Orthofix Medical Inc.

OFIX

HealthcareMedical - DevicesNASDAQ

$11.65

Market Cap: $470.91M

Orthofix Medical Inc. (OFIX) Valuation Summary

Updated May 10, 2026 23:22

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	$0.04 – $61.29	$13.97	+19.9%
Revenue DCF 10Y	$0.13 – $83.67	$21.75	+86.7%
▸ Trading Multiples
EV/Revenue	$49.14 – $140.83	$49.88	+328.2%

Valuation History

DCF Analysis

Orthofix Medical Inc. (OFIX) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$21.75

Market Price

$11.65

Upside / Downside

+86.7%

Verdict

Undervalued

Using a Revenue DCF model with operating margin convergence from -8.3% to a target of 13.2% over 5 years, discounted at a WACC of 8.4%, Orthofix Medical Inc. (OFIX) has an intrinsic value of $21.75 per share (range: $0.13 – $83.67).

Key Assumptions

Current Operating Margin

-8.3%

Target Operating Margin

13.2%

WACC

8.4%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

5.2%

Target CapEx/Rev

9.5%

D&A/Revenue

6.3%

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	854	3.9%	-4.0%	-34	-34	54	(48)	145	-173	-166
2027	906	6.1%	0.3%	3	2	57	(55)	16	-11	-10
2028	958	5.8%	4.6%	44	35	61	(62)	16	17	14
2029	1,032	7.7%	8.9%	92	72	65	(72)	22	44	33
2030	1,087	5.3%	13.2%	143	113	69	(80)	16	86	60
2031	1,231	13.3%	13.2%	162	128	78	(96)	43	67	43
2032	1,369	11.2%	13.2%	181	143	87	(113)	41	75	45
2033	1,495	9.2%	13.2%	197	156	95	(129)	38	84	46
2034	1,601	7.1%	13.2%	211	167	102	(145)	32	91	46
2035	1,682	5.1%	13.2%	222	175	107	(160)	24	98	45

Enterprise Value Bridge

Sum of PV(FCFF)155

Terminal Value (Gordon Growth at 3.0%)1,854

PV of Terminal Value860

Enterprise Value1,015

(–) Net Debt147

Equity Value868

(÷) Shares Outstanding40

Fair Value per Share$21.75

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.2%	10.2%	13.2%	16.2%	19.2%
6.4%	$0	$21	$42	$63	$84
7.4%	$-2	$14	$30	$45	$61
8.4%	$-4	$9	$22	$34	$47
9.4%	$-4	$6	$16	$27	$37
10.4%	$-5	$4	$13	$21	$30

Current price: $11.65. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 30.0% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Orthofix Medical Inc. (OFIX) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$13.97

Market Price

$11.65

Upside / Downside

+19.9%

Verdict

Undervalued

Key Assumptions

Current Operating Margin

-8.3%

Target Operating Margin

13.2%

WACC

8.4%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

5.2%

Target CapEx/Rev

9.5%

D&A/Revenue

6.3%

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	854	3.9%	-4.0%	-34	-34	54	(52)	145	-177	-170
2027	906	6.1%	0.3%	3	2	57	(63)	16	-19	-17
2028	958	5.8%	4.6%	44	35	61	(75)	16	5	4
2029	1,032	7.7%	8.9%	92	72	65	(89)	22	27	20
2030	1,087	5.3%	13.2%	143	113	69	(103)	16	62	43

Enterprise Value Bridge

Sum of PV(FCFF)-119

Terminal Value (Gordon Growth at 3.0%)1,185

PV of Terminal Value823

Enterprise Value704

(–) Net Debt147

Equity Value557

(÷) Shares Outstanding40

Fair Value per Share$13.97

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.2%	10.2%	13.2%	16.2%	19.2%
6.4%	$-3	$13	$29	$45	$61
7.4%	$-5	$7	$20	$32	$44
8.4%	$-6	$4	$14	$24	$34
9.4%	$-7	$2	$10	$18	$27
10.4%	$-7	$0	$7	$14	$21

Current price: $11.65. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 30.0% 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

$49.88

Market Price

$11.65

Upside / Downside

+328.2%

Verdict

Undervalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Orthofix Medical Inc. (OFIX) has a fair value of $49.88 based on 8 comparable companies in the Medical - Devices industry.

