Intrinsic value of Amicus Therapeutics, Inc. - FOLD

Previous Close

$12.69

  Intrinsic Value

$0.37

stock screener

  Rating & Target

str. sell

-97%

Previous close

$12.69

 
Intrinsic value

$0.37

 
Up/down potential

-97%

 
Rating

str. sell

We calculate the intrinsic value of FOLD stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  146
  225
  336
  488
  689
  947
  1,271
  1,669
  2,147
  2,712
  3,368
  4,117
  4,963
  5,905
  6,943
  8,076
  9,303
  10,622
  12,030
  13,525
  15,106
  16,770
  18,517
  20,345
  22,255
  24,247
  26,321
  28,479
  30,722
  33,054
Variable operating expenses, $m
  2,812
  4,344
  6,496
  9,425
  13,297
  18,280
  24,537
  32,218
  41,457
  52,363
  65,021
  79,495
  95,818
  114,005
  134,049
  155,932
  179,620
  205,077
  232,260
  261,129
  291,646
  323,780
  357,506
  392,808
  429,682
  468,132
  508,174
  549,835
  593,153
  638,177
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  2,812
  4,344
  6,496
  9,425
  13,297
  18,280
  24,537
  32,218
  41,457
  52,363
  65,021
  79,495
  95,818
  114,005
  134,049
  155,932
  179,620
  205,077
  232,260
  261,129
  291,646
  323,780
  357,506
  392,808
  429,682
  468,132
  508,174
  549,835
  593,153
  638,177
Operating income, $m
  -2,667
  -4,119
  -6,160
  -8,937
  -12,609
  -17,333
  -23,266
  -30,550
  -39,310
  -49,651
  -61,654
  -75,378
  -90,855
  -108,100
  -127,106
  -147,855
  -170,317
  -194,455
  -220,230
  -247,604
  -276,541
  -307,010
  -338,989
  -372,463
  -407,426
  -443,885
  -481,853
  -521,356
  -562,431
  -605,123
EBITDA, $m
  -2,660
  -4,109
  -6,145
  -8,917
  -12,580
  -17,294
  -23,214
  -30,482
  -39,223
  -49,541
  -61,519
  -75,213
  -90,657
  -107,864
  -126,829
  -147,532
  -169,945
  -194,030
  -219,749
  -247,063
  -275,937
  -306,340
  -338,249
  -371,650
  -406,537
  -442,916
  -480,801
  -520,218
  -561,203
  -603,802
Interest expense (income), $m
  3
  30
  38
  64
  102
  153
  221
  308
  418
  552
  714
  905
  1,127
  1,380
  1,666
  1,984
  2,335
  2,718
  3,133
  3,578
  4,054
  4,559
  5,094
  5,656
  6,246
  6,864
  7,510
  8,183
  8,884
  9,613
  10,371
Earnings before tax, $m
  -2,696
  -4,157
  -6,224
  -9,039
  -12,762
  -17,555
  -23,575
  -30,967
  -39,862
  -50,365
  -62,559
  -76,504
  -92,235
  -109,766
  -129,090
  -150,190
  -173,035
  -197,587
  -223,808
  -251,658
  -281,100
  -312,104
  -344,645
  -378,709
  -414,291
  -451,395
  -490,036
  -530,240
  -572,044
  -615,494
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -2,696
  -4,157
  -6,224
  -9,039
  -12,762
  -17,555
  -23,575
  -30,967
  -39,862
  -50,365
  -62,559
  -76,504
  -92,235
  -109,766
  -129,090
  -150,190
  -173,035
  -197,587
  -223,808
  -251,658
  -281,100
  -312,104
  -344,645
  -378,709
  -414,291
  -451,395
  -490,036
  -530,240
  -572,044
  -615,494

