Aclaris Therapeutics, Inc.

ACRS

HealthcareMedical - Diagnostics & ResearchNASDAQ

$4.88

Market Cap: $588.50M

Aclaris Therapeutics, Inc. (ACRS) Valuation Summary

Updated Apr 28, 2026 22:22

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	$3.88 – $13.06	$6.71	+59.0%
Revenue DCF 10Y	$0.09 – $3.11	$0.93	-77.9%
▸ Trading Multiples
EV/Revenue	$0.19 – $0.69	$0.29	-93.2%

Valuation History

DCF Analysis

Aclaris Therapeutics, Inc. (ACRS) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$0.93

Market Price

$4.88

Upside / Downside

-80.9%

Verdict

Overvalued

Using a Revenue DCF model with operating margin convergence from -975.9% to a target of 13.3% over 5 years, discounted at a WACC of 8.4%, Aclaris Therapeutics, Inc. (ACRS) has an intrinsic value of $0.93 per share (range: $0.09 – $3.11).

Key Assumptions

Current Operating Margin

-975.9%

Target Operating Margin

13.3%

WACC

8.4%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

2.6%

Target CapEx/Rev

8.8%

D&A/Revenue

5.8%

Tax Rate

21.0%

Operating margin fades linearly from the current level to the industry target over the 5-year projection. CapEx intensity fades from the historical average to a maintenance level (D&A × 1.5). Tax is only applied when operating income is positive (NOL shield).

Margin Convergence Projection

USD in millions. Mid-year discounting convention.

Year	Revenue	Growth	Op Margin	Op Income	NOPAT	D&A	CapEx	ΔNWC	FCFF	PV(FCFF)
2026	5	-40.1%	-778.1%	-36	-36	0	(0)	5	-41	-39
2027	5	14.1%	-580.2%	-31	-31	0	(0)	-0	-30	-27
2028	6	15.1%	-382.4%	-24	-24	0	(0)	-1	-23	-19
2029	40	553.0%	-184.5%	-74	-74	2	(2)	-22	-52	-39
2030	130	223.9%	13.3%	17	14	8	(7)	-58	71	50
2031	135	3.6%	13.3%	18	14	8	(8)	-3	17	11
2032	140	3.5%	13.3%	19	15	8	(10)	-3	16	10
2033	144	3.4%	13.3%	19	15	8	(11)	-3	16	9
2034	149	3.2%	13.3%	20	16	9	(12)	-3	15	8
2035	154	3.1%	13.3%	20	16	9	(13)	-3	15	7

Enterprise Value Bridge

Sum of PV(FCFF)-31

Terminal Value (Gordon Growth at 3.0%)277

PV of Terminal Value128

Enterprise Value97

(–) Net Debt-18

Equity Value115

(÷) Shares Outstanding123

Fair Value per Share$0.93

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.3%	10.3%	13.3%	16.3%	19.3%
6.5%	$1	$1	$2	$3	$3
7.4%	$0	$1	$1	$2	$2
8.4%	$0	$1	$1	$1	$2
9.4%	$0	$0	$1	$1	$1
10.4%	$-0	$0	$0	$1	$1

Current price: $4.88. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at -63.9% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Aclaris Therapeutics, Inc. (ACRS) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$6.71

Market Price

$4.88

Upside / Downside

+37.5%

Verdict

Undervalued

Key Assumptions

Current Operating Margin

-975.9%

Target Operating Margin

13.3%

WACC

8.4%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

2.6%

Target CapEx/Rev

8.8%

D&A/Revenue

5.8%

Tax Rate

21.0%

Margin Convergence Projection

USD in millions. Mid-year discounting convention.

Year	Revenue	Growth	Op Margin	Op Income	NOPAT	D&A	CapEx	ΔNWC	FCFF	PV(FCFF)
2026	5	-40.1%	-778.1%	-36	-36	0	(0)	5	-41	-39
2027	5	14.1%	-580.2%	-31	-31	0	(0)	-0	-31	-27
2028	6	15.1%	-382.4%	-24	-24	0	(0)	-1	-23	-19
2029	40	553.0%	-184.5%	-74	-74	2	(3)	-22	-53	-40
2030	130	223.9%	13.3%	17	14	8	(11)	-58	67	47

Enterprise Value Bridge

Sum of PV(FCFF)-78

Terminal Value (Gordon Growth at 3.0%)1,273

PV of Terminal Value884

Enterprise Value805

(–) Net Debt-18

Equity Value823

(÷) Shares Outstanding123

Fair Value per Share$6.71

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.3%	10.3%	13.3%	16.3%	19.3%
6.5%	$11	$11	$12	$12	$13
7.4%	$8	$8	$9	$9	$10
8.4%	$6	$6	$7	$7	$7
9.4%	$5	$5	$5	$6	$6
10.4%	$4	$4	$4	$5	$5

Current price: $4.88. Green = undervalued, Red = overvalued.

