OraSure Technologies, Inc.

OSUR

HealthcareMedical - Instruments & SuppliesNASDAQ

$3.06

Market Cap: $220.21M

OraSure Technologies, Inc. (OSUR) Valuation Summary

Updated May 11, 2026 12:43

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	$0.07 – $4.20	$0.44	-85.6%
Revenue DCF 10Y	—	N/A	—
▸ Trading Multiples
EV/Revenue	$4.81 – $294.86	$6.74	+120.3%

Valuation History

DCF Analysis

OraSure Technologies, Inc. (OSUR) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$0.44

Market Price

$3.06

Upside / Downside

-85.6%

Verdict

Overvalued

Using a Revenue DCF model with operating margin convergence from -59.2% to a target of 13.2% over 5 years, discounted at a WACC of 8.5%, OraSure Technologies, Inc. (OSUR) has an intrinsic value of $0.44 per share (range: $0.07 – $4.20).

Key Assumptions

Current Operating Margin

-59.2%

Target Operating Margin

13.2%

WACC

8.5%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

8.3%

Target CapEx/Rev

6.1%

D&A/Revenue

4.1%

Tax Rate

4.6%

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	120	4.0%	-44.7%	-54	-54	5	(9)	26	-84	-81
2027	128	7.3%	-30.3%	-39	-39	5	(10)	2	-45	-40
2028	130	0.8%	-15.8%	-20	-20	5	(9)	0	-24	-20
2029	117	-10.0%	-1.3%	-2	-2	5	(8)	-3	-2	-1
2030	105	-10.0%	13.2%	14	13	4	(6)	-3	14	9

Enterprise Value Bridge

Sum of PV(FCFF)-132

Terminal Value (Gordon Growth at 3.0%)256

PV of Terminal Value178

Enterprise Value45

(–) Net Debt13

Equity Value32

(÷) Shares Outstanding73

Fair Value per Share$0.44

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.2%	10.2%	13.2%	16.2%	19.2%
6.5%	$0	$1	$2	$3	$4
7.5%	$-1	$0	$1	$2	$3
8.5%	$-1	$-0	$0	$1	$2
9.5%	$-1	$-1	$0	$1	$1
10.5%	$-1	$-1	$-0	$0	$1

Current price: $3.06. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 21.7% 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

$6.74

Market Price

$3.06

Upside / Downside

+120.3%

Verdict

Undervalued

Using the industry peer median EV/Revenue multiple (trailing + forward), OraSure Technologies, Inc. (OSUR) has a fair value of $6.74 based on 4 comparable companies in the Medical - Instruments & Supplies industry.

EV/Revenue Valuation — Medical - Instruments & Supplies

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
OraSure Technologies, Inc.OSUR	225	2.1x	1.3x
Perspective Therapeutics, Inc.CATX	277	188.5x	—
Profound Medical Corp.PROF	217	8.6x	4.6x
Utah Medical Products, Inc.UTMD	208	3.2x	1.8x
Neuronetics, Inc.STIM	128	1.2x	1.1x
Industry Median		5.9x	1.8x
(*) Revenue		115	186
= Enterprise Value		679	337
(-) Net Debt		13	13
Equity Value		666	324
(/) Outstanding shares		73	73
Fair Price		$9	$4

Selected Fair Value (avg of trailing + forward)

$6.74

+120.3%

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

$0.07 – $4.20

$0.44

-85.6%

Revenue DCF 10Y

—

N/A

—

▸ Trading Multiples

EV/Revenue

$4.81 – $294.86

$6.74

+120.3%

DCF Analysis

OraSure Technologies, Inc. (OSUR) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$0.44

Market Price

$3.06

Upside / Downside

-85.6%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-59.2%

Target Operating Margin

13.2%

WACC

8.5%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

8.3%

Target CapEx/Rev

6.1%

D&A/Revenue

4.1%

Tax Rate

4.6%

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	120	4.0%	-44.7%	-54	-54	5	(9)	26	-84	-81
2027	128	7.3%	-30.3%	-39	-39	5	(10)	2	-45	-40
2028	130	0.8%	-15.8%	-20	-20	5	(9)	0	-24	-20
2029	117	-10.0%	-1.3%	-2	-2	5	(8)	-3	-2	-1
2030	105	-10.0%	13.2%	14	13	4	(6)	-3	14	9

Enterprise Value Bridge

Sum of PV(FCFF)-132

Terminal Value (Gordon Growth at 3.0%)256

PV of Terminal Value178

Enterprise Value45

(–) Net Debt13

Equity Value32

(÷) Shares Outstanding73

Fair Value per Share$0.44

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.2%	10.2%	13.2%	16.2%	19.2%
6.5%	$0	$1	$2	$3	$4
7.5%	$-1	$0	$1	$2	$3
8.5%	$-1	$-0	$0	$1	$2
9.5%	$-1	$-1	$0	$1	$1
10.5%	$-1	$-1	$-0	$0	$1

Current price: $3.06. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 21.7% 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

$6.74

Market Price

$3.06

Upside / Downside

+120.3%

Verdict

Undervalued

EV/Revenue Valuation — Medical - Instruments & Supplies

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
OraSure Technologies, Inc.OSUR	225	2.1x	1.3x
Perspective Therapeutics, Inc.CATX	277	188.5x	—
Profound Medical Corp.PROF	217	8.6x	4.6x
Utah Medical Products, Inc.UTMD	208	3.2x	1.8x
Neuronetics, Inc.STIM	128	1.2x	1.1x
Industry Median		5.9x	1.8x
(*) Revenue		115	186
= Enterprise Value		679	337
(-) Net Debt		13	13
Equity Value		666	324
(/) Outstanding shares		73	73
Fair Price		$9	$4

Selected Fair Value (avg of trailing + forward)

$6.74

+120.3%