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  594
  918
  1,373
  1,992
  2,811
  3,864
  5,187
  6,811
  8,764
  11,070
  13,746
  16,806
  20,257
  24,101
  28,339
  32,965
  37,973
  43,355
  49,102
  55,205
  61,656
  68,450
  75,580
  83,043
  90,838
  98,967
  107,432
  116,239
  125,397
  134,916
Adjusted assets (=assets-cash), $m
  594
  918
  1,373
  1,992
  2,811
  3,864
  5,187
  6,811
  8,764
  11,070
  13,746
  16,806
  20,257
  24,101
  28,339
  32,965
  37,973
  43,355
  49,102
  55,205
  61,656
  68,450
  75,580
  83,043
  90,838
  98,967
  107,432
  116,239
  125,397
  134,916
Revenue / Adjusted assets
  0.246
  0.245
  0.245
  0.245
  0.245
  0.245
  0.245
  0.245
  0.245
  0.245
  0.245
  0.245
  0.245
  0.245
  0.245
  0.245
  0.245
  0.245
  0.245
  0.245
  0.245
  0.245
  0.245
  0.245
  0.245
  0.245
  0.245
  0.245
  0.245
  0.245
Average production assets, $m
  175
  270
  403
  585
  826
  1,135
  1,524
  2,001
  2,574
  3,252
  4,038
  4,937
  5,951
  7,080
  8,325
  9,684
  11,155
  12,736
  14,424
  16,217
  18,112
  20,107
  22,202
  24,394
  26,684
  29,072
  31,559
  34,146
  36,836
  39,632
Working capital, $m
  -63
  -97
  -145
  -210
  -297
  -408
  -548
  -719
  -925
  -1,169
  -1,452
  -1,775
  -2,139
  -2,545
  -2,992
  -3,481
  -4,010
  -4,578
  -5,185
  -5,829
  -6,511
  -7,228
  -7,981
  -8,769
  -9,592
  -10,450
  -11,344
  -12,274
  -13,241
  -14,246
Total debt, $m
  410
  701
  1,111
  1,668
  2,405
  3,353
  4,543
  6,005
  7,762
  9,837
  12,246
  15,000
  18,106
  21,566
  25,380
  29,543
  34,050
  38,894
  44,066
  49,559
  55,365
  61,479
  67,896
  74,613
  81,629
  88,945
  96,563
  104,490
  112,732
  121,299
Total liabilities, $m
  535
  826
  1,236
  1,793
  2,530
  3,478
  4,668
  6,130
  7,888
  9,963
  12,371
  15,125
  18,231
  21,691
  25,505
  29,669
  34,176
  39,019
  44,191
  49,684
  55,491
  61,605
  68,022
  74,738
  81,754
  89,070
  96,689
  104,615
  112,858
  121,424
Total equity, $m
  59
  92
  137
  199
  281
  386
  519
  681
  876
  1,107
  1,375
  1,681
  2,026
  2,410
  2,834
  3,297
  3,797
  4,335
  4,910
  5,520
  6,166
  6,845
  7,558
  8,304
  9,084
  9,897
  10,743
  11,624
  12,540
  13,492
Total liabilities and equity, $m
  594
  918
  1,373
  1,992
  2,811
  3,864
  5,187
  6,811
  8,764
  11,070
  13,746
  16,806
  20,257
  24,101
  28,339
  32,966
  37,973
  43,354
  49,101
  55,204
  61,657
  68,450
  75,580
  83,042
  90,838
  98,967
  107,432
  116,239
  125,398
  134,916
Debt-to-equity ratio
  6.890
  7.640
  8.090
  8.370
  8.550
  8.680
  8.760
  8.820
  8.860
  8.890
  8.910
  8.930
  8.940
  8.950
  8.960
  8.960
  8.970
  8.970
  8.970
  8.980
  8.980
  8.980
  8.980
  8.980
  8.990
  8.990
  8.990
  8.990
  8.990
  8.990
Adjusted equity ratio
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -2,696
  -4,157
  -6,224
  -9,039
  -12,762
  -17,555
  -23,575
  -30,967
  -39,862
  -50,365
  -62,559
  -76,504
  -92,235
  -109,766
  -129,090
  -150,190
  -173,035
  -197,587
  -223,808
  -251,658
  -281,100
  -312,104
  -344,645
  -378,709
  -414,291
  -451,395
  -490,036
  -530,240
  -572,044
  -615,494
Depreciation, amort., depletion, $m
  7
  10
  15
  21
  29
  39
  52
  68
  87
  109
  135
  165
  198
  236
  277
  323
  372
  425
  481
  541
  604
  670
  740
  813
  889
  969
  1,052
  1,138
  1,228
  1,321
Funds from operations, $m
  -2,689
  -4,147
  -6,210
  -9,019
  -12,733
  -17,516
  -23,523
  -30,900
  -39,775
  -50,255
  -62,424
  -76,340
  -92,037
  -109,530
  -128,813
  -149,867
  -172,663
  -197,163
  -223,327
  -251,117
  -280,496
  -311,433
  -343,905
  -377,896
  -413,401
  -450,426
  -488,984
  -529,102
  -570,816
  -614,173
Change in working capital, $m
  -24
  -34
  -48
  -65
  -86
  -111
  -140
  -171
  -206
  -243
  -283
  -323
  -364
  -406
  -447
  -488
  -529
  -568
  -607
  -644
  -681
