GMAB

GMAB — Valuation Models

Interactive models with editable assumptions. All calculations run client-side.

Valuation Summary

ModelIntrinsic Valuevs Price ($28.18)
DCF$24.43-13.3%
Graham Number$57.34+103.5%
Reverse DCFimplied g: 7.0%
DDM
EV/EBITDA$2.82-90.0%

Values reflect default assumptions. Adjust inputs in each model below to update.

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: $1.07B
Rev: 3.0% / EPS: -94.4%
Default: 9% (no SEC data)

Results

Intrinsic Value / share$24.43
Current Price$28.18
Upside / Downside-13.3%
Net Debt (used)$3.71B
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term-3.0%1.0%5.0%9.0%13.0%
7.0%$24.69$30.90$38.13$46.49$56.13
8.0%$19.22$24.22$30.03$36.74$44.47
9.0%$15.44$19.60$24.43$30.00$36.41
10.0%$12.66$16.21$20.32$25.06$30.51
11.0%$10.53$13.61$17.18$21.29$26.00

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $1.54
Yahoo: $94.89

Results

Graham Number$57.34
Current Price$28.18
Margin of Safety+103.5%
Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

Default: 9% (no SEC data)

Results

Current Price$28.18
Implied Near-term FCF Growth7.0%
Historical Revenue Growth3.0%
Historical Earnings Growth-94.4%
Base FCF (TTM)$1.07B
Implied growth is the FCF growth rate (yrs 1–5) that makes the DCF intrinsic value equal the current price. Long-term growth is set to half the implied near-term rate.

4 — Dividend Discount Model (DDM)

Assumptions

Yahoo: —

Results

This company does not pay a dividend. DDM is not applicable — the intrinsic value shown uses D0 = $0 unless you enter a hypothetical dividend above.
DDM Intrinsic Value / share
Current Price$28.18
Upside / Downside
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: $1.29B
Current: 4.2×
Default: $3.71B

Results

Implied Equity Value / share$2.82
Current Price$28.18
Upside / Downside-90.0%
Implied EV$5.45B
Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)
Mult \ Net Debt$1.71B$2.71B$3.71B$4.71B$5.71B
0.2x$-2.31$-3.94$-5.56$-7.18$-8.81
2.2x$1.88$0.25$-1.37$-2.99$-4.62
4.2x$6.07$4.44$2.82$1.20$-0.43
6.2x$10.26$8.63$7.01$5.39$3.76
8.2x$14.45$12.83$11.20$9.58$7.95