AstraZeneca (AZN)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $239.7B, AstraZeneca's free cash flow of $8.7B (fiscal 2025) would need to grow about 9% a year for the stock to be worth today's price. That is slower than the company has grown its free cash flow over the last 9 years.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from AstraZeneca's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from AZN's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from AstraZeneca's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $37.4B | $44.4B | $45.8B | $54.1B | $58.7B |
| Net income | $112M | $3.3B | $6.0B | $7.0B | $10.2B |
| Free cash flow | $3.8B | $7.2B | $6.6B | $7.3B | $8.7B |
| EPS (diluted) | $0.08 | $2.11 | $3.81 | $4.50 | $6.54 |
| Operating margin | 2.8% | 8.5% | 17.9% | 18.5% | 23.4% |
Where the revenue comes from
Revenue by products, fiscal 2021.
Superinvestors who own AZN
From each investor's latest 13F filing (what a 13F shows). 9 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| PRIMECAP Management PRIMECAP Management Co |
Trimmed | $3.4B | 2.0% | Q2 2026 |
| Hersh Cohen ClearBridge Investments |
Trimmed | $952M | 0.79% | Q2 2026 |
| Tom Steyer Farallon Capital Management LLC |
Added | $109M | 0.50% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Added | $75M | 0.03% | Q2 2026 |
| Larry Robbins Glenview Capital Management |
New position | $35M | 0.64% | Q2 2026 |
| Dodge & Cox Dodge & Cox |
Trimmed | $11M | 0.01% | Q2 2026 |
| Ron Baron Baron Capital (BAMCO) |
Trimmed | $9M | 0.01% | Q2 2026 |
| Murray Stahl Horizon Kinetics LLC |
Trimmed | $950,944 | 0.01% | Q2 2026 |
| Joel Greenblatt Gotham Asset Management |
Trimmed | $380,567 | 0.00% | Q2 2026 |
Insider buying
Open-market purchases by AstraZeneca's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Aug 8, 2026 | Mani Sharma Officer |
20 | $160.57 | $3,249 |
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In the full deep dive
Questions
What growth does AstraZeneca's stock price imply?
At a market value of $239.7B, AstraZeneca would need its free cash flow to grow about 9% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price. Over the last 9 years its free cash flow grew 19% a year.
Are AstraZeneca insiders buying the stock?
1 open-market insider purchase of AZN in the last 12 months, from SEC Form 4 filings.
Which superinvestors own AstraZeneca?
9 of the superinvestors Investingly tracks hold AZN in their latest 13F, including PRIMECAP Management, Hersh Cohen, Tom Steyer.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.