Taro Pharmaceutical Industries Ltd.

NYSE:TARO Rapport sur les actions

Capitalisation boursière : US$1.6b

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

Taro Pharmaceutical Industries Croissance future

Future contrôle des critères 0/6

Nous ne disposons actuellement pas d'une couverture d'analyste suffisante pour prévoir la croissance et les revenus de Taro Pharmaceutical Industries.

Informations clés

n/a

Taux de croissance des bénéfices

n/a

Taux de croissance du BPA

Pharmaceuticals croissance des bénéfices14.9%
Taux de croissance des recettesn/a
Rendement futur des capitaux propresn/a
Couverture par les analystes

None

Dernière mise à journ/a

Mises à jour récentes de la croissance future

Recent updates

Seeking Alpha • Dec 12

Taro Pharmaceutical Industries Ltd. Is An Overlooked Opportunity

Summary Taro Pharmaceutical Industries is a hidden treasure in the pharmaceutical industry, with a Strong Buy Quant Rating and positive financials. The company has been overshadowed by Teva Pharmaceutical Industries but has potential for growth in its niche. Taro's recent earnings report showed increased sales and profitability, making it an attractive investment opportunity. Read the full article on Seeking Alpha
Seeking Alpha • Aug 16

Taro Pharmaceutical: Sun Pharma Deal Uncertain, No Discernible Value Beyond NAV (Rating Downgrade)

Summary Taro Pharmaceutical's minority shareholders have resisted Sun Pharmaceuticals' offer of $38 per share, stating that Taro is worth more. Taro's operating economics are unattractive in my view, with declining pre-tax earnings and no revenue growth. Uncertainty remains on the Sun Pharma bid, placing uncertainty on price visibility. Revise to hold. Read the full article on Seeking Alpha
Seeking Alpha • Jun 02

Taro Pharmaceutical: Potential Value In Sun Pharma Offer

Summary Taro received a $38/share offer from Sun Pharma last month. The deal represents a decent premium to the firm's market value at the time and a 12% premium to my estimate of fair value. Further insights reveal the deal could be valuable to Taro shareholders given all the contributing factors. With the new catalyst in place, I am revising the position to buy, not discounting the potential for a competing bid either. Read the full article on Seeking Alpha
Seeking Alpha • Feb 24

Taro Pharmaceutical: Stagnating Growth At 1.6% Trailing Earnings Yield, Rate Hold

