets come from

Base: years 1 to 5 grow at Siga Technologies Inc's revenue growth rate over the last 5 fiscal years (-5.4% 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

Siga Technologies Inc company page