Intrinsic value of Revance Therapeutics, Inc. - RVNC

Previous Close

$10.86

  Intrinsic Value

$0.83

stock screener

  Rating & Target

str. sell

-92%

Previous close

$10.86

 
Intrinsic value

$0.83

 
Up/down potential

-92%

 
Rating

str. sell

We calculate the intrinsic value of RVNC 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 0.5

 

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
  6
  10
  15
  21
  30
  42
  56
  73
  94
  119
  148
  181
  218
  260
  305
  355
  409
  467
  529
  595
  664
  737
  814
  894
  978
  1,066
  1,157
  1,252
  1,350
  1,453
Variable operating expenses, $m
  590
  912
  1,364
  1,979
  2,793
  3,839
  5,153
  6,766
  8,707
  10,997
  13,656
  16,696
  20,124
  23,944
  28,154
  32,750
  37,725
  43,071
  48,781
  54,844
  61,253
  68,002
  75,085
  82,500
  90,244
  98,320
  106,729
  115,479
  124,577
  134,033
Fixed operating expenses, $m
  101
  103
  106
  108
  110
  113
  115
  118
  120
  123
  126
  129
  131
  134
  137
  140
  143
  146
  150
  153
  156
  160
  163
  167
  171
  174
  178
  182
  186
  190
Total operating expenses, $m
  691
  1,015
  1,470
  2,087
  2,903
  3,952
  5,268
  6,884
  8,827
  11,120
  13,782
  16,825
  20,255
  24,078
  28,291
  32,890
  37,868
  43,217
  48,931
  54,997
  61,409
  68,162
  75,248
  82,667
  90,415
  98,494
  106,907
  115,661
  124,763
  134,223
Operating income, $m
  -685
  -1,006
  -1,455
  -2,066
  -2,873
  -3,910
  -5,213
  -6,811
  -8,733
  -11,001
  -13,634
  -16,644
  -20,037
  -23,819
  -27,986
  -32,535
  -37,459
  -42,751
  -48,401
  -54,402
  -60,746
  -67,425
  -74,435
  -81,772
  -89,436
  -97,428
  -105,751
  -114,410
  -123,413
  -132,771
EBITDA, $m
  -682
  -1,001
  -1,449
  -2,057
  -2,860
  -3,892
  -5,189
  -6,779
  -8,692
  -10,950
  -13,570
  -16,566
  -19,944
  -23,707
  -27,855
  -32,382
  -37,284
  -42,550
  -48,174
  -54,147
  -60,461
  -67,108
  -74,085
  -81,388
  -89,017
  -96,971
  -105,254
  -113,872
  -122,833
  -132,147
Interest expense (income), $m
  1
  0
  2
  5
  10
  17
  26
  37
  51
  68
  89
  114
  142
  175
  212
  253
  298
  348
  401
  459
  520
  585
  654
  727
  803
  883
  966
  1,053
  1,143
  1,237
  1,335
Earnings before tax, $m
  -685
  -1,008
  -1,460
  -2,076
  -2,890
  -3,936
  -5,250
  -6,862
  -8,801
  -11,090
  -13,748
  -16,786
  -20,213
  -24,031
  -28,239
  -32,833
  -37,807
  -43,152
  -48,860
  -54,922
  -61,331
  -68,079
  -75,162
  -82,575
  -90,319
  -98,394
  -106,803
  -115,553
  -124,650
  -134,106
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
  -685
  -1,008
  -1,460
  -2,076
  -2,890
  -3,936
  -5,250
  -6,862
  -8,801
  -11,090
  -13,748
  -16,786
  -20,213
  -24,031
  -28,239
  -32,833
  -37,807
  -43,152
  -48,860
  -54,922
  -61,331
  -68,079
  -75,162
  -82,575
  -90,319
  -98,394
  -106,803
  -115,553
  -124,650
  -134,106

