BVS
Bioventus Inc.
$12.13
Stable Earnings Power
80%
P/Adj-EPS × Normalized Multiple
Moderate
·
Conviction
Fair Value
Trading 23.7% below fair value
You pay
$12.13
Bear
$12.72
Fair
$15.90
Bull
$19.09
Bear
$12.72
+4.8%
$0.91 × 14x P/E
Fair
$15.90
+31.1%
$0.91 × 18x P/E
Bull
$19.09
+57.3%
$0.91 × 22x P/E
Key Value Driver
Normalized P/E multiple (18x base case)
Implied Market Multiple
13.4x
Summary
Our base-case estimate uses a valuation based on adjusted earnings per share and a normalized price-to-earnings multiple. We then blend that result with the average analyst price target of $14.00 from 6 analysts, using a 20% weight on analyst consensus. That produces an estimated intrinsic value of $15.90 per share.
Warnings
The company's reported profits differ from official accounting profits by 175%. Check what costs are being left out of the adjusted number.
Key Risks
- Growth DCF inappropriate — terminal value assumptions dominate
- EV/EBITDA misleading for regulated businesses where capex is mandated
- Regulatory risk is a fat tail not visible in normal multiples