Invesaro

Stocks SWKHL DCF valuation

DCF valuation

What is SWK Holdings Corp worth?

With the base-case assumptions below, a discounted cash flow model on SWK Holdings Corp's reported free cash flow gives $35.52 per share. The share price was $25.05 on September 25, 2026, 29% below that value.

Inputs from the filings

Free cash flow, fiscal 2025
$26.8M
Average free cash flow, last 5 years
$21M
Cash
$42.8M
balance sheet of December 31, 2025
Debt
$33M
balance sheet of December 31, 2025
Diluted shares, fiscal 2025
12,162,000
Revenue growth per year, last 5 years
2.5%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear-2.5%-0.5%2.0%10.0%$22.38-11%
Base2.5%2.5%2.5%9.0%$35.52+42%
Bull7.5%5.5%3.0%8.0%$61.10+144%

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%$44.76$47.54$50.95$55.21$60.68
8.0%$37.89$39.70$41.83$44.40$47.53
9.0%$32.86$34.09$35.52$37.18$39.15
10.0%$29.02$29.90$30.89$32.03$33.34
11.0%$25.99$26.63$27.35$28.16$29.08

Where the presets come from

Base: years 1 to 5 grow at SWK Holdings Corp's revenue growth rate over the last 5 fiscal years (2.5% 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

SWK Holdings Corp company page