Summary Taro Pharmaceutical's quarterly numbers came in with very thin growth at the operating and bottom-lines given the impact from settlement charges. Price erosion in its U.S. generics business continues to be a headwind. Question is, does the stock represent value at these compressed multiples. We sought to understand the same, and found the data supports a neutral view. Investment Summary Israeli-based pharmaceutical companies are at the forefront of innovation and drug development globally. Not all opportunities are created equal, however. For those investors restricted to investing in U.S. exchanges, Taro Pharmaceutical Industries Ltd (TARO) has been an underwhelming performer versus key benchmarks over the last 6-years to date [Figure 1]. The company posted its Q3' results last month with flat top-line growth and a substantial decrease in earnings after it booked another round of non-operating losses in its cash flow statement and P&L. As a reminder, these charges fall on the back of charges filed by the Department of Justice ("DOJ") in 2020' for conspiring to "fix prices, allocate customers, and rig bids for generic drugs". The charges came after TARO admitted to participating in "two charged conspiracies between 2013 and 2015", combined with a "second conspiracy with a generic drug company based in Pennsylvania and other individuals, from at least as early as May 2013 and continuing until at least December 2015". The outcome was a part of a wider DOJ investigation where a total of 6 companies were charged with antitrust conspiracies related to drug pricing on sales into the U.S. As a result, TARO, along with its co-conspirator, agreed to pay a collective $426mm in penalties. Subsequently, its bottom-line has been materially impacted by the decision, leading to negligent post-tax earnings growth since FY20'. The question is, at 0.7x book value, does the company represent a potential value play, or are there too many headwinds in the picture? Here, we sought to extrapolate the latest data to gauge this. Alas, given the culmination of reasons presented in this report, the data supports that TARO stock is currently a hold. It has a large reversal ahead of itself in order to achieve a positive re-rating, meaning that investors are unlikely to be attracted to the stock until we see evidence of the same. Fig. (1) TARO price performance FY17–date Data: Updata TARO Q4 results analytics Turning to the latest set of numbers, its prudent to perform a rigorous examination of TARO's growth percentages to see how it fared with and without the settlement charges involved. Looking in greater detail, with respect to the P&L, we'd note the following data points as key takeaways: Quarterly net sales came in flat YoY to $139mm as the cost of sales increased 19.4% to $75mm. To this point, TARO noted it continues to "experience price pressures particularly in the U.S. generic business" alas the price erosion in its generics footprint continues to be a remarkable headwind to top-line growth. This reflects the points raised earlier that were raised in the DOJ investigations. We see further evidence of this as gross profit clamped ~15% YoY to $64mm, leading to an 8.7 percentage point compression in quarterly gross margin to 46%. In a high-inflation environment, this could be a meaningful risk to profitability and earnings growth down the line, should this trend continue. TARO pared back R&D expenditure as a result of the above to ~9.3% of turnover. It also lost leverage at the SG&A line with a $25mm YoY increase to ~$50mm in general expenditures. It's important to note that these expenditures include adjustments made for the company's Alchemee acquisition, a consumer products company, back in February FY22 on a $99mm valuation. As to the success of the acquisition, we've been unable to see an organic view of the company's performance given the settlement charges discussed here. Moving down the P&L, and the impact from its generics' price erosion listed above are abundantly clear. It recognized a $35.7mm headwind from downsides in its U.S. generics franchise, clipping just $1.3mm in quarterly income on a razor thin 0.94% operating margin. Looking at the 9-months to December FY22, the overall impact was a $33mm headwind, where the company booked $42mm in operating income. Again, talking in terms of margin growth, this is a substantial headwind that must be worked through. We don't believe a further sub-1% operating margin is sustainable for the company without a) eating through substantial cash, or b) at least having to pare back operations substantially. It pulled this down to earnings of $7.3mm, a 72.2% YoY decline that came to $0.19 in EPS. Again, scrutinizing the 9-month numbers, TARO clipped $18.5mm in net income, a 40% YoY pullback to $0.49 per share. The trailing earnings yield on this is just 1.6%, well below the S&P 500's trailing earnings yield of ~4.6%. This was further realized at the cash flow level, as it clipped a substantial wind-back in CFFO of $175mm or 87.5% YoY to $24.9mm with another $54mm burnt in on-balance sheet cash. Again, the cash flow yield on this is a paltry 2.17%. The firm is still well capitalized with a combined $1.2Bn in cash and short-term and long-term equivalents, however. Still, for investors searching for quality, growth, or even value, it's hard to see an alignment with any of these factors, and the obvious pullback in bottom-line fundamentals is further support of a neutral view. It is important to note these operating bottom-line results include the impact from its settlement and contingency charges listed earlier. Subsequently, it's important to make adjustments for the settlement payments. We refer investors to Figure 2 for the breakdown: Fig. (2) TARO reported numbers vs. settlement-adjusted [9-months to December 2022] Note: All figures are shown in $mm'. (Data: Author, adapted from TARO Q3 financial results)
Seeking Alpha • Jan 24

Taro Pharmaceutical GAAP EPS of $0.19 misses by $0.68, revenue of $139.2M misses by $23.92M

Taro Pharmaceutical press release (NYSE:TARO): Q3 GAAP EPS of $0.19 misses by $0.68. Revenue of $139.2M misses by $23.92M.
Seeking Alpha • Oct 28

Taro Pharmaceutical Non-GAAP EPS of $0.66 misses by $0.18, revenue of $130.5M misses by $30.52M

Taro Pharmaceutical press release (NYSE:TARO): FQ2 Non-GAAP EPS of $0.66 misses by $0.18. Revenue of $130.5M (-11.3% Y/Y) misses by $30.52M. Gross profit of $47.0M (36.0% of net sales) compared to $62.0M (47.0% of net sales). As of September 30, 2022, cash and cash equivalents, short-term bank deposits and marketable securities (both short- and long-term) decreased $58.9M to $1.2B from March 31, 2022.
Seeking Alpha • Aug 15

Taro Pharmaceutical hits 52-week low; down 28% YTD

Taro Pharmaceutical (NYSE:TARO) on Monday hit a 52-week low of $32.50. The Israeli drugmaker, known for marking generic and over-the-counter products, is down ~28% year to date. Taro (TARO) beat on the top and bottom lines in its Q2 2022 results at the end of July.
Seeking Alpha • Jul 27

Taro Pharmaceutical Non-GAAP EPS of $1.09 beats by $0.24, revenue of $156.7M beats by $6.8M

Taro Pharmaceutical press release (NYSE:TARO): Q2 Non-GAAP EPS of $1.09 beats by $0.24. Revenue of $156.7M (+6.5% Y/Y) beats by $6.8M.
Seeking Alpha • Jul 14

