Monte Rosa Therapeutics, Inc.

GLUE

HealthcareBiotechnologyNASDAQ

$19.39

Market Cap: $1.26B

Monte Rosa Therapeutics, Inc. (GLUE) Valuation Summary

Updated May 9, 2026 06:33

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	$1.84 – $7.91	$3.71	-80.9%
Revenue DCF 10Y	$2.40 – $15.65	$6.32	-67.4%
▸ Trading Multiples
EV/Revenue	$8.37 – $20.20	$8.31	-57.1%

Valuation History

DCF Analysis

Monte Rosa Therapeutics, Inc. (GLUE) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$6.32

Market Price

$19.39

Upside / Downside

-67.4%

Verdict

Overvalued

Using a Revenue DCF model with operating margin convergence from -43.8% to a target of 13.2% over 5 years, discounted at a WACC of 8.5%, Monte Rosa Therapeutics, Inc. (GLUE) has an intrinsic value of $6.32 per share (range: $2.40 – $15.65).

Key Assumptions

Current Operating Margin

-43.8%

Target Operating Margin

13.2%

WACC

8.5%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

4.5%

Target CapEx/Rev

13.1%

D&A/Revenue

8.8%

Tax Rate

21.0%

Operating margin fades linearly from the current level to the industry target over the 5-year projection. CapEx intensity fades from the historical average to a maintenance level (D&A × 1.5). Tax is only applied when operating income is positive (NOL shield).

Margin Convergence Projection

USD in millions. Mid-year discounting convention.

Year	Revenue	Growth	Op Margin	Op Income	NOPAT	D&A	CapEx	ΔNWC	FCFF	PV(FCFF)
2026	44	-64.0%	-32.4%	-14	-14	4	(2)	-6	-7	-7
2027	58	30.9%	-21.0%	-12	-12	5	(4)	-1	-9	-8
2028	22	-61.8%	-9.6%	-2	-2	2	(2)	4	-6	-5
2029	112	401.9%	1.8%	2	2	10	(9)	-10	12	9
2030	173	54.6%	13.2%	23	18	15	(15)	-7	24	17
2031	224	30.0%	13.2%	30	23	20	(22)	-6	27	17
2032	292	30.0%	13.2%	38	30	26	(31)	-7	32	19
2033	379	30.0%	13.2%	50	40	33	(43)	-9	39	21
2034	467	23.2%	13.2%	62	49	41	(57)	-10	42	21
2035	528	13.1%	13.2%	70	55	46	(69)	-7	39	18

Enterprise Value Bridge

Sum of PV(FCFF)102

Terminal Value (Gordon Growth at 3.0%)721

PV of Terminal Value332

Enterprise Value434

(–) Net Debt-91

Equity Value525

(÷) Shares Outstanding83

Fair Value per Share$6.32

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.2%	10.2%	13.2%	16.2%	19.2%
6.5%	$4	$7	$10	$13	$16
7.5%	$4	$6	$8	$10	$12
8.5%	$3	$5	$6	$8	$10
9.5%	$3	$4	$5	$7	$8
10.5%	$2	$4	$5	$6	$7

Current price: $19.39. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at -10.8% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Monte Rosa Therapeutics, Inc. (GLUE) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$3.71

Market Price

$19.39

Upside / Downside

-80.9%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-43.8%

Target Operating Margin

13.2%

WACC

8.5%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

4.5%

Target CapEx/Rev

13.1%

D&A/Revenue

8.8%

Tax Rate

21.0%

Margin Convergence Projection

USD in millions. Mid-year discounting convention.

Year	Revenue	Growth	Op Margin	Op Income	NOPAT	D&A	CapEx	ΔNWC	FCFF	PV(FCFF)
2026	44	-64.0%	-32.4%	-14	-14	4	(3)	-6	-7	-7
2027	58	30.9%	-21.0%	-12	-12	5	(5)	-1	-10	-9
2028	22	-61.8%	-9.6%	-2	-2	2	(2)	4	-6	-5
2029	112	401.9%	1.8%	2	2	10	(13)	-10	8	6
2030	173	54.6%	13.2%	23	18	15	(23)	-7	17	12

Enterprise Value Bridge

Sum of PV(FCFF)-3

Terminal Value (Gordon Growth at 3.0%)318

PV of Terminal Value220

Enterprise Value217

(–) Net Debt-91

Equity Value308

(÷) Shares Outstanding83

Fair Value per Share$3.71

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.2%	10.2%	13.2%	16.2%	19.2%
6.5%	$3	$4	$6	$7	$8
7.5%	$3	$4	$4	$5	$6
8.5%	$2	$3	$4	$4	$5
9.5%	$2	$3	$3	$4	$4
10.5%	$2	$2	$3	$3	$4

Current price: $19.39. Green = undervalued, Red = overvalued.

Working Capital Assumption

Trading Multiples

Fair Value

$8.31

Market Price

$19.39

Upside / Downside

-57.1%

Verdict

Overvalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Monte Rosa Therapeutics, Inc. (GLUE) has a fair value of $8.31 based on 7 comparable companies in the Biotechnology industry.

