What is UNITED THERAPEUTICS Corp worth?
With the base-case assumptions below, a discounted cash flow model on UNITED THERAPEUTICS Corp's reported free cash flow gives $755.47 per share. The share price was $475.45 on September 25, 2026, 37% below 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% | $473.80 | -0% |
| Base | 15.0% | 9.0% | $755.47 | +59% |
| Bull | 20.0% | 8.0% | $1,279.97 | +169% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $968.74 | $1,035.23 | $1,116.50 | $1,218.10 | $1,348.71 |
| 8.0% | $808.53 | $851.65 | $902.62 | $963.77 | $1,038.52 |
| 9.0% | $691.97 | $721.45 | $755.47 | $795.16 | $842.07 |
| 10.0% | $603.59 | $624.55 | $648.32 | $675.47 | $706.81 |
| 11.0% | $534.43 | $549.80 | $566.98 | $586.31 | $608.21 |
Where the presets come from
Base: years 1 to 5 grow at UNITED THERAPEUTICS Corp's revenue growth rate over the last 5 fiscal years (16.5% 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