PCRX — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($21.28)
DCF	$42.27	+98.6%
Graham Number	$13.35	-37.3%
Reverse DCF	—	implied g: -5.0%
DDM	—	—
EV/EBITDA	$20.96	-1.5%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $108.56M

Near-term growth (yrs 1–5)(%)Rev: 5.1% / EPS: -88.4%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 4.71%

Computed WACC: 4.71%

Cost of equity (Re)5.54%(Rf 4.30% + β 0.23 × ERP 5.50%)

Cost of debt (Rd)3.64%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)68.64%

Debt weight (D/V)31.36%

Results

Intrinsic Value / share$133.78

Current Price$21.28

Upside / Downside+528.7%

Net Debt (used)$179.78M

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

WACC \ Near-term	-2.9%	1.1%	5.1%	9.1%	13.1%
7.0%	$42.62	$52.11	$63.15	$75.93	$90.65
8.0%	$34.25	$41.89	$50.77	$61.02	$72.82
9.0%	$28.45	$34.82	$42.20	$50.71	$60.50
10.0%	$24.20	$29.63	$35.91	$43.16	$51.47
11.0%	$20.94	$25.66	$31.11	$37.39	$44.58

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.47

Book Value / share($)Yahoo: $16.86

Results

Graham Number$13.35

Current Price$21.28

Margin of Safety-37.3%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 4.71%

Terminal growth rate(%)

Computed WACC: 4.71%

Cost of equity (Re)5.54%(Rf 4.30% + β 0.23 × ERP 5.50%)

Cost of debt (Rd)3.64%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)68.64%

Debt weight (D/V)31.36%

Results

Current Price$21.28

Implied Near-term FCF Growth-18.8%

Historical Revenue Growth5.1%

Historical Earnings Growth-88.4%

Base FCF (TTM)$108.56M

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$21.28

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $124.33M

Target EV/EBITDA multipleCurrent: 8.4×

Net Debt($B)Default: $179.78M

Results

Implied Equity Value / share$20.96

Current Price$21.28

Upside / Downside-1.5%

Implied EV$1.04B

Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)

Mult \ Net Debt	-$1.82B	-$820.22M	$179.78M	$1.18B	$2.18B
4.4x	$57.52	$33.19	$8.86	$-15.47	$-39.80
6.4x	$63.57	$39.24	$14.91	$-9.42	$-33.75
8.4x	$69.62	$45.29	$20.96	$-3.37	$-27.70
10.4x	$75.67	$51.34	$27.01	$2.68	$-21.65
12.4x	$81.72	$57.39	$33.06	$8.73	$-15.60

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