PHAT - NASDAQ

Phathom Pharmaceuticals, Inc.

Phathom Pharmaceuticals, Inc.

PHATยทNASDAQ

$10.09

+4.6%
HealthcareBiotechnology

Phathom Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, focuses on developing and commercializing treatments for gastrointestinal diseases. The company has the rights in the United States, Europe, and Canada to vonoprazan, a potassium-competitive acid blocker (P-CAB) that blocks acid secretion in the stomach. It is also developing vonoprazan, which is in Phase III clinical trials for the treatment of erosive gastroesophageal reflux disease; and in combination with antibiotics for the treatment of Helicobacter pylori infection. Phathom Pharmaceuticals, Inc. was incorporated in 2018 and is headquartered in Florham Park, New Jersey.

StatementsValue Model

At a Glance

Live Snapshot
Market Cap$804.74M
EPS-3.0300
P/E Ratio-3.33
Earnings Date08/06/2026
Phathom Pharmaceuticals, Inc.

Phathom Pharmaceuticals, Inc. Fair Value Envelope

PHAT ยท NASDAQ

Our analysis suggests that PHAT has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $10.09, this represents a potential HIDDEN relative to our calculated worth for Phathom Pharmaceuticals, Inc..

HIDDEN
Intrinsic Value
Current Price: $10.09

Owner Earnings Valuation Tool

Warren Buffett's Owner Earnings DCF analysis for intrinsic value calculation

Historical Financial Data

Base year metrics used for projections

$
%
$
%
$
$

Projection Settings

Forecast period and terminal assumptions

%
%

DCF Valuation Summary

Calculation flow from present value to intrinsic value per share

Present Value-$7.9B
+ Cash & Equivalents$130.0M
Firm Value-$7.8B
- Debt$2.7M
Equity Value-$7.8B
/ Shares Outstanding71,134,736B
DCF Value-$110
OVERVALUED BY 1187%

Owner Earnings Projections

Operating Cash Flow - Maintenance CapEx = Owner Earnings

Metric
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
Year 9
Year 10
Operating Cash Flow
-$229.3M
-$315.4M
-$433.7M
-$596.4M
-$820.1M
-$1.1B
-$1.6B
-$2.1B
-$2.9B
-$4.0B
Maintenance CapEx
-$63.0K
-$86.6K
-$119.1K
-$163.8K
-$225.2K
-$309.7K
-$425.9K
-$585.7K
-$805.4K
-$1.1M
Owner Earnings
-$229.4M
-$315.5M
-$433.8M
-$596.6M
-$820.4M
-$1.1B
-$1.6B
-$2.1B
-$2.9B
-$4.0B
Discount Factor
0.926
0.857
0.794
0.735
0.681
0.630
0.583
0.540
0.500
0.463
Present Value
-$212.4M
-$270.5M
-$344.4M
-$438.5M
-$558.3M
-$710.9M
-$905.2M
-$1.2B
-$1.5B
-$1.9B
Terminal Value represents 0.0% of Enterprise Value
Negative Owner Earnings
This company generates negative free cash flow. Consider adjusting maintenance CapEx percentage or check the financial data.

Related Guides

Blog Categories

Continue your PHAT research with focused valuation guides.

DCF Modeling

Improve assumptions for intrinsic value accuracy.

Forecasting

Calibrate growth paths and terminal value behavior.

WACC

Refine discount-rate logic for valuation quality.

Cost of Capital

Match risk profile to expected return assumptions.

Research Paths

Pick your next lens
1

Snapshot

Start with context, operating signals, and key market metrics.

2

Value Model

Stress test fair value across bear, base, and bull assumptions.

3

Statements

Validate revenue quality, margins, and balance sheet durability.

4

Earnings Call

Read management commentary and compare it with reported outcomes.

5

Dividends

Check payout sustainability and long-term distribution behavior.

6

Analyst Expectations

Review consensus spread and where estimate risk is concentrated.