Taro Pharmaceutical: 10%+ Projected Earnings Yield Is A Strong Calling Card

Based on the current long-term trend, shares look like they will test long-term support. We expect support to hold there based on the company's strong earnings power and clean balance sheet. Adjusted cash flow numbers also remain strong. Investors may need to buy the fear here when the situation presents itself. If we pull up a long-term technical chart of Taro Pharmaceutical Industries Ltd. (TARO), we can see that shares remain above the stock's multi-year trend line which dates back all the way to 1998. This essentially means that shares remain in a long-term bull market despite the fact that shares have been making lower lows consistently for some time now. However, given the fact that we see no significant bullish divergences at present in either the RSI momentum indicator or indeed the MACD, the likelihood is that shares will test long-term support depicted below which may mean the $30 level approx may come into view here before a final long-term bottom is printed. Although long-term charts are not useful for trading purposes, what they do provide is insights into the underlying trend of the stock which simply cannot be ascertained from more short-term timeframes. Although short-term charts can be very much emotionally driven, multi-decade charts address far more information where rationality and psychology (Human states which generally do not change) are much more to the fore. Suffice it to say, our job is to decipher whether indeed Taro Pharmaceutical would be a strong buy at the $30 level. We can gain insights into this answer by monitoring the company's trends regarding its earnings and linking this to the company's valuation in general. Remember, Taro has no debt on its balance sheet which means interest expenses can not erode the company's net profit to any significant degree. Furthermore, the fact the shares are presently trading under book value permits us to focus on the company's earnings expectations and particularly what is expected in this present fiscal year (ends March 2023) Long-Term Chart Of Taro Pharmaceutical (Stockcharts.com) Being chartists, we believe Taro's share price action on the technical chart is a full reflection of the stock's known fundamentals such as but not limited to the recent DOJ investigations and subsequent cash payments, the recent Alchemee purchase, and the current competitive pressures which exist in this industry. In spite of these headwinds, the company reported a net profit of $58.3 million for its most recent fiscal year (which ended March 2022). However, it is the forward earnings multiple of 9.75 which has really caught our attention for the following reason. Cheap Earnings Earnings growth is the main driver of stock prices, period. Given that the above earnings multiple corresponds to projected earnings of $3.86 per share, Taro´s forward earnings yield comes in at (Projected Earnings/Stock Price - 3.86/37.62) 10.26%. This 10.26% projected yield equates to the investor´s rate of return if indeed management decided to pay out all of its earnings to shareholders. Taking into account however our $30 entry point, our projected annual yield would now increase to 12.87%. Now, given how Taro's U.S. market, in particular, may potentially not live up to expectations due to significant competitive pressures, that 12%+ forward earnings yield has to be taken with a grain of salt. We get this but even if we are wrong, there is still plenty of buffer between that projection and the prevailing inflation rate. Remember, with high single-digit inflation rates continuing to be the norm at present, investors will undoubtedly begin to price this new narrative into their positions. Suffice it to say, it is all about real returns going forward so double-digit nominal returns from certain equities are bound to come under extra scrutiny going forward from investors. Cash Flow When we look at the most recent year-end cash flow statement, we see that net cash of almost $159 million was actually used in the fiscal year. However, when we take out monies associated with loss contingencies and the settlement, we see that the adjusted operating cash flow number comes to a positive $165 million number. Although a forward cash-flow multiple can not be predicted at present due to the uncertainty regarding ongoing civil antitrust issues, the adjusted trailing operating cash-flow multiple for example comes in at 8.61.
Article d’analyse • Aug 03

We Think Taro Pharmaceutical Industries' (NYSE:TARO) Healthy Earnings Might Be Conservative

Taro Pharmaceutical Industries Ltd.'s ( NYSE:TARO ) solid earnings announcement recently didn't do much to the stock...
Article d’analyse • Jan 26

A Look At Taro Pharmaceutical Industries' (NYSE:TARO) Share Price Returns

Taro Pharmaceutical Industries Ltd. ( NYSE:TARO ) shareholders should be happy to see the share price up 24% in the...

Dans cette section, nous présentons généralement des projections de croissance du chiffre d'affaires et des bénéfices basées sur les estimations consensuelles d'analystes professionnels afin d'aider les investisseurs à comprendre la capacité de l'entreprise à générer des bénéfices. Mais comme Taro Pharmaceutical Industries n'a pas fourni suffisamment de données passées et n'a pas de prévisions d'analystes, ses bénéfices futurs ne peuvent pas être calculés de manière fiable en extrapolant les données passées ou en utilisant les prévisions des analystes.

Il s'agit d'une situation assez rare car 97% des entreprises couvertes par SimplyWall St disposent de données financières passées.