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
  131
  202
  302
  438
  618
  849
  1,140
  1,497
  1,926
  2,433
  3,021
  3,694
  4,452
  5,297
  6,228
  7,245
  8,346
  9,529
  10,792
  12,133
  13,551
  15,044
  16,611
  18,251
  19,964
  21,751
  23,611
  25,547
  27,560
  29,652
Adjusted assets (=assets-cash), $m
  131
  202
  302
  438
  618
  849
  1,140
  1,497
  1,926
  2,433
  3,021
  3,694
  4,452
  5,297
  6,228
  7,245
  8,346
  9,529
  10,792
  12,133
  13,551
  15,044
  16,611
  18,251
  19,964
  21,751
  23,611
  25,547
  27,560
  29,652
Revenue / Adjusted assets
  0.046
  0.050
  0.050
  0.048
  0.049
  0.049
  0.049
  0.049
  0.049
  0.049
  0.049
  0.049
  0.049
  0.049
  0.049
  0.049
  0.049
  0.049
  0.049
  0.049
  0.049
  0.049
  0.049
  0.049
  0.049
  0.049
  0.049
  0.049
  0.049
  0.049
Average production assets, $m
  19
  29
  44
  64
  90
  123
  165
  217
  280
  353
  438
  536
  646
  769
  904
  1,052
  1,211
  1,383
  1,566
  1,761
  1,967
  2,183
  2,411
  2,649
  2,898
  3,157
  3,427
  3,708
  4,000
  4,304
Working capital, $m
  -1
  -1
  -2
  -3
  -4
  -6
  -8
  -11
  -14
  -18
  -22
  -27
  -32
  -38
  -45
  -53
  -61
  -69
  -78
  -88
  -98
  -109
  -120
  -132
  -145
  -158
  -171
  -185
  -200
  -215
Total debt, $m
  37
  101
  191
  313
  475
  684
  945
  1,266
  1,653
  2,109
  2,638
  3,244
  3,926
  4,687
  5,525
  6,440
  7,430
  8,495
  9,632
  10,839
  12,115
  13,459
  14,869
  16,345
  17,887
  19,495
  21,170
  22,912
  24,723
  26,606
Total liabilities, $m
  118
  182
  272
  394
  556
  764
  1,026
  1,347
  1,734
  2,190
  2,719
  3,324
  4,007
  4,767
  5,606
  6,521
  7,511
  8,576
  9,712
  10,920
  12,196
  13,539
  14,950
  16,426
  17,968
  19,576
  21,250
  22,992
  24,804
  26,687
Total equity, $m
  13
  20
  30
  44
  62
  85
  114
  150
  193
  243
  302
  369
  445
  530
  623
  725
  835
  953
  1,079
  1,213
  1,355
  1,504
  1,661
  1,825
  1,996
  2,175
  2,361
  2,555
  2,756
  2,965
Total liabilities and equity, $m
  131
  202
  302
  438
  618
  849
  1,140
  1,497
  1,927
  2,433
  3,021
  3,693
  4,452
  5,297
  6,229
  7,246
  8,346
  9,529
  10,791
  12,133
  13,551
  15,043
  16,611
  18,251
  19,964
  21,751
  23,611
  25,547
  27,560
  29,652
Debt-to-equity ratio
  2.820
  5.000
  6.330
  7.160
  7.690
  8.050
  8.290
  8.460
  8.580
  8.670
  8.730
  8.780
  8.820
  8.850
  8.870
  8.890
  8.900
  8.920
  8.930
  8.930
  8.940
  8.950
  8.950
  8.960
  8.960
  8.960
  8.970
  8.970
  8.970
  8.970
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
  -685
  -1,008
  -1,460
  -2,076
  -2,890
  -3,936
  -5,250
  -6,862
  -8,801
  -11,090
  -13,748
  -16,786
  -20,213
  -24,031
  -28,239
  -32,833
  -37,807
  -43,152
  -48,860
  -54,922
  -61,331
  -68,079
  -75,162
  -82,575
  -90,319
  -98,394
  -106,803
  -115,553
  -124,650
  -134,106
Depreciation, amort., depletion, $m
  3
  4
  6
  9
  13
  18
  24
  31
  41
  51
  64
  78
  94
  111
  131
  152
  176
  200
  227
  255
  285
  316
  349
  384
  420
  458
  497
  537
  580
  624
Funds from operations, $m
  -682
  -1,003
  -1,454
  -2,067
  -2,877
  -3,918
  -5,226
  -6,830
  -8,761
  -11,039
  -13,684
  -16,708
  -20,119
  -23,919
  -28,108
  -32,681
  -37,631
  -42,952
  -48,633
  -54,667
  -61,046
  -67,763
  -74,812
  -82,191
  -89,899
  -97,937
  -106,307
  -115,015
  -124,071
  -133,482
Change in working capital, $m
  0
  -1
  -1
  -1
  -1
  -2
  -2
  -3
  -3
  -4
  -4
  -5
  -6
  -6
  -7
  -7
  -8
  -9
  -9
  -10
  -10
  -11
  -11
  -12
  -12