  -717
  -753
  -788
  -823
  -858
  -894
  -930
  -967
  -1,005
Cash from operations, $m
  -2,666
  -4,113
  -6,162
  -8,953
  -12,647
  -17,404
  -23,383
  -30,728
  -39,569
  -50,012
  -62,142
  -76,017
  -91,673
  -109,124
  -128,365
  -149,379
  -172,134
  -196,594
  -222,721
  -250,473
  -279,815
  -310,716
  -343,152
  -377,108
  -412,578
  -449,567
  -488,090
  -528,172
  -569,849
  -613,168
Maintenance CAPEX, $m
  -4
  -6
  -9
  -13
  -20
  -28
  -38
  -51
  -67
  -86
  -108
  -135
  -165
  -198
  -236
  -277
  -323
  -372
  -425
  -481
  -541
  -604
  -670
  -740
  -813
  -889
  -969
  -1,052
  -1,138
  -1,228
New CAPEX, $m
  -65
  -95
  -134
  -182
  -240
  -309
  -389
  -477
  -574
  -677
  -786
  -899
  -1,014
  -1,129
  -1,245
  -1,359
  -1,471
  -1,581
  -1,688
  -1,793
  -1,895
  -1,996
  -2,094
  -2,192
  -2,290
  -2,388
  -2,487
  -2,587
  -2,690
  -2,796
Cash from investing activities, $m
  -69
  -101
  -143
  -195
  -260
  -337
  -427
  -528
  -641
  -763
  -894
  -1,034
  -1,179
  -1,327
  -1,481
  -1,636
  -1,794
  -1,953
  -2,113
  -2,274
  -2,436
  -2,600
  -2,764
  -2,932
  -3,103
  -3,277
  -3,456
  -3,639
  -3,828
  -4,024
Free cash flow, $m
  -2,735
  -4,214
  -6,304
  -9,149
  -12,907
  -17,741
  -23,809
  -31,256
  -40,209
  -50,775
  -63,036
  -77,050
  -92,851
  -110,451
  -129,846
  -151,015
  -173,928
  -198,547
  -224,833
  -252,747
  -282,251
  -313,315
  -345,917
  -380,040
  -415,681
  -452,845
  -491,546
  -531,811
  -573,677
  -617,192
Issuance/(repayment) of debt, $m
  88
  291
  409
  557
  737
  948
  1,190
  1,461
  1,758
  2,075
  2,409
  2,754
  3,106
  3,460
  3,814
  4,163
  4,507
  4,844
  5,172
  5,493
  5,806
  6,114
  6,417
  6,717
  7,016
  7,316
  7,619
  7,927
  8,242
  8,567
Issuance/(repurchase) of shares, $m
  2,831
  4,189
  6,270
  9,101
  12,844
  17,660
  23,707
  31,130
  40,057
  50,596
  62,826
  76,810
  92,580
  110,150
  129,514
  150,653
  173,535
  198,125
  224,383
  252,268
  281,745
  312,783
  345,358
  379,456
  415,070
  452,207
  490,882
  531,121
  572,960
  616,446
Cash from financing (excl. dividends), $m  
  2,919
  4,480
  6,679
  9,658
  13,581
  18,608
  24,897
  32,591
  41,815
  52,671
  65,235
  79,564
  95,686
  113,610
  133,328
  154,816
  178,042
  202,969
  229,555
  257,761
  287,551
  318,897
  351,775
  386,173
  422,086
  459,523
  498,501
  539,048
  581,202
  625,013
Total cash flow (excl. dividends), $m
  184
  267
  375
  510
  674
  867
  1,088
  1,335
  1,606
  1,895
  2,199
  2,514
  2,835
  3,159
  3,482
  3,801
  4,115
  4,422
  4,722
  5,015
  5,301
  5,582
  5,858
  6,132
  6,405
  6,679
  6,955
  7,237
  7,524
  7,821
Retained Cash Flow (-), $m
  -2,831
  -4,189
  -6,270
  -9,101
  -12,844
  -17,660
  -23,707
  -31,130
  -40,057
  -50,596
  -62,826
  -76,810
  -92,580
  -110,150
  -129,514
  -150,653
  -173,535
  -198,125
  -224,383
  -252,268
  -281,745
  -312,783
  -345,358
  -379,456
  -415,070
  -452,207
  -490,882
  -531,121
  -572,960
  -616,446
Prev. year cash balance distribution, $m
  418
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -2,229
  -3,922
  -5,895
  -8,591
  -12,170
  -16,793
  -22,619
  -29,795
  -38,451
  -48,700
  -60,627
  -74,296
  -89,745
  -106,991
  -126,032
  -146,852
  -169,421
  -193,704
  -219,661
  -247,254
  -276,444
  -307,201
  -339,500
  -373,324
  -408,665
  -445,529
  -483,927
  -523,884
  -565,435
  -608,625
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  -2,137
  -3,591
  -5,130
  -7,074
  -9,433
  -12,188
  -15,281
  -18,622
  -22,088
  -25,532
  -28,791
  -31,705
  -34,123
  -35,919
  -37,001
  -37,318
  -36,863
  -35,672
  -33,822
  -31,418
  -28,593
  -25,490
  -22,251
  -19,014
  -15,898
  -12,998
  -10,386
  -8,105
  -6,172
  -4,583
Current shareholders' claim on cash, %
  50.0
  5.3
  0.6
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

