Delcath Systems Inc (DCTH) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Delcath Systems Inc stock $4.54, price $14.93, that is 69.6% below the price, quality 65 out of 100. Rating: strongly overvalued. Calculated from audited financials with 23 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range $2.25 – $18.10 · fair‑value band $3.18 – $5.90 · the $14.93 price screens above the $4.54 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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Delcath Systems, Inc., an interventional oncology company, focuses on the treatment of primary and metastatic liver cancers in the United States and Europe.
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The company's lead product candidate is HEPZATO KIT, a melphalan for injection/hepatic delivery system to administer high-dose chemotherapy to the liver while controlling systemic exposure and associated side effects.
Its clinical development program for HEPZATO is the FOCUS clinical trial for patients with metastatic hepatic dominant Uveal Melanoma to investigate objective response rate in metastatic uveal melanoma.
The company also provides HEPZATO as a stand-alone medical device under the CHEMOSAT Hepatic Delivery System trade name for Melphalan or CHEMOSAT for medical centers to treat a range of liver cancers in Europe. The company was founded in 1988 and is headquartered in Queensbury, New York.
Stock analysis
Delcath Systems Inc (DCTH) currently trades at $14.93, while our model-based Fair Value estimate is $4.54, 70% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of $10.31 per share, and 1 of the 23 models we run sit above the $14.93 price.
Bear case: the Multiples group reads lowest at $1.59, and 22 of the 23 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $3.18 (bear) to $5.90 (bull), the price of $14.93 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 65/100 (solid quality), in the Healthcare sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Delcath Systems Inc reported revenue of $85.2M in FY2025 versus $3.6M in FY2021, a compound +121.3%/yr. Reported net income was $2.7M in FY2025.
Key figures
Market cap $594M Small · P/S ratio 5.39 · EPS (TTM) $0.0100 · Net margin 0.6% · Return on equity 0.5% · Return on assets (EBIT) −75.6% (5-year average) · Operating margin 8.2% · Revenue (TTM) $95.4M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 27 out of 100 (low confidence).
What moves the price
The share trades about 14% below its 52-week high and 82% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −15% fair-value upside, at −70%, DCTH screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely ($1.12 to $15.74). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear$3.18Fair Value $4.54Bull$5.90
Price $14.93 · Downside -69.6%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($0.0086 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, no officer or director bought or sold shares on the open market.
BuySandra PennellChief Financial Officer5,533 shares at $9.04$50,018Mar 6, 2026
BuyGerard J MichelCHIEF EXECUTIVE OFFICER, Director2× since Nov 11, 2025: 22,700 shares, avg. $8.74$198,447Mar 2, 2026
BuyJohn Richard SylvesterDirector4,386 shares at $8.89$38,992Nov 21, 2025
Plus one other filing such as a grant, option exercise or tax withholding. It is not a market purchase or sale.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+129.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+215.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+120.2%
Start year 2020 (pandemic). Over 10 years: +47.5% a year
Revenue growth 13 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+52.7%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−1,294.2% (2020) → 0.8% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
not computed
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+14.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+21.0%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +11.9% a year for the price and +18.1% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Medical Devices · 318 stocks
Beats the industry median on 4/12 measures
Overall it trails its industry peers.
Valuation
Quality Score65 · Above median
Fair Value upside−69.6% · Bottom 25%
Profitability
Return on equity (12 months)0.5% · Below median
Return on assets2.2% · Above median
Net margin (12 months)0.6% · Below median
Operating margin (12 months)8.2% · Below median
Growth and dividend
Revenue growth (quarter YoY)20.6% · Top 25%
Balance sheet
Debt / equity0.07× · Above median
Valuation Multiplesvs Medical Devices median · lower = cheaper
P/B5.34× · Priciest 25%
P/S (12 months)6.22× · Priciest 25%
Price / free cash flow (fiscal year)28.3× · Pricier than median
PEG1.60× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 6
FUTURE (revenue growth)100· sector 36
PAST (return on equity)2· sector 17
HEALTH (low debt)96· sector 98
DIVIDEND (yield)0· sector 34
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Delcath Systems Inc Fair Value". https://www.fairvalue-calculator.com/stock/DCTH
Frequently asked questions
Is Delcath Systems Inc (DCTH) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of $4.54 versus a price of $14.93, about 70% lower (overvalued).
What is the fair value of DCTH?
Our model-based fair value for Delcath Systems Inc is $4.54 (as of Nov 6, 2026), built from audited fundamentals. The current price: $14.93.
What is the quality score of DCTH?
Delcath Systems Inc has a Quality Score of 65/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Delcath Systems Inc (DCTH)?
Our model-based price target is the fair value of $4.54 (as of Nov 6, 2026) from 23 valuation models. Cautious scenario $3.18, optimistic scenario $5.90. It is a calculation from audited fundamentals, not an analyst target.
What is the Delcath Systems Inc stock forecast for 2026?