  -13
  -13
  -14
  -15
  -15
Cash from operations, $m
  -682
  -1,003
  -1,453
  -2,066
  -2,875
  -3,916
  -5,223
  -6,828
  -8,758
  -11,036
  -13,680
  -16,703
  -20,113
  -23,913
  -28,101
  -32,673
  -37,623
  -42,943
  -48,624
  -54,657
  -61,036
  -67,752
  -74,801
  -82,180
  -89,887
  -97,924
  -106,293
  -115,001
  -124,056
  -133,467
Maintenance CAPEX, $m
  -2
  -3
  -4
  -6
  -9
  -13
  -18
  -24
  -31
  -41
  -51
  -64
  -78
  -94
  -111
  -131
  -152
  -176
  -200
  -227
  -255
  -285
  -316
  -349
  -384
  -420
  -458
  -497
  -537
  -580
New CAPEX, $m
  -7
  -10
  -15
  -20
  -26
  -34
  -42
  -52
  -62
  -74
  -85
  -98
  -110
  -123
  -135
  -148
  -160
  -172
  -183
  -195
  -206
  -217
  -227
  -238
  -249
  -259
  -270
  -281
  -292
  -304
Cash from investing activities, $m
  -9
  -13
  -19
  -26
  -35
  -47
  -60
  -76
  -93
  -115
  -136
  -162
  -188
  -217
  -246
  -279
  -312
  -348
  -383
  -422
  -461
  -502
  -543
  -587
  -633
  -679
  -728
  -778
  -829
  -884
Free cash flow, $m
  -691
  -1,016
  -1,472
  -2,092
  -2,911
  -3,963
  -5,283
  -6,904
  -8,851
  -11,150
  -13,817
  -16,865
  -20,301
  -24,129
  -28,348
  -32,952
  -37,936
  -43,290
  -49,008
  -55,079
  -61,497
  -68,253
  -75,345
  -82,767
  -90,519
  -98,603
  -107,021
  -115,779
  -124,885
  -134,350
Issuance/(repayment) of debt, $m
  37
  64
  90
  122
  162
  208
  262
  321
  386
  456
  529
  605
  683
  761
  838
  915
  991
  1,065
  1,137
  1,207
  1,276
  1,344
  1,410
  1,476
  1,542
  1,608
  1,674
  1,742
  1,811
  1,883
Issuance/(repurchase) of shares, $m
  697
  1,015
  1,470
  2,090
  2,908
  3,959
  5,279
  6,898
  8,844
  11,141
  13,807
  16,853
  20,288
  24,115
  28,332
  32,935
  37,917
  43,270
  48,986
  55,056
  61,473
  68,228
  75,318
  82,739
  90,490
  98,573
  106,989
  115,746
  124,851
  134,315
Cash from financing (excl. dividends), $m  
  734
  1,079
  1,560
  2,212
  3,070
  4,167
  5,541
  7,219
  9,230
  11,597
  14,336
  17,458
  20,971
  24,876
  29,170
  33,850
  38,908
  44,335
  50,123
  56,263
  62,749
  69,572
  76,728
  84,215
  92,032
  100,181
  108,663
  117,488
  126,662
  136,198
Total cash flow (excl. dividends), $m
  43
  63
  88
  120
  159
  204
  257
  315
  379
  448
  519
  594
  670
  746
  823
  898
  972
  1,045
  1,115
  1,185
  1,252
  1,319
  1,384
  1,449
  1,513
  1,578
  1,643
  1,710
  1,778
  1,848
Retained Cash Flow (-), $m
  -697
  -1,015
  -1,470
  -2,090
  -2,908
  -3,959
  -5,279
  -6,898
  -8,844
  -11,141
  -13,807
  -16,853
  -20,288
  -24,115
  -28,332
  -32,935
  -37,917
  -43,270
  -48,986
  -55,056
  -61,473
  -68,228
  -75,318
  -82,739
  -90,490
  -98,573
  -106,989
  -115,746
  -124,851
  -134,315
Prev. year cash balance distribution, $m
  145
  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
  -510
  -952
  -1,382
  -1,970
  -2,749
  -3,755
  -5,022
  -6,582
  -8,465
  -10,694
  -13,287
  -16,259
  -19,619
  -23,369
  -27,510
  -32,037
  -36,945
  -42,226
  -47,871
  -53,872
  -60,220
  -66,910
  -73,934
  -81,291
  -88,977
  -96,995
  -105,346
  -114,037
  -123,074
  -132,467
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
  -488
  -871
  -1,203
  -1,622
  -2,131
  -2,725
  -3,393
  -4,114
  -4,863
  -5,606
  -6,310
  -6,938
  -7,459
  -7,845
  -8,076
  -8,141
  -8,039
  -7,776
  -7,371
  -6,845
  -6,229
  -5,552
  -4,846
  -4,140
  -3,461
  -2,830
  -2,261
  -1,764
  -1,343
  -997
Current shareholders' claim on cash, %
  0.5
  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
  0.0
  0.0
  0.0