EV/Revenue Valuation — Medical - Devices

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Orthofix Medical Inc.OFIX	465	0.7x	0.7x
Avanos Medical, Inc.AVNS	1,161	1.7x	1.8x
Butterfly Network, Inc.BFLY	1,088	9.8x	8.1x
Esperion Therapeutics, Inc.ESPR	653	2.6x	2.7x
SI-BONE, Inc.SIBN	573	2.6x	2.3x
Varex Imaging CorporationVREX	496	0.9x	0.9x
Pacific Biosciences of California, Inc.PACB	426	7.0x	6.4x
Standard BioTools Inc.LAB	398	3.6x	1.8x
DarioHealth Corp.DRIO	57	2.8x	2.4x
Industry Median		2.7x	2.3x
(*) Revenue		822	854
= Enterprise Value		2,238	2,036
(-) Net Debt		147	147
Equity Value		2,091	1,888
(/) Outstanding shares		40	40
Fair Price		$52	$47

Selected Fair Value (avg of trailing + forward)

$49.88

+328.2%

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

$0.04 – $61.29

$13.97

+19.9%

Revenue DCF 10Y

$0.13 – $83.67

$21.75

+86.7%

▸ Trading Multiples

EV/Revenue

$49.14 – $140.83

$49.88

+328.2%

DCF Analysis

Orthofix Medical Inc. (OFIX) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$21.75

Market Price

$11.65

Upside / Downside

+86.7%

Verdict

Undervalued

Key Assumptions

Current Operating Margin

-8.3%

Target Operating Margin

13.2%

WACC

8.4%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

5.2%

Target CapEx/Rev

9.5%

D&A/Revenue

6.3%

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	854	3.9%	-4.0%	-34	-34	54	(48)	145	-173	-166
2027	906	6.1%	0.3%	3	2	57	(55)	16	-11	-10
2028	958	5.8%	4.6%	44	35	61	(62)	16	17	14
2029	1,032	7.7%	8.9%	92	72	65	(72)	22	44	33
2030	1,087	5.3%	13.2%	143	113	69	(80)	16	86	60
2031	1,231	13.3%	13.2%	162	128	78	(96)	43	67	43
2032	1,369	11.2%	13.2%	181	143	87	(113)	41	75	45
2033	1,495	9.2%	13.2%	197	156	95	(129)	38	84	46
2034	1,601	7.1%	13.2%	211	167	102	(145)	32	91	46
2035	1,682	5.1%	13.2%	222	175	107	(160)	24	98	45

Enterprise Value Bridge

Sum of PV(FCFF)155

Terminal Value (Gordon Growth at 3.0%)1,854

PV of Terminal Value860

Enterprise Value1,015

(–) Net Debt147

Equity Value868

(÷) Shares Outstanding40

Fair Value per Share$21.75

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.2%	10.2%	13.2%	16.2%	19.2%
6.4%	$0	$21	$42	$63	$84
7.4%	$-2	$14	$30	$45	$61
8.4%	$-4	$9	$22	$34	$47
9.4%	$-4	$6	$16	$27	$37
10.4%	$-5	$4	$13	$21	$30

Current price: $11.65. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 30.0% 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

$49.88

Market Price

$11.65

Upside / Downside

+328.2%

Verdict

Undervalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Orthofix Medical Inc. (OFIX) has a fair value of $49.88 based on 8 comparable companies in the Medical - Devices industry.

EV/Revenue Valuation — Medical - Devices

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Orthofix Medical Inc.OFIX	465	0.7x	0.7x
Avanos Medical, Inc.AVNS	1,161	1.7x	1.8x
Butterfly Network, Inc.BFLY	1,088	9.8x	8.1x
Esperion Therapeutics, Inc.ESPR	653	2.6x	2.7x
SI-BONE, Inc.SIBN	573	2.6x	2.3x
Varex Imaging CorporationVREX	496	0.9x	0.9x
Pacific Biosciences of California, Inc.PACB	426	7.0x	6.4x
Standard BioTools Inc.LAB	398	3.6x	1.8x
DarioHealth Corp.DRIO	57	2.8x	2.4x
Industry Median		2.7x	2.3x
(*) Revenue		822	854
= Enterprise Value		2,238	2,036
(-) Net Debt		147	147
Equity Value		2,091	1,888
(/) Outstanding shares		40	40
Fair Price		$52	$47

Selected Fair Value (avg of trailing + forward)

$49.88

+328.2%