The purpose of this dissertation is to determine the intrinsic value of Grifols, a leading pharmaceutical company that manufactures plasma-derived medicines. The authors have conducted a fundamental analysis of Grifols by examining the macro and microeconomic factors that affect the environment it operates in, the competitive landscape, the corporate strategy, and the annual accounts of the company. Subsequently, they built their discounted cash flow (DCF) valuation model in Excel to calculate the intrinsic value of Grifols. They found that Grifols? strong financial performance and its privileged access to sources of finance allows it to sustainably grow faster than competitors. Their results indicate that Grifols has an intrinsic value of ?28.33 per share, which is higher than the current market value of ?27.92 per share. The authors discover that Grifols? economic moat will widen due to its collaboration with the U.S. government in the wake of COVID-19 and particularly due to its strategic initiative to expand to China. The already robust financial position is on track for sustained growth. Therefore, they firmly conclude that it is considered undervalued. The authors unanimously recommend potential investors to buy Grifols? shares.