bioAffinity Technologies, Inc.

BIAF

HealthcareMedical - Diagnostics & ResearchNASDAQ

$1.88

Market Cap: $8.46M

bioAffinity Technologies, Inc. (BIAF) Valuation Summary

Updated Apr 6, 2026 22:25

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	$436.93 – $1,068.77	$636.35	+15123.8%
Revenue DCF 10Y	$953.48 – $2,873.91	$1,544.05	+36839.1%

Valuation History

DCF Analysis

bioAffinity Technologies, Inc. (BIAF) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$1,544.05

Market Price

$1.88

Upside / Downside

+82030.3%

Verdict

Undervalued

Using a Revenue DCF model with operating margin convergence from -171.6% to a target of 13.3% over 5 years, discounted at a WACC of 8.5%, bioAffinity Technologies, Inc. (BIAF) has an intrinsic value of $1,544.05 per share (range: $953.48 – $2,873.91).

Key Assumptions

Current Operating Margin

-171.6%

Target Operating Margin

13.3%

WACC

8.5%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1145.7%

Target CapEx/Rev

88.7%

D&A/Revenue

59.1%

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	7	18.6%	-134.6%	-10	-10	4	(76)	-125	43	42
2027	9	30.0%	-97.6%	-9	-9	6	(89)	-37	-55	-49
2028	12	30.0%	-60.6%	-7	-7	7	(102)	-49	-54	-44
2029	16	30.0%	-23.6%	-4	-4	9	(116)	-63	-47	-35
2030	21	30.0%	13.3%	3	2	12	(129)	-82	-32	-22
2031	27	30.0%	13.3%	4	3	16	(139)	-107	-13	-8
2032	35	30.0%	13.3%	5	4	21	(143)	-139	21	12
2033	46	30.0%	13.3%	6	5	27	(138)	-181	75	41
2034	60	30.0%	13.3%	8	6	35	(116)	-235	161	80
2035	77	30.0%	13.3%	10	8	46	(69)	-306	291	134

Enterprise Value Bridge

Sum of PV(FCFF)151

Terminal Value (Gordon Growth at 3.0%)5,437

PV of Terminal Value2,501

Enterprise Value2,652

(–) Net Debt-5

Equity Value2,657

(÷) Shares Outstanding2

Fair Value per Share$1,544.05

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.3%	10.3%	13.3%	16.3%	19.3%
6.5%	$2795	$2815	$2834	$2854	$2874
7.5%	$2010	$2025	$2040	$2055	$2069
8.5%	$1521	$1533	$1544	$1556	$1567
9.5%	$1190	$1199	$1209	$1218	$1227
10.5%	$953	$961	$969	$977	$984

Current price: $1.88. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at -1710.5% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

bioAffinity Technologies, Inc. (BIAF) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$636.35

Market Price

$1.88

Upside / Downside

+33748.4%

Verdict

Undervalued

Key Assumptions

Current Operating Margin

-171.6%

Target Operating Margin

13.3%

WACC

8.5%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1145.7%

Target CapEx/Rev

88.7%

D&A/Revenue

59.1%

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	7	18.6%	-134.6%	-10	-10	4	(68)	-125	51	49
2027	9	30.0%	-97.6%	-9	-9	6	(69)	-37	-35	-31
2028	12	30.0%	-60.6%	-7	-7	7	(63)	-49	-15	-12
2029	16	30.0%	-23.6%	-4	-4	9	(48)	-63	21	16
2030	21	30.0%	13.3%	3	2	12	(19)	-82	78	54

Enterprise Value Bridge

Sum of PV(FCFF)76

Terminal Value (Gordon Growth at 3.0%)1,464

PV of Terminal Value1,014

Enterprise Value1,090

(–) Net Debt-5

Equity Value1,095

(÷) Shares Outstanding2

Fair Value per Share$636.35

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.3%	10.3%	13.3%	16.3%	19.3%
6.5%	$1041	$1048	$1055	$1062	$1069
7.5%	$788	$793	$799	$804	$809
8.5%	$628	$632	$636	$641	$645
9.5%	$517	$521	$525	$528	$532
10.5%	$437	$440	$443	$446	$449

Current price: $1.88. Green = undervalued, Red = overvalued.

Working Capital Assumption

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

$436.93 – $1,068.77

$636.35

+15123.8%

Revenue DCF 10Y

$953.48 – $2,873.91

$1,544.05

+36839.1%

DCF Analysis

bioAffinity Technologies, Inc. (BIAF) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$1,544.05

Market Price

$1.88

Upside / Downside

+82030.3%

Verdict

Undervalued

Key Assumptions

Current Operating Margin

-171.6%

Target Operating Margin

13.3%

WACC

8.5%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

1145.7%

Target CapEx/Rev

88.7%

D&A/Revenue

59.1%

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	7	18.6%	-134.6%	-10	-10	4	(76)	-125	43	42
2027	9	30.0%	-97.6%	-9	-9	6	(89)	-37	-55	-49
2028	12	30.0%	-60.6%	-7	-7	7	(102)	-49	-54	-44
2029	16	30.0%	-23.6%	-4	-4	9	(116)	-63	-47	-35
2030	21	30.0%	13.3%	3	2	12	(129)	-82	-32	-22
2031	27	30.0%	13.3%	4	3	16	(139)	-107	-13	-8
2032	35	30.0%	13.3%	5	4	21	(143)	-139	21	12
2033	46	30.0%	13.3%	6	5	27	(138)	-181	75	41
2034	60	30.0%	13.3%	8	6	35	(116)	-235	161	80
2035	77	30.0%	13.3%	10	8	46	(69)	-306	291	134

Enterprise Value Bridge

Sum of PV(FCFF)151

Terminal Value (Gordon Growth at 3.0%)5,437

PV of Terminal Value2,501

Enterprise Value2,652

(–) Net Debt-5

Equity Value2,657

(÷) Shares Outstanding2

Fair Value per Share$1,544.05

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.3%	10.3%	13.3%	16.3%	19.3%
6.5%	$2795	$2815	$2834	$2854	$2874
7.5%	$2010	$2025	$2040	$2055	$2069
8.5%	$1521	$1533	$1544	$1556	$1567
9.5%	$1190	$1199	$1209	$1218	$1227
10.5%	$953	$961	$969	$977	$984

Current price: $1.88. Green = undervalued, Red = overvalued.