LNTH
Lantheus Holdings, Inc.
$104.93
Platform & Compounding FCF
85%
Two-stage FCF DCF
Moderate
·
Conviction
Fair Value
Trading 16.8% below fair value
You pay
$104.93
Bear
$87.22
Fair
$126.19
Bull
$166.41
Bear
$87.22
-16.9%
7% stage 1 growth, 11% discount
Fair
$126.19
+20.3%
12% stage 1 growth, 11% discount
Bull
$166.41
+58.6%
16% stage 1 growth, 11% discount
Key Value Driver
FCF growth rate (12% base case)
Terminal Value % of EV
40%
Implied Market Multiple
20.0x
Market is pricing in (growth)
9.0%
vs 11.9% base
Summary
Our base-case estimate uses a two-stage discounted cash flow model based on free cash flow. We then blend that result with the average analyst price target of $109.75 from 17 analysts, using a 25% weight on analyst consensus. That produces an estimated intrinsic value of $126.19 per share.
Key Risks
- P/E alone misleads — earnings depressed by growth investment
- Cyclical or commodity businesses may be misclassified as platforms
- Terminal value dominance suggests sensitivity to long-run assumptions