Revance Therapeutics, Inc. is a clinical-stage biotechnology company. The Company is focused on the development, manufacturing and commercialization of botulinum toxin products for multiple aesthetic and therapeutic indications. Its peptide technology enables delivery of botulinum toxin type A through two investigational drug product candidates, DaxibotulinumtoxinA for Injection (RT002), or RT002 injectable, and DaxibotulinumtoxinA Topical Gel (RT001), or RT001 topical. It is engaged in the clinical development for RT002 injectable. RT002 injectable utilizes botulinum toxin-peptide complex in a saline-based formulation. In RT002 injectable, the peptide interacts with both extracellular structures and cell surface receptors in the targeted muscle. This interaction restricts the toxin molecule to the target site and reduces unwanted spread to other neighboring muscles. It is focusing on developing RT002 for the treatment of glabellar lines, cervical dystonia and plantar fasciitis.

FINANCIAL RATIOS  of  Revance Therapeutics, Inc. (RVNC)

Valuation Ratios
P/E Ratio -3.5
Price to Sales 0
Price to Book 1.8
Price to Tangible Book
Price to Cash Flow -5.2
Price to Free Cash Flow -5
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -33.3%
Cap. Spend. - 3 Yr. Gr. Rate -19.7%
Financial Strength
Quick Ratio 62
Current Ratio 0
LT Debt to Equity 1.1%
Total Debt to Equity 2.8%
Interest Coverage -88
Management Effectiveness
Return On Assets -36.7%
Ret/ On Assets - 3 Yr. Avg. -41.7%
Return On Total Capital -40.2%
Ret/ On T. Cap. - 3 Yr. Avg. -48.7%
Return On Equity -41.4%
Return On Equity - 3 Yr. Avg. -54.7%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 0%
EBITDA Margin - 3 Yr. Avg. 0%
Operating Margin 0%
Oper. Margin - 3 Yr. Avg. 0%
Pre-Tax Margin 0%
Pre-Tax Margin - 3 Yr. Avg. 0%
Net Profit Margin 0%
Net Profit Margin - 3 Yr. Avg. 0%
Effective Tax Rate 0%
Eff/ Tax Rate - 3 Yr. Avg. 0%
Payout Ratio 0%

RVNC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the RVNC stock intrinsic value calculation we used $4 million for the last fiscal year's total revenue generated by Revance Therapeutics, Inc.. The default revenue input number comes from 0001 income statement of Revance 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 RVNC 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 RVNC is calculated based on our internal credit rating of Revance 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 Revance 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 RVNC stock the variable cost ratio is equal to 9225%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $99 million in the base year in the intrinsic value calculation for RVNC 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 5.4% for Revance Therapeutics, Inc..

Corporate tax rate of 27% is the nominal tax rate for Revance 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 RVNC 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 RVNC are equal to 296.2%.

Life of production assets of 6.9 years is the average useful life of capital assets used in Revance 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 RVNC is equal to -14.8%. 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 - $145.622 million for Revance 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 44.028 million for Revance 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 Revance Therapeutics, Inc. at the current share price and the inputted number of shares is $0.5 billion.

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