ASX:MYX

Stock Analysis Report

Executive Summary

Mayne Pharma Group Limited, a specialty pharmaceutical company, manufactures and sells branded and generic pharmaceutical products in Australia, the United States, Korea, and internationally.

Snowflake

Fundamentals

Excellent balance sheet with reasonable growth potential.

Share Price & News

How has Mayne Pharma Group's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MYX has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

10.5%

MYX

2.7%

AU Pharmaceuticals

1.2%

AU Market


1 Year Return

-48.2%

MYX

-31.8%

AU Pharmaceuticals

12.1%

AU Market

Return vs Industry: MYX underperformed the Australian Pharmaceuticals industry which returned -31.8% over the past year.

Return vs Market: MYX underperformed the Australian Market which returned 12.1% over the past year.


Shareholder returns

MYXIndustryMarket
7 Day10.5%2.7%1.2%
30 Day-0.9%-0.5%2.0%
90 Day19.6%3.5%3.2%
1 Year-48.2%-48.2%-31.6%-31.8%18.3%12.1%
3 Year-64.7%-64.7%-42.5%-43.1%40.6%22.1%
5 Year-16.7%-23.2%-21.1%-28.2%54.2%19.8%

Price Volatility Vs. Market

How volatile is Mayne Pharma Group's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Mayne Pharma Group undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MYX (A$0.58) is trading below our estimate of fair value (A$1.58)

Significantly Below Fair Value: MYX is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: MYX is unprofitable, so we can't compare its PE Ratio to the Pharmaceuticals industry average.

PE vs Market: MYX is unprofitable, so we can't compare its PE Ratio to the Australian market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate MYX's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: MYX is good value based on its PB Ratio (0.9x) compared to the AU Pharmaceuticals industry average (2.3x).


Next Steps

Future Growth

How is Mayne Pharma Group forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

97.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MYX is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2.3%).

Earnings vs Market: MYX is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: MYX's is expected to become profitable in the next 3 years.

Revenue vs Market: MYX's revenue (11.6% per year) is forecast to grow faster than the Australian market (3.6% per year).

High Growth Revenue: MYX's revenue (11.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MYX's Return on Equity is forecast to be low in 3 years time (7.1%).


Next Steps

Past Performance

How has Mayne Pharma Group performed over the past 5 years?

-51.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MYX has large one-off items impacting its financial results.

Growing Profit Margin: MYX's current net profit margins (-53.5%) are lower than last year (-25.3%).


Past Earnings Growth Analysis

Earnings Trend: MYX is unprofitable, and losses have increased over the past 5 years at a rate of -51% per year.

Accelerating Growth: Unable to compare MYX's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: MYX is unprofitable, making it difficult to compare its past year earnings growth to the Pharmaceuticals industry (7.9%).


Return on Equity

High ROE: MYX has a negative Return on Equity (-27.98%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Mayne Pharma Group's financial position?


Financial Position Analysis

Short Term Liabilities: MYX's short term assets (A$471.9M) exceeds its short term liabilities (A$211.3M)

Long Term Liabilities: MYX's short term assets (471.9M) exceeds its long term liabilities (410.9M)


Debt to Equity History and Analysis

Debt Level: MYX's debt to equity ratio (36.5%) is considered satisfactory

Reducing Debt: MYX's debt to equity ratio has increased from 30.2% to 36.5% over the past 5 years.


Balance Sheet

Inventory Level: MYX has a high level of physical assets or inventory.

Debt Coverage by Assets: MYX's debt is covered by short term assets (assets are 1.3x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable MYX has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: MYX is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 85% per year.


Next Steps

Dividend

What is Mayne Pharma Group's current dividend yield, its reliability and sustainability?

0.29%

Forecast Dividend Yield


Dividend Yield vs Market

company0%marketbottom25%2.4%markettop25%5.5%industryaverage2.6%forecastin3Years0.3%

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate MYX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate MYX's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if MYX's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MYX's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: MYX is not paying a notable dividend for the Australian market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MYX's dividend in 3 years as they are not forecast to pay a notable one for the Australian market.


Next Steps

Management

What is the CEO of Mayne Pharma Group's salary, the management and board of directors tenure and is there insider trading?

