INSM — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($146.32)
DCF	$-33559.43	-23035.6%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$534.05M

Near-term growth (yrs 1–5)(%)Rev: 152.6% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 10.66%

Computed WACC: 10.66%

Cost of equity (Re)10.72%(Rf 4.30% + β 1.17 × ERP 5.50%)

Cost of debt (Rd)10.04%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)97.68%

Debt weight (D/V)2.32%

Results

Intrinsic Value / share$-23882.74

Current Price$146.32

Upside / Downside-16422.3%

Net Debt (used)-$680.51M

Sensitivity: WACC (rows) × Near-term g (cols)

WACC \ Near-term	144.6%	148.6%	152.6%	156.6%	160.6%
7.0%	$-47433.10	$-51437.47	$-55707.87	$-60257.34	$-65099.35
8.0%	$-36186.58	$-39240.88	$-42498.07	$-45968.08	$-49661.18
9.0%	$-28576.40	$-30987.84	$-33559.43	$-36299.03	$-39214.73
10.0%	$-23134.42	$-25086.18	$-27167.54	$-29384.85	$-31744.67
11.0%	$-19084.59	$-20694.28	$-22410.84	$-24239.50	$-26185.66

2 — Graham Number

Assumptions

MultiplierGraham used 22.5 (15× P/E × 1.5× P/B)

EPS (trailing)($)Yahoo: $-6.42

Book Value / share($)Yahoo: $3.45

Results

Graham Number requires positive EPS and positive Book Value per share. EPS is zero or negative.

Graham Number—

Current Price$146.32

Margin of Safety—

Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 10.66%

Terminal growth rate(%)

Computed WACC: 10.66%

Cost of equity (Re)10.72%(Rf 4.30% + β 1.17 × ERP 5.50%)

Cost of debt (Rd)10.04%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)97.68%

Debt weight (D/V)2.32%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$146.32

Implied Near-term FCF Growth—

Historical Revenue Growth152.6%

Historical Earnings Growth—

Base FCF (TTM)-$534.05M

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

Annual dividend D0($/share)Yahoo: —

Dividend growth rate (g)(%)

Required return (r)(%)

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$146.32

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$980.46M

Target EV/EBITDA multipleCurrent: -31.5×

Net Debt($B)Default: -$680.51M

Results

Implied Equity Value / share$146.32

Current Price$146.32

Upside / Downside+0.0%

Implied EV$30.86B

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