Discounted Cash Flow

Arbutus Biopharma Corp.

ABUS · Based on 10 years of SEC filings · Converted from CAD to USD

⚠ Cash flow predictability 61/100 (moderate) — FCF YoY std dev 43%, net income 50% (full history)

DCF estimate unavailable — No positive free cash flow in recent history — company has not generated positive FCF

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income
Dividends

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $1.1m $-279.0m $-44.9m -25765.5% $-7.24
2017 $7.8m (617.6%) $-61.3m (78.0%) $-40.6m (9.7%) -788.9% (96.9%) $-1.56 (78.5%)
2018 $4.3m (-44.4%) $-41.4m (32.4%) $-50.1m (-23.4%) -959.8% (-21.7%) $-1.21 (22.4%)
2019 $4.4m (1.1%) $-111.6m (-169.4%) $-52.0m (-3.8%) -2557.4% (-166.4%)
2020 $5.0m (15.0%) $-46.3m (58.5%) $-37.5m (27.8%) -922.0% (63.9%)
2021 $8.0m (58.9%) $-55.4m (-19.6%) $-49.6m (-32.3%) -693.9% (24.7%) $-0.83
2022 $28.3m (255.1%) $-50.4m (8.9%) $-26.1m (47.5%) -178.0% (74.3%) $-0.46 (44.6%)
2023 $13.2m (-53.5%) $-52.9m (-4.9%) $-63.1m (-142.4%) -401.6% (-125.6%) $-0.44 (4.3%)
2024 $4.5m (-66.0%) $-50.8m (4.0%) $-47.2m (25.2%) -1133.0% (-182.2%) $-0.38 (13.6%)
2025 $10.2m (128.2%) $-24.3m (52.1%) $-28.8m (39.1%) -237.9% (79.0%) $-0.17 (55.3%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

SEC filings report in CAD. Values above are converted to USD for comparison with the US-listed share price.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model

No positive free cash flow in recent history — company has not generated positive FCF

Once the company meets all DCF eligibility criteria (sufficient history, profitability, growth trends), an estimate will become available automatically. No action is needed.