Pacira BioSciences, Inc. earns about 10% on invested capital, barely covering its ~9% cost of capital, with a roughly flat share count. The estimate methods put fair value between $3.53 and $168.62 a share. Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Revenue | $541.5M1 | $666.8M1 | $675M2 | $701M2 | $726.4M2 |
| Net income | $42M3 | $15.9M4 | $42M5 | −$99.6M5 | $7.03M5 |
| Operating cash flow | $125.7M6 | $145.3M7 | $154.6M8 | $189.4M8 | $152M8 |
| Capital expenditure | $45.9M9 | $30.1M10 | $15.2M11 | $10.6M11 | $15.3M11 |
| Free cash flow (derived) | $79.9M6,9 | $115.2M7,10 | $139.5M8,11 | $178.8M8,11 | $136.7M8,11 |
| Total debt | — | $689.5M12 | $522.4M13 | $585.3M14 | $372.2M14 |
| Cash & equivalents | $585.6M15 | $104.1M16 | $153.3M17 | $276.8M18 | $158.5M18 |
| Diluted shares | 45.6M | 46.5M | 52.0M | 46.2M | 45.0M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom). A derived or summed figure cites every filing line it was built from.
10 shares is a claim on $153.88 of net worth that earned you $1.56 and generated $30.34 of cash last year, against $82.63 of debt.
It earned about 10% on invested capital against a ~9% cost of capital — roughly what it costs to fund the business, so the numbers show no clear edge.
seeing a moat in the numbers →Share count is roughly flat over 5 years — little dilution, little buyback. Total debt has fallen 46% — deleveraging.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
The 3 estimate methods that apply put fair value between $3.53 and $168.62 a share. They rest on different assumptions, so where they diverge is the story; the Graham Number is a conservative ceiling on what a defensive investor should pay, not a target.
assumptions (10)
- Risk-free rate (10Y Treasury)5.00%
- Equity risk premium5.00%
- Beta (β)1.00
- Equity share of capital85.0%
- Debt spread over risk-free1.50%
- Tax rate21.0%
- Terminal growth2.50%
- Projection period10 years
- FCF growth20.0%
- Starting free cash flow$139.5M
assumptions (10)
- Risk-free rate (10Y Treasury)5.00%
- Equity risk premium5.00%
- Beta (β)1.00
- Equity share of capital85.0%
- Debt spread over risk-free1.50%
- Tax rate21.0%
- Terminal growth2.50%
- Projection period5 years
- FCF growth20.0%
- Starting free cash flow$139.5M
assumptions (8)
- Risk-free rate (10Y Treasury)5.00%
- Equity risk premium5.00%
- Beta (β)1.00
- Equity share of capital85.0%
- Debt spread over risk-free1.50%
- Tax rate21.0%
- Normalized earnings$15.9M
- Growth assumed0.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $37.32 |
| Base | 20.0% | $90.84 |
| Bull | 20.0% | $90.84 |
Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.
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.
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Connect the MeritValue MCP server to Claude or another MCP client, ask about Pacira BioSciences, Inc., and get these exact figures with their filing receipts — not an improvised DCF.
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See pricing →Follow PCRX and keep your own price beside the value. The same engine, with the same receipts.
MeritValue on the App Store →- 10-K filed 2024-02-29 · periods ending 2021-12-31, 2022-12-31 · accession 0001396814-24-000030 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K filed 2026-02-26 · periods ending 2023-12-31, 2024-12-31, 2025-12-31 · accession 0001628280-26-012297 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K filed 2024-02-29 · period ending 2021-12-31 · accession 0001396814-24-000030 (NetIncomeLoss)
- 10-K filed 2025-02-27 · period ending 2022-12-31 · accession 0001396814-25-000041 (NetIncomeLoss)
- 10-K filed 2026-02-26 · periods ending 2023-12-31, 2024-12-31, 2025-12-31 · accession 0001628280-26-012297 (NetIncomeLoss)
- 10-K filed 2024-02-29 · period ending 2021-12-31 · accession 0001396814-24-000030 (NetCashProvidedByUsedInOperatingActivities)
- 10-K filed 2025-02-27 · period ending 2022-12-31 · accession 0001396814-25-000041 (NetCashProvidedByUsedInOperatingActivities)
- 10-K filed 2026-02-26 · periods ending 2023-12-31, 2024-12-31, 2025-12-31 · accession 0001628280-26-012297 (NetCashProvidedByUsedInOperatingActivities)
- 10-K filed 2024-02-29 · period ending 2021-12-31 · accession 0001396814-24-000030 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K filed 2025-02-27 · period ending 2022-12-31 · accession 0001396814-25-000041 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K filed 2026-02-26 · periods ending 2023-12-31, 2024-12-31, 2025-12-31 · accession 0001628280-26-012297 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K filed 2024-02-29 · period ending 2022-12-31 · accession 0001396814-24-000030 (LongTermDebt)
- 10-K filed 2025-02-27 · period ending 2023-12-31 · accession 0001396814-25-000041 (LongTermDebt)
- 10-K filed 2026-02-26 · periods ending 2024-12-31, 2025-12-31 · accession 0001628280-26-012297 (LongTermDebt)
- 10-K filed 2023-02-28 · period ending 2021-12-31 · accession 0001396814-23-000010 (CashAndCashEquivalentsAtCarryingValue)
- 10-K filed 2024-02-29 · period ending 2022-12-31 · accession 0001396814-24-000030 (CashAndCashEquivalentsAtCarryingValue)
- 10-K filed 2025-02-27 · period ending 2023-12-31 · accession 0001396814-25-000041 (CashAndCashEquivalentsAtCarryingValue)
- 10-K filed 2026-02-26 · periods ending 2024-12-31, 2025-12-31 · accession 0001628280-26-012297 (CashAndCashEquivalentsAtCarryingValue)