AlphaMadera's AlphaVal page classifies Septerna Inc as a High-Growth Software business and values it using Revenue × Terminal Margin DCF, then compares the result to the current market price to flag SEPN as undervalued, fairly valued, or overvalued.

What is Septerna Inc's fair value?

Fair value for SEPN comes from a Revenue × Terminal Margin DCF model -- the approach AlphaVal selected for this company's High-Growth Software classification. The live AlphaVal page shows bear, base, and bull scenarios alongside the key assumption behind each.

How does AlphaMadera value SEPN?

AlphaVal routes each company to one of ten valuation archetypes based on its business model. SEPN was classified as High-Growth Software and is valued using Revenue × Terminal Margin DCF, built from SEPN's most recent reported fundamentals.

SEPN - Septerna Inc

Price: -- -- | CONSENSUS: Buy DETAILS | PRICE TARGET: $52.00 DETAILS

AlphaVal

Deterministic, archetype-aware fair value

High-Growth Software 80% confidence

Primary model: Revenue × Terminal Margin DCF

Valuation Signal Undervalued Moderate

Trading 27.1% below fair value

Current Price $37.50

Bear Case $30.99 17.4% downside ($30.99 - $37.50) / $37.50 = -17.4% 13% rev growth, 100% terminal margin

Fair Value $51.43 37.2% upside ($51.43 - $37.50) / $37.50 = 37.2% 22% rev growth, 133% terminal margin

Bull Case $75.10 100.3% upside ($75.10 - $37.50) / $37.50 = 100.3% 29% rev growth, 153% terminal margin

Adjust Assumptions

Revenue Growth Rate

22.0%

Terminal FCF Margin

133.0%

Discount Rate

12.0%

Key Value Driver

Revenue growth (22%) × margin expansion to 133%

Terminal Value % of EV 48%

Implied Market Multiple 28.8x

Market is pricing in (growth)

Plain-Language Summary

Projecting 22% revenue growth with FCF margins expanding from 239% to 133% over 10 years, discounted at 12%, the base-case value is $51.43 per share.

Analyst Consensus (External Reference)

Never blended into the bear/base/bull estimates above -- shown only as an outside comparison.

Average Target (9 analysts) $52.00

Analyst Range $43.00 – $60.00

Divergence from AlphaVal 1%

Warnings

ℹ Gross margin of 100% means each dollar of revenue is highly profitable. As the company grows, overhead costs should shrink as a share of revenue, boosting overall profits.

Key Risks

Current FCF misleads — the model values future margins, not today's cash
SBC dilution is the hidden tax: 2-4% annual share growth compounds fast
Revenue deceleration is inevitable — the question is when and how steep