BridgeBio Pharma, Inc.

BBIO

HealthcareBiotechnologyNASDAQ

$64.68

Market Cap: $12.67B

BridgeBio Pharma, Inc. (BBIO) Valuation Summary

Updated Apr 6, 2026 22:24

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	—	N/A	—
Revenue DCF 10Y	$1.52 – $91.05	$1.52	-97.9%
▸ Trading Multiples
EV/Revenue	-$1.68 – $13.39	$5.71	-92.1%

Valuation History

DCF Analysis

BridgeBio Pharma, Inc. (BBIO) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$1.52

Market Price

$64.68

Upside / Downside

-97.6%

Verdict

Overvalued

Using a Revenue DCF model with operating margin convergence from -113.3% to a target of 13.3% over 5 years, discounted at a WACC of 7.9%, BridgeBio Pharma, Inc. (BBIO) has an intrinsic value of $1.52 per share (range: $1.52 – $91.05).

Key Assumptions

Current Operating Margin

-113.3%

Target Operating Margin

13.3%

WACC

7.9%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

18.4%

Target CapEx/Rev

27.3%

D&A/Revenue

18.2%

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	919	83.1%	-88.0%	-809	-809	167	(177)	-229	-591	-569
2027	1,602	74.2%	-62.7%	-1,004	-1,004	291	(323)	-73	-963	-859
2028	2,444	52.6%	-37.3%	-913	-913	444	(515)	-90	-893	-738
2029	3,332	36.3%	-12.0%	-400	-400	605	(731)	-95	-430	-330
2030	4,124	23.8%	13.3%	550	435	749	(941)	-85	327	232
2031	5,361	30.0%	13.3%	715	565	974	(1,271)	-133	400	263
2032	6,969	30.0%	13.3%	930	734	1,266	(1,714)	-173	459	280
2033	9,060	30.0%	13.3%	1,208	955	1,646	(2,309)	-224	516	292
2034	11,168	23.3%	13.3%	1,490	1,177	2,029	(2,945)	-226	487	255
2035	12,635	13.1%	13.3%	1,685	1,331	2,295	(3,443)	-157	341	165

Enterprise Value Bridge

Sum of PV(FCFF)-1,008

Terminal Value (Gordon Growth at 3.0%)7,148

PV of Terminal Value3,467

Enterprise Value2,459

(–) Net Debt2,159

Equity Value300

(÷) Shares Outstanding197

Fair Value per Share$1.52

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.3%	10.3%	13.3%	16.3%	19.3%
5.9%	$-24	$-16	$20	$55	$91
6.9%	$-24	$-17	$8	$34	$59
7.9%	$-24	$-18	$2	$21	$40
8.9%	$-24	$-18	$-3	$13	$28
9.9%	$-24	$-19	$-6	$7	$19

Current price: $64.68. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at -10.7% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Trading Multiples

Fair Value

$5.94

Market Price

$64.68

Upside / Downside

-90.8%

Verdict

Overvalued

Using the industry peer median EV/Revenue multiple (trailing + forward), BridgeBio Pharma, Inc. (BBIO) has a fair value of $5.94 based on 5 comparable companies in the Biotechnology industry.

EV/Revenue Valuation — Biotechnology

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
BridgeBio Pharma, Inc.BBIO	12,757	29.7x	15.9x
Moderna, Inc.MRNA	19,261	9.6x	8.9x
Ionis Pharmaceuticals, Inc.IONS	12,279	15.4x	17.7x
Exelixis, Inc.EXEL	11,792	4.9x	4.4x
Jazz Pharmaceuticals plcJAZZ	11,503	3.6x	3.5x
BioMarin Pharmaceutical Inc.BMRN	10,810	3.1x	2.8x
Industry Median		4.9x	4.4x
(*) Revenue		502	939
= Enterprise Value		2,485	4,174
(-) Net Debt		2,159	2,159
Equity Value		326	2,015
(/) Outstanding shares		197	197
Fair Price		$2	$10

Selected Fair Value (avg of trailing + forward)

$5.94

-90.8%

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

—

N/A

—

Revenue DCF 10Y

$1.52 – $91.05

$1.52

-97.9%

▸ Trading Multiples

EV/Revenue

-$1.68 – $13.39

$5.71

-92.1%

DCF Analysis

BridgeBio Pharma, Inc. (BBIO) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$1.52

Market Price

$64.68

Upside / Downside

-97.6%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-113.3%

Target Operating Margin

13.3%

WACC

7.9%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

18.4%

Target CapEx/Rev

27.3%

D&A/Revenue

18.2%

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	919	83.1%	-88.0%	-809	-809	167	(177)	-229	-591	-569
2027	1,602	74.2%	-62.7%	-1,004	-1,004	291	(323)	-73	-963	-859
2028	2,444	52.6%	-37.3%	-913	-913	444	(515)	-90	-893	-738
2029	3,332	36.3%	-12.0%	-400	-400	605	(731)	-95	-430	-330
2030	4,124	23.8%	13.3%	550	435	749	(941)	-85	327	232
2031	5,361	30.0%	13.3%	715	565	974	(1,271)	-133	400	263
2032	6,969	30.0%	13.3%	930	734	1,266	(1,714)	-173	459	280
2033	9,060	30.0%	13.3%	1,208	955	1,646	(2,309)	-224	516	292
2034	11,168	23.3%	13.3%	1,490	1,177	2,029	(2,945)	-226	487	255
2035	12,635	13.1%	13.3%	1,685	1,331	2,295	(3,443)	-157	341	165

Enterprise Value Bridge

Sum of PV(FCFF)-1,008

Terminal Value (Gordon Growth at 3.0%)7,148

PV of Terminal Value3,467

Enterprise Value2,459

(–) Net Debt2,159

Equity Value300

(÷) Shares Outstanding197

Fair Value per Share$1.52

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.3%	10.3%	13.3%	16.3%	19.3%
5.9%	$-24	$-16	$20	$55	$91
6.9%	$-24	$-17	$8	$34	$59
7.9%	$-24	$-18	$2	$21	$40
8.9%	$-24	$-18	$-3	$13	$28
9.9%	$-24	$-19	$-6	$7	$19

Current price: $64.68. Green = undervalued, Red = overvalued.

Working Capital Assumption

Trading Multiples

Fair Value

$5.94

Market Price

$64.68

Upside / Downside

-90.8%

Verdict

Overvalued

Using the industry peer median EV/Revenue multiple (trailing + forward), BridgeBio Pharma, Inc. (BBIO) has a fair value of $5.94 based on 5 comparable companies in the Biotechnology industry.

EV/Revenue Valuation — Biotechnology

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
BridgeBio Pharma, Inc.BBIO	12,757	29.7x	15.9x
Moderna, Inc.MRNA	19,261	9.6x	8.9x
Ionis Pharmaceuticals, Inc.IONS	12,279	15.4x	17.7x
Exelixis, Inc.EXEL	11,792	4.9x	4.4x
Jazz Pharmaceuticals plcJAZZ	11,503	3.6x	3.5x
BioMarin Pharmaceutical Inc.BMRN	10,810	3.1x	2.8x
Industry Median		4.9x	4.4x
(*) Revenue		502	939
= Enterprise Value		2,485	4,174
(-) Net Debt		2,159	2,159
Equity Value		326	2,015
(/) Outstanding shares		197	197
Fair Price		$2	$10

Selected Fair Value (avg of trailing + forward)

$5.94

-90.8%