Working Capital Assumption

Trading Multiples

Fair Value

$0.30

Market Price

$4.88

Upside / Downside

-93.8%

Verdict

Overvalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Aclaris Therapeutics, Inc. (ACRS) has a fair value of $0.30 based on 7 comparable companies in the Medical - Diagnostics & Research industry.

EV/Revenue Valuation — Medical - Diagnostics & Research

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Aclaris Therapeutics, Inc.ACRS	599	74.2x	101.7x
BioAge Labs, Inc.BIOA	627	49.4x	97.9x
Senseonics Holdings, Inc.SENS	300	8.5x	5.0x
Editas Medicine, Inc.EDIT	299	5.7x	8.9x
908 Devices Inc.MASS	252	2.8x	2.8x
NeoGenomics, Inc.NEO	235	0.8x	0.7x
MDxHealth S.A.MDXH	105	1.6x	1.6x
Exagen Inc.XGN	66	0.6x	0.5x
Industry Median		2.8x	2.8x
(*) Revenue		8	6
= Enterprise Value		22	16
(-) Net Debt		-18	-18
Equity Value		40	34
(/) Outstanding shares		123	123
Fair Price		$0	$0

Selected Fair Value (avg of trailing + forward)

$0.30

-93.8%

Disclaimer: Sweet Value Lab provides estimated intrinsic values for informational purposes only. This is not financial advice. All models rely on assumptions that may not reflect future performance. Always do your own research before making investment decisions.

Model

Range

Fair Value

Upside

▸ Discounted Cash Flow

Revenue DCF 5Y

$3.88 – $13.06

$6.71

+59.0%

Revenue DCF 10Y

$0.09 – $3.11

$0.93

-77.9%

▸ Trading Multiples

EV/Revenue

$0.19 – $0.69

$0.29

-93.2%

DCF Analysis

Aclaris Therapeutics, Inc. (ACRS) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$0.93

Market Price

$4.88

Upside / Downside

-80.9%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-975.9%

Target Operating Margin

13.3%

WACC

8.4%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

2.6%

Target CapEx/Rev

8.8%

D&A/Revenue

5.8%

Tax Rate

21.0%

Margin Convergence Projection

USD in millions. Mid-year discounting convention.

Year	Revenue	Growth	Op Margin	Op Income	NOPAT	D&A	CapEx	ΔNWC	FCFF	PV(FCFF)
2026	5	-40.1%	-778.1%	-36	-36	0	(0)	5	-41	-39
2027	5	14.1%	-580.2%	-31	-31	0	(0)	-0	-30	-27
2028	6	15.1%	-382.4%	-24	-24	0	(0)	-1	-23	-19
2029	40	553.0%	-184.5%	-74	-74	2	(2)	-22	-52	-39
2030	130	223.9%	13.3%	17	14	8	(7)	-58	71	50
2031	135	3.6%	13.3%	18	14	8	(8)	-3	17	11
2032	140	3.5%	13.3%	19	15	8	(10)	-3	16	10
2033	144	3.4%	13.3%	19	15	8	(11)	-3	16	9
2034	149	3.2%	13.3%	20	16	9	(12)	-3	15	8
2035	154	3.1%	13.3%	20	16	9	(13)	-3	15	7

Enterprise Value Bridge

Sum of PV(FCFF)-31

Terminal Value (Gordon Growth at 3.0%)277

PV of Terminal Value128

Enterprise Value97

(–) Net Debt-18

Equity Value115

(÷) Shares Outstanding123

Fair Value per Share$0.93

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.3%	10.3%	13.3%	16.3%	19.3%
6.5%	$1	$1	$2	$3	$3
7.4%	$0	$1	$1	$2	$2
8.4%	$0	$1	$1	$1	$2
9.4%	$0	$0	$1	$1	$1
10.4%	$-0	$0	$0	$1	$1

Current price: $4.88. Green = undervalued, Red = overvalued.

Working Capital Assumption

Trading Multiples

Fair Value

$0.30

Market Price

$4.88

Upside / Downside

-93.8%

Verdict

Overvalued

EV/Revenue Valuation — Medical - Diagnostics & Research

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Aclaris Therapeutics, Inc.ACRS	599	74.2x	101.7x
BioAge Labs, Inc.BIOA	627	49.4x	97.9x
Senseonics Holdings, Inc.SENS	300	8.5x	5.0x
Editas Medicine, Inc.EDIT	299	5.7x	8.9x
908 Devices Inc.MASS	252	2.8x	2.8x
NeoGenomics, Inc.NEO	235	0.8x	0.7x
MDxHealth S.A.MDXH	105	1.6x	1.6x
Exagen Inc.XGN	66	0.6x	0.5x
Industry Median		2.8x	2.8x
(*) Revenue		8	6
= Enterprise Value		22	16
(-) Net Debt		-18	-18
Equity Value		40	34
(/) Outstanding shares		123	123
Fair Price		$0	$0

Selected Fair Value (avg of trailing + forward)

$0.30

-93.8%