Prévisions de croissance des bénéfices et des revenus

NYSE:TARO - Estimations futures des analystes et données financières antérieures (USD Millions )
DateRecettesLes revenusFlux de trésorerie disponibleCash from OpMoy. Nombre d'analystes
3/31/20246295470125N/A
12/31/20236114688143N/A
9/30/20235933397125N/A
6/30/2023575217598N/A
3/31/2023573251432N/A
12/31/202257046216N/A
9/30/202256965-198-188N/A
6/30/202257191-271-261N/A
3/31/202256158-171-159N/A
12/31/20215661-161-149N/A
9/30/202156887286N/A
6/30/2021578291026N/A
3/31/2021549-3872946N/A
12/31/2020576-3032244N/A
9/30/2020583-26876100N/A
6/30/2020601-257228253N/A
3/31/2020645244243272N/A
12/31/2019650248252281N/A
9/30/2019678274258289N/A
6/30/2019677281291324N/A
3/31/2019670282293324N/A
12/31/2018665310331363N/A
9/30/2018644234313343N/A
6/30/2018655224304333N/A
3/31/2018662211294324N/A
12/31/2017683208N/A343N/A
9/30/2017748330N/A384N/A
6/30/2017807401N/A454N/A
3/31/2017879457N/A438N/A
12/31/2016948489N/A476N/A
9/30/2016986538N/A458N/A
6/30/2016969547N/A383N/A
3/31/2016951541N/A395N/A
12/31/2015930579N/A454N/A
9/30/2015909532N/A440N/A
6/30/2015948542N/A439N/A
3/31/2015863485N/A407N/A
12/31/2014806422N/A277N/A
9/30/2014782395N/A294N/A
6/30/2014736348N/A329N/A
3/31/2014759361N/A358N/A
12/31/2013737321N/A349N/A
9/30/2013709294N/A327N/A
6/30/2013665263N/A294N/A

Prévisions de croissance des analystes

Taux de revenus par rapport au taux d'épargne: Données insuffisantes pour déterminer si la croissance des bénéfices prévue de TARO est supérieure au taux d'épargne ( 2.4% ).

Bénéfices vs marché: Données insuffisantes pour déterminer si les bénéfices de TARO devraient croître plus rapidement que le marché US

Croissance élevée des bénéfices: Données insuffisantes pour déterminer si les bénéfices de TARO devraient augmenter de manière significative au cours des 3 prochaines années.

Chiffre d'affaires vs marché: Données insuffisantes pour déterminer si les revenus de TARO devraient croître plus rapidement que le marché US.

Croissance élevée des revenus: Données insuffisantes pour déterminer si les revenus de TARO devraient croître plus rapidement que 20% par an.

Prévisions de croissance du bénéfice par action

Rendement futur des capitaux propres

ROE futur: Données insuffisantes pour déterminer si le retour sur capitaux propres de TARO devrait être élevé dans 3 ans

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Analyse de l'entreprise et données financières

DonnéesDernière mise à jour (heure UTC)
Analyse de l'entreprise2024/06/24 07:09
Cours de l'action en fin de journée2024/06/24 00:00
Les revenus2024/03/31
Revenus annuels2024/03/31

Sources de données

Les données utilisées dans notre analyse de l'entreprise proviennent de S&P Global Market Intelligence LLC. Les données suivantes sont utilisées dans notre modèle d'analyse pour générer ce rapport. Les données sont normalisées, ce qui peut entraîner un délai avant que la source ne soit disponible.

PaquetDonnéesCadre temporelExemple de source américaine *
Finances de l'entreprise10 ans
  • Compte de résultat
  • Tableau des flux de trésorerie
  • Bilan
Estimations consensuelles des analystes+3 ans
  • Prévisions financières
  • Objectifs de prix des analystes
Prix du marché30 ans
  • Cours des actions
  • Dividendes, scissions et actions
Propriété10 ans
  • Actionnaires principaux
  • Délits d'initiés
Gestion10 ans
  • L'équipe dirigeante
  • Conseil d'administration
Principaux développements10 ans
  • Annonces de l'entreprise

* Exemple pour les titres américains ; pour les titres non américains, des formulaires réglementaires et des sources équivalentes sont utilisés.

Sauf indication contraire, toutes les données financières sont basées sur une période annuelle mais mises à jour trimestriellement. C'est ce qu'on appelle les données des douze derniers mois (TTM) ou des douze derniers mois (LTM). En savoir plus.

Modèle d'analyse et flocon de neige

Les détails du modèle d’analyse utilisé pour générer ce rapport sont disponibles sur notre page Github ; nous proposons également des guides sur la façon d’utiliser nos rapports et des tutoriels sur YouTube.

Découvrez l'équipe de classe mondiale qui a conçu et construit le modèle d'analyse Simply Wall St.

Indicateurs de l'industrie et du secteur

Nos indicateurs de secteur et de section sont calculés toutes les 6 heures par Simply Wall St. Les détails de notre processus sont disponibles sur Github.

Sources des analystes

Taro Pharmaceutical Industries Ltd. est couverte par 3 analystes. 0 de ces analystes ont soumis les estimations de revenus ou de bénéfices utilisées comme données d'entrée dans notre rapport. Les soumissions des analystes sont mises à jour tout au long de la journée.

AnalysteInstitution
Randall StanickyGoldman Sachs
Raghuram SelvarajuH.C. Wainwright & Co.
Kenneth CacciatoreTD Cowen