Our models put fair value at $4.54, about 70% lower versus a price of $14.93 (overvalued). Cautious scenario $3.18, optimistic scenario $5.90. The calculation is refreshed regularly with new filings.
What is the revenue of Delcath Systems Inc (DCTH)?
Delcath Systems Inc reported trailing-twelve-month revenue of about $95.4M (latest available figure, as of Nov 6, 2026).
What growth is priced into Delcath Systems Inc (DCTH)?
For today's price to be fair in a discounted-cash-flow model, Delcath Systems Inc would have to grow free cash flow by +14.6 % per year for five years (discount rate 10.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +120.2 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of DCTH use?
Our models discount Delcath Systems Inc at 10.1 %: a base by market capitalisation (small), damped by beta 0.60, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Delcath Systems Inc that is +14.6 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (10.1 %) and the same formula as our fair value.
How much growth has Delcath Systems Inc (DCTH) delivered so far?
Over the past 5 years revenue at Delcath Systems Inc grew +120.2 % a year. The price currently implies free-cash-flow growth of +14.6 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Delcath Systems Inc (DCTH) growing?
The median revenue growth in the sector is +6.2 % a year. That is the yardstick for the growth priced into Delcath Systems Inc (+14.6 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Delcath Systems Inc (DCTH)?
The free-cash-flow yield on the price is 3.53 %: that much free cash flow Delcath Systems Inc produces per unit of market value. When it exceeds the discount rate of our models (10.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Delcath Systems Inc (DCTH)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Delcath Systems Inc it is $4.54 per share (as of Nov 6, 2026), against a price of $14.93. It is the blended result of 23 valuation models in 7 families (DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Delcath Systems Inc stock overvalued or undervalued in 2026?
As of Nov 6, 2026, DCTH trades above its calculated fair value: price $14.93, fair value $4.54, a gap of about −70% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of DCTH?
No. The price is what the market pays today ($14.93); the fair value is what the company's own numbers justify ($4.54). For Delcath Systems Inc the two are $10.39 per share apart. That gap is exactly why we show both numbers side by side.
How much is Delcath Systems Inc worth?
The market values Delcath Systems Inc at about $594M (market capitalisation, as of Nov 6, 2026). Per share that is $14.93; our models calculate a fair value of $4.54 per share.
What do the bullish and bearish scenarios say about DCTH?
Our models span a range for Delcath Systems Inc: cautious scenario $3.18, base $4.54, optimistic $5.90 per share (as of Nov 6, 2026, price $14.93). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of DCTH?
The PEG ratio of Delcath Systems Inc is 1.60 (P/E divided by earnings growth, as of Nov 6, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Delcath Systems Inc (DCTH)?
Balance-sheet figures for Delcath Systems Inc (as of Nov 6, 2026): return on equity 0.5%, debt of 0.07 per unit of equity. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is DCTH from its 52-week high?
Delcath Systems Inc trades at $14.93, about 14% below its 52-week high of $17.36 and 82% above the low of $8.19 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $4.54 is for.
Which stocks are comparable to Delcath Systems Inc?
From the same area (Healthcare) we also value Abbott Laboratories,, Medtronic plc, Stryker Corporation, Boston Scientific Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Delcath Systems Inc stock attractive at the current price?
The data as of Nov 6, 2026: price $14.93, calculated fair value $4.54 (−70%), Quality Score 65/100, from 23 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of DCTH calculated?
We run Delcath Systems Inc through 23 models from 7 families: DCF Models, Earnings-Based, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $4.54 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Delcath Systems Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Delcath Systems Inc (DCTH)?
The closing price on Nov 6, 2026 was $14.93. Our model-based fair value is $4.54, about 70% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Delcath Systems Inc right now?
The price sits above even our optimistic bull case ($5.90). The favourable scenario is already priced in. Solid but not exceptional quality (65/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range ($3.18 to $5.90) leaves room in how you read the outcome.
Key figures of Delcath Systems Inc
How large is the market capitalisation of Delcath Systems Inc (DCTH)?
The market capitalisation of Delcath Systems Inc is $594M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Delcath Systems Inc (DCTH)?
The price-to-sales ratio of Delcath Systems Inc is 5.39 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Delcath Systems Inc (DCTH)?
Earnings per share at Delcath Systems Inc are $0.0100. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Delcath Systems Inc (DCTH)?
The net margin of Delcath Systems Inc is 0.6% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Delcath Systems Inc (DCTH)?
The return on equity (ROE) of Delcath Systems Inc is 0.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Delcath Systems Inc (DCTH)?
On an EBIT basis the return on assets of Delcath Systems Inc is −75.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Delcath Systems Inc (DCTH)?
The operating margin of Delcath Systems Inc is 8.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Delcath Systems Inc (DCTH)?
Revenue at Delcath Systems Inc is growing +20.6% versus a year earlier (3y avg +215%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net cash does Delcath Systems Inc (DCTH) hold?
Delcath Systems Inc holds more cash than debt, $42.5M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Nov 6, 2026