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Theratechnologies Valuation

Q: What is the Fair Price of THTX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

THTX ($3.39) is trading below our estimate of [[fair value]] ($8.55)

Is THTX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of THTX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

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Below Fair Value: THTX ($3.39) is trading below our estimate of fair value ($8.55)

Significantly Below Fair Value: THTX is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for THTX?

Key metric: As THTX is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for THTX. This is calculated by dividing THTX's market cap by their current revenue.
What is THTX's PS Ratio?
PS Ratio	1.8x
Sales	US$84.38m
Market Cap	US$154.67m

THTX key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	2.2x
Enterprise Value/EBITDA	21.5x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does THTX's PS Ratio compare to its peers?

The above table shows the PS ratio for THTX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	6.7x
PLX Protalix BioTherapeutics	2.6x	7.53%	US$168.9m
CHRS Coherus Oncology	0.7x	15.45%	US$199.4m
CCCC C4 Therapeutics	7.4x	72.50%	US$206.4m
CRBU Caribou Biosciences	16x	50.78%	US$147.7m
THTX Theratechnologies	1.8x	7.93%	US$215.6m

Price-To-Sales vs Peers: THTX is good value based on its Price-To-Sales Ratio (1.8x) compared to the peer average (9.7x).

Historical Price to Sales Ratio

Historical Price to Sales Ratio compares a stock's price to its sales over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Sales Ratio vs Industry

How does THTX's PS Ratio compare vs other companies in the US Biotechs Industry?

122 Companies	Price / Sales	Estimated Growth	Market Cap
Industry Avg.	12.5x	19.5%
THTX Theratechnologies	1.8x	7.93%	US$154.67m
BIIB Biogen	2.6x	-1.24%	US$27.23b
BMRN BioMarin Pharmaceutical	3.4x	5.45%	US$11.09b

122 Companies		Estimated Growth	Market Cap
Industry Avg.	12.5x	23.0%
THTX Theratechnologies	1.8x	56.98%	US$154.67m

No more companies

Price-To-Sales vs Industry: THTX is good value based on its Price-To-Sales Ratio (1.8x) compared to the US Biotechs industry average (9.5x).

Price to Sales Ratio vs Fair Ratio

What is THTX's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

THTX PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	1.8x
Fair PS Ratio	2.5x

Price-To-Sales vs Fair Ratio: THTX is good value based on its Price-To-Sales Ratio (1.8x) compared to the estimated Fair Price-To-Sales Ratio (2.5x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

AnalystPriceTarget

Community Contributor

US$5.23

Fair Value

35.2% undervalued

Number of Analysts

Analyst Forecast: Insufficient data to show price forecast.

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/09/25 06:04
End of Day Share Price	2025/09/25 00:00
Earnings	2025/05/31
Annual Earnings	2024/11/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Theratechnologies Inc. is covered by 8 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Dewey Steadman	Canaccord Genuity
Douglas Loe	Cantor Fitzgerald Canada Corporation
Prakash Gowd	CIBC Capital Markets