Amicus Therapeutics, Inc. is a biotechnology company. The Company is engaged in the discovery, development and commercialization of a set of treatments for patients living with devastating rare and orphan diseases. Its lead product, migalastat HCl is a small molecule that can be used as a monotherapy and in combination with enzyme replacement therapy (ERT) for Fabry disease. Its pipeline also includes SD-101, which is a product candidate in late-stage development, as a potential first-to-market therapy for the chronic, rare connective tissue disorder Epidermolysis Bullosa (EB). It is also leveraging its Chaperone-Advanced Replacement Therapy (CHART) platform technologies to develop ERT products for Pompe disease, Fabry disease, and potentially other lysosomal storage disorders (LSDs). The Company is also investigating preclinical and discovery programs in other rare and devastating diseases, including cyclin-dependent kinase-like 5 (CDKL5) deficiency.

FINANCIAL RATIOS  of  Amicus Therapeutics, Inc. (FOLD)

Valuation Ratios
P/E Ratio -9.1
Price to Sales 362.1
Price to Book 5
Price to Tangible Book
Price to Cash Flow -12
Price to Free Cash Flow -11.5
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 20%
Cap. Spend. - 3 Yr. Gr. Rate 43.1%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 43.1%
Total Debt to Equity 43.1%
Interest Coverage -67
Management Effectiveness
Return On Assets -20.3%
Ret/ On Assets - 3 Yr. Avg. -28%
Return On Total Capital -46.3%
Ret/ On T. Cap. - 3 Yr. Avg. -57.1%
Return On Equity -56.5%
Return On Equity - 3 Yr. Avg. -64.9%
Asset Turnover 0
Profitability Ratios
Gross Margin 80%
Gross Margin - 3 Yr. Avg. 26.7%
EBITDA Margin -3960%
EBITDA Margin - 3 Yr. Avg. -3553.3%
Operating Margin -3900%
Oper. Margin - 3 Yr. Avg. -3600%
Pre-Tax Margin -4080%
Pre-Tax Margin - 3 Yr. Avg. -3693.3%
Net Profit Margin -4000%
Net Profit Margin - 3 Yr. Avg. -3633.3%
Effective Tax Rate 2%
Eff/ Tax Rate - 3 Yr. Avg. 1.1%
Payout Ratio 0%

FOLD stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the FOLD stock intrinsic value calculation we used $91 million for the last fiscal year's total revenue generated by Amicus Therapeutics, Inc.. The default revenue input number comes from 0001 income statement of Amicus Therapeutics, Inc.. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our FOLD stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for FOLD is calculated based on our internal credit rating of Amicus Therapeutics, Inc., is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Amicus Therapeutics, Inc..
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of FOLD stock the variable cost ratio is equal to 1931.9%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for FOLD stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 9.2% for Amicus Therapeutics, Inc..

Corporate tax rate of 27% is the nominal tax rate for Amicus Therapeutics, Inc.. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the FOLD stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for FOLD are equal to 119.9%.

Life of production assets of 49.3 years is the average useful life of capital assets used in Amicus Therapeutics, Inc. operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for FOLD is equal to -43.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $342.912 million for Amicus Therapeutics, Inc. - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 224.150 million for Amicus Therapeutics, Inc. is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Amicus Therapeutics, Inc. at the current share price and the inputted number of shares is $2.8 billion.

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