MeritValue

Bioventus Inc.

BVSdata completeness 100%7 fiscal years on file

Data notes: no data for concept 'interestExpense'

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$430.9M1$512.1M2$512.3M3$573.3M3$568.1M3
Net income$19.4M4−$158.7M5−$156.2M6−$36.1M6$22.7M6
Operating cash flow$23M7−$13.5M8$15.3M9$38.8M9$74.7M9
Capital expenditure$13.5M10$1.48M11$7.36M12$1.01M12$2.56M12
Free cash flow (derived)$9.47M7−$15M8$7.98M9$37.8M9$72.1M9
Total debt$715.4M13$418.1M14$394.8M15$335.6M16$294M16
Cash & equivalents$43.9M17$30.2M18$37M19$41.6M20$51.2M20
Diluted shares45.5M61.4M62.6M64.5M68.9M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal
If you owned
shares
You’d own
0.000015%
of the whole company
Your share of last year’s profit
$3.3
Your share of its debt
$42.65
Your share of free cash flow
$10.46
iii. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
$30.18
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears10
  • fcfGrowth20.0%
  • fcfBase$37.8M
DCF · Growth Exit 5Y
$14.83
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears5
  • fcfGrowth20.0%
  • fcfBase$37.8M
Earnings Power Value
not applicable
normalized (5y-median) earnings non-positive — EPV undefined
Graham Number
$4.45
assumptions (1)
  • grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

iv. The price question — last, on purpose
What does today’s price assume?
Type a price. The ledger answers.
Or set your own belief
FCF growth, next 5 years20.0%
Discount rate (WACC)8.78%
Terminal growth2.5%
At your growth, a share is worth $14.83

Default growth 20.0%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.

Sources — the receipts
  1. 10-K · period ending 2021-12-31 · accession 0001628280-24-010376 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2022-12-31 · accession 0001628280-25-011831 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2023-12-31 · accession 0001665988-26-000011 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2021-12-31 · accession 0001628280-24-010376 (NetIncomeLoss)
  5. 10-K · period ending 2022-12-31 · accession 0001628280-25-011831 (NetIncomeLoss)
  6. 10-K · period ending 2023-12-31 · accession 0001665988-26-000011 (NetIncomeLoss)
  7. 10-K · period ending 2021-12-31 · accession 0001628280-24-010376 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2022-12-31 · accession 0001628280-25-011831 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2023-12-31 · accession 0001665988-26-000011 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2021-12-31 · accession 0001628280-24-010376 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2022-12-31 · accession 0001628280-25-011831 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 10-K · period ending 2023-12-31 · accession 0001665988-26-000011 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 10-K · period ending 2021-12-31 · accession 0001628280-23-010151 (LongTermDebtNoncurrent)
  14. 10-K · period ending 2022-12-31 · accession 0001628280-24-010376 (LongTermDebtNoncurrent)
  15. 10-K · period ending 2023-12-31 · accession 0001628280-25-011831 (LongTermDebtNoncurrent)
  16. 10-K · period ending 2024-12-31 · accession 0001665988-26-000011 (LongTermDebtNoncurrent)
  17. 10-K · period ending 2021-12-31 · accession 0001628280-23-010151 (CashAndCashEquivalentsAtCarryingValue)
  18. 10-K · period ending 2022-12-31 · accession 0001628280-24-010376 (CashAndCashEquivalentsAtCarryingValue)
  19. 10-K · period ending 2023-12-31 · accession 0001628280-25-011831 (CashAndCashEquivalentsAtCarryingValue)
  20. 10-K · period ending 2024-12-31 · accession 0001665988-26-000011 (CashAndCashEquivalentsAtCarryingValue)