EV/Revenue Valuation — Biotechnology

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Monte Rosa Therapeutics, Inc.GLUE	1,611	12.3x	34.2x
Day One Biopharmaceuticals, Inc.DAWN	2,225	12.8x	8.4x
Vir Biotechnology, Inc.VIR	1,495	21.1x	10.5x
MeiraGTx Holdings plcMGTX	909	11.4x	18.5x
Geron CorporationGERN	892	5.8x	4.6x
Theravance Biopharma, Inc.TBPH	876	7.3x	6.7x
Arvinas, Inc.ARVN	647	2.0x	5.4x
Ginkgo Bioworks Holdings, Inc.DNA	582	4.9x	4.8x
Industry Median		7.3x	6.7x
(*) Revenue		124	44
= Enterprise Value		902	298
(-) Net Debt		-91	-91
Equity Value		993	388
(/) Outstanding shares		83	83
Fair Price		$12	$5

Selected Fair Value (avg of trailing + forward)

$8.31

-57.1%

Disclaimer: Sweet Value Lab provides estimated intrinsic values for informational purposes only. This is not financial advice. All models rely on assumptions that may not reflect future performance. Always do your own research before making investment decisions.

Model

Range

Fair Value

Upside

▸ Discounted Cash Flow

Revenue DCF 5Y

$1.84 – $7.91

$3.71

-80.9%

Revenue DCF 10Y

$2.40 – $15.65

$6.32

-67.4%

▸ Trading Multiples

EV/Revenue

$8.37 – $20.20

$8.31

-57.1%

DCF Analysis

Monte Rosa Therapeutics, Inc. (GLUE) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$6.32

Market Price

$19.39

Upside / Downside

-67.4%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-43.8%

Target Operating Margin

13.2%

WACC

8.5%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

4.5%

Target CapEx/Rev

13.1%

D&A/Revenue

8.8%

Tax Rate

21.0%

Margin Convergence Projection

USD in millions. Mid-year discounting convention.

Year	Revenue	Growth	Op Margin	Op Income	NOPAT	D&A	CapEx	ΔNWC	FCFF	PV(FCFF)
2026	44	-64.0%	-32.4%	-14	-14	4	(2)	-6	-7	-7
2027	58	30.9%	-21.0%	-12	-12	5	(4)	-1	-9	-8
2028	22	-61.8%	-9.6%	-2	-2	2	(2)	4	-6	-5
2029	112	401.9%	1.8%	2	2	10	(9)	-10	12	9
2030	173	54.6%	13.2%	23	18	15	(15)	-7	24	17
2031	224	30.0%	13.2%	30	23	20	(22)	-6	27	17
2032	292	30.0%	13.2%	38	30	26	(31)	-7	32	19
2033	379	30.0%	13.2%	50	40	33	(43)	-9	39	21
2034	467	23.2%	13.2%	62	49	41	(57)	-10	42	21
2035	528	13.1%	13.2%	70	55	46	(69)	-7	39	18

Enterprise Value Bridge

Sum of PV(FCFF)102

Terminal Value (Gordon Growth at 3.0%)721

PV of Terminal Value332

Enterprise Value434

(–) Net Debt-91

Equity Value525

(÷) Shares Outstanding83

Fair Value per Share$6.32

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.2%	10.2%	13.2%	16.2%	19.2%
6.5%	$4	$7	$10	$13	$16
7.5%	$4	$6	$8	$10	$12
8.5%	$3	$5	$6	$8	$10
9.5%	$3	$4	$5	$7	$8
10.5%	$2	$4	$5	$6	$7

Current price: $19.39. Green = undervalued, Red = overvalued.

Working Capital Assumption

Trading Multiples

Fair Value

$8.31

Market Price

$19.39

Upside / Downside

-57.1%

Verdict

Overvalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Monte Rosa Therapeutics, Inc. (GLUE) has a fair value of $8.31 based on 7 comparable companies in the Biotechnology industry.

EV/Revenue Valuation — Biotechnology

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Monte Rosa Therapeutics, Inc.GLUE	1,611	12.3x	34.2x
Day One Biopharmaceuticals, Inc.DAWN	2,225	12.8x	8.4x
Vir Biotechnology, Inc.VIR	1,495	21.1x	10.5x
MeiraGTx Holdings plcMGTX	909	11.4x	18.5x
Geron CorporationGERN	892	5.8x	4.6x
Theravance Biopharma, Inc.TBPH	876	7.3x	6.7x
Arvinas, Inc.ARVN	647	2.0x	5.4x
Ginkgo Bioworks Holdings, Inc.DNA	582	4.9x	4.8x
Industry Median		7.3x	6.7x
(*) Revenue		124	44
= Enterprise Value		902	298
(-) Net Debt		-91	-91
Equity Value		993	388
(/) Outstanding shares		83	83
Fair Price		$12	$5

Selected Fair Value (avg of trailing + forward)

$8.31

-57.1%