Standard BioTools Inc.

LAB

HealthcareMedical - DevicesNASDAQ

$1.01

Market Cap: $394.27M

Standard BioTools Inc. (LAB) Valuation Summary

Updated Apr 7, 2026 22:21

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	$0.01 – $0.47	$0.09	-90.6%
Revenue DCF 10Y	—	N/A	—
▸ Trading Multiples
EV/Revenue	$0.44 – $1.87	$0.79	-14.2%

Valuation History

DCF Analysis

Standard BioTools Inc. (LAB) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$0.09

Market Price

$1.01

Upside / Downside

-91.1%

Verdict

Overvalued

Using a Revenue DCF model with operating margin convergence from -109.3% to a target of 13.3% over 5 years, discounted at a WACC of 8.3%, Standard BioTools Inc. (LAB) has an intrinsic value of $0.09 per share (range: $0.01 – $0.47).

Key Assumptions

Current Operating Margin

-109.3%

Target Operating Margin

13.3%

WACC

8.3%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

6.3%

Target CapEx/Rev

16.1%

D&A/Revenue

10.7%

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	82	-4.5%	-84.8%	-69	-69	9	(7)	-3	-64	-61
2027	84	2.6%	-60.3%	-50	-50	9	(9)	1	-51	-45
2028	87	4.3%	-35.7%	-31	-31	9	(11)	1	-33	-27
2029	78	-10.0%	-11.2%	-9	-9	8	(11)	-3	-9	-7
2030	71	-10.0%	13.3%	9	7	8	(11)	-2	6	4

Enterprise Value Bridge

Sum of PV(FCFF)-136

Terminal Value (Gordon Growth at 3.0%)117

PV of Terminal Value82

Enterprise Value-54

(–) Net Debt-87

Equity Value33

(÷) Shares Outstanding382

Fair Value per Share$0.09

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.3%	10.3%	13.3%	16.3%	19.3%
6.3%	$0	$0	$0	$0	$0
7.3%	$-0	$0	$0	$0	$0
8.3%	$-0	$0	$0	$0	$0
9.3%	$-0	$-0	$0	$0	$0
10.3%	$-0	$-0	$0	$0	$0

Current price: $1.01. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 30.2% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Trading Multiples

Fair Value

$0.79

Market Price

$1.01

Upside / Downside

-21.4%

Verdict

Overvalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Standard BioTools Inc. (LAB) has a fair value of $0.79 based on 9 comparable companies in the Medical - Devices industry.

EV/Revenue Valuation — Medical - Devices

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Standard BioTools Inc.LAB	385	3.5x	1.7x
Cullinan Therapeutics, Inc.CGEM	899	44.3x	31.5x
CeriBell, Inc.CBLL	673	7.3x	10.2x
Avanos Medical, Inc.AVNS	637	1.0x	1.0x
Bioventus Inc.BVS	596	1.5x	1.4x
Cytek Biosciences, Inc.CTKB	591	2.6x	2.7x
ADC Therapeutics S.A.ADCT	473	8.0x	8.1x
Varex Imaging CorporationVREX	444	0.8x	0.8x
OrthoPediatrics Corp.KIDS	398	1.8x	1.6x
Treace Medical Concepts, Inc.TMCI	87	0.4x	0.4x
Industry Median		1.8x	1.6x
(*) Revenue		85	171
= Enterprise Value		154	277
(-) Net Debt		-87	-87
Equity Value		242	364
(/) Outstanding shares		382	382
Fair Price		$1	$1

Selected Fair Value (avg of trailing + forward)

$0.79

-21.4%

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

$0.01 – $0.47

$0.09

-90.6%

Revenue DCF 10Y

—

N/A

—

▸ Trading Multiples

EV/Revenue

$0.44 – $1.87

$0.79

-14.2%

DCF Analysis

Standard BioTools Inc. (LAB) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$0.09

Market Price

$1.01

Upside / Downside

-91.1%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-109.3%

Target Operating Margin

13.3%

WACC

8.3%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

6.3%

Target CapEx/Rev

16.1%

D&A/Revenue

10.7%

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	82	-4.5%	-84.8%	-69	-69	9	(7)	-3	-64	-61
2027	84	2.6%	-60.3%	-50	-50	9	(9)	1	-51	-45
2028	87	4.3%	-35.7%	-31	-31	9	(11)	1	-33	-27
2029	78	-10.0%	-11.2%	-9	-9	8	(11)	-3	-9	-7
2030	71	-10.0%	13.3%	9	7	8	(11)	-2	6	4

Enterprise Value Bridge

Sum of PV(FCFF)-136

Terminal Value (Gordon Growth at 3.0%)117

PV of Terminal Value82

Enterprise Value-54

(–) Net Debt-87

Equity Value33

(÷) Shares Outstanding382

Fair Value per Share$0.09

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.3%	10.3%	13.3%	16.3%	19.3%
6.3%	$0	$0	$0	$0	$0
7.3%	$-0	$0	$0	$0	$0
8.3%	$-0	$0	$0	$0	$0
9.3%	$-0	$-0	$0	$0	$0
10.3%	$-0	$-0	$0	$0	$0

Current price: $1.01. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 30.2% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Trading Multiples

Fair Value

$0.79

Market Price

$1.01

Upside / Downside

-21.4%

Verdict

Overvalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Standard BioTools Inc. (LAB) has a fair value of $0.79 based on 9 comparable companies in the Medical - Devices industry.

EV/Revenue Valuation — Medical - Devices

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Standard BioTools Inc.LAB	385	3.5x	1.7x
Cullinan Therapeutics, Inc.CGEM	899	44.3x	31.5x
CeriBell, Inc.CBLL	673	7.3x	10.2x
Avanos Medical, Inc.AVNS	637	1.0x	1.0x
Bioventus Inc.BVS	596	1.5x	1.4x
Cytek Biosciences, Inc.CTKB	591	2.6x	2.7x
ADC Therapeutics S.A.ADCT	473	8.0x	8.1x
Varex Imaging CorporationVREX	444	0.8x	0.8x
OrthoPediatrics Corp.KIDS	398	1.8x	1.6x
Treace Medical Concepts, Inc.TMCI	87	0.4x	0.4x
Industry Median		1.8x	1.6x
(*) Revenue		85	171
= Enterprise Value		154	277
(-) Net Debt		-87	-87
Equity Value		242	364
(/) Outstanding shares		382	382
Fair Price		$1	$1

Selected Fair Value (avg of trailing + forward)

$0.79

-21.4%