3.4yrs

Average management tenure


CEO

Scott Richards (55yo)

7.8yrs

Tenure

AU$2,864,653

Compensation

Mr. Scott Anthony Richards has been the Chief Executive Officer and Managing Director of Mayne Pharma Group Limited since February 13, 2012. Mr. Richards joined Mayne Pharma in February 2012. He served as  ...


CEO Compensation Analysis

Compensation vs Market: Scott's total compensation ($USD1.96M) is above average for companies of similar size in the Australian market ($USD981.68K).

Compensation vs Earnings: Scott's compensation has increased whilst the company is unprofitable.


Management Age and Tenure

3.4yrs

Average Tenure

53yo

Average Age

Experienced Management: MYX's management team is considered experienced (3.4 years average tenure).


Board Age and Tenure

7.8yrs

Average Tenure

65yo

Average Age

Experienced Board: MYX's board of directors are considered experienced (7.8 years average tenure).


Insider Trading

Insider Buying: MYX insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyAU$30,19418 Oct 19
Frank Condella
EntityIndividual
Role
Member of the Board of Directors
Independent Non-Executive Director
Shares50,897
Max PriceAU$0.59
BuyAU$11,068,52630 Jul 19
Investors Mutual Limited
EntityCompany
Shares20,124,600
Max PriceAU$0.55
BuyAU$13,798,54321 May 19
Investors Mutual Limited
EntityCompany
Shares22,043,767
Max PriceAU$0.63
BuyAU$22,211,02113 Mar 19
Investors Mutual Limited
EntityCompany
Shares27,381,071
Max PriceAU$0.81
BuyAU$21,17331 Dec 18
Nancy Dolan
EntityIndividual
Role
Member of the Board of Directors
Independent Non-Executive Director
Shares27,272
Max PriceAU$0.78
BuyAU$139,33424 Dec 18
Frank Condella
EntityIndividual
Role
Member of the Board of Directors
Independent Non-Executive Director
Shares181,835
Max PriceAU$0.77
BuyAU$97,63014 Dec 18
Vinva Investment Management
EntityCompany
Shares103,279
Max PriceAU$0.95
SellAU$97,12514 Dec 18
Vinva Investment Management
EntityCompany
Shares106,864
Max PriceAU$0.91
BuyAU$116,410,35406 Dec 18
Vinva Investment Management
EntityCompany
Shares99,648,311
Max PriceAU$1.17
SellAU$192,67106 Dec 18
Vinva Investment Management
EntityCompany
Shares165,726
Max PriceAU$1.16

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • John Ross

    President of Mayne Pharma USA

    • Tenure: 2.8yrs
    • Compensation: AU$1.21m
  • Scott Richards (55yo)

    MD, CEO & Executive Director

    • Tenure: 7.8yrs
    • Compensation: AU$2.86m
  • Peter Paltoglou

    Chief Development Officer and Head of M&A

    • Tenure: 4.3yrs
    • Compensation: AU$980.15k
  • Nick Freeman

    Group CFO & Company Secretary

    • Tenure: 2.5yrs
    • Compensation: AU$1.07m
  • Lisa Pendlebury

    Vice President of Investor Relations & Communications

    • Tenure: 4yrs
    • Compensation: AU$456.63k
  • Stefan Cross (46yo)

    President of International Operations

    • Tenure: 2.8yrs
    • Compensation: AU$1.01m
  • Brant Schofield (53yo)

    Executive Vice President of Specialty Brands Division

    • Tenure: 1.1yrs
    • Compensation: AU$1.29m
  • Kate Rintoul

    Executive VP & General Counsel

    • Tenure: 6.8yrs
    • Compensation: AU$767.48k
  • Ilana Stancovski

    Chief Scientific Officer & Head of European Market Development

    • Tenure: 5.2yrs
    • Compensation: AU$954.15k
  • Andy Herdman

    Vice President of Group Human Resources

    • Tenure: 1.2yrs

Board Members

  • Ian Scholes (64yo)

    Independent Non-Executive Director

    • Tenure: 12.1yrs
    • Compensation: AU$153.30k
  • Roger Corbett (76yo)

    Independent Chairman

    • Tenure: 8.8yrs
    • Compensation: AU$303.75k
  • Bruce Mathieson (76yo)

    Independent Non Executive Director

    • Tenure: 12.8yrs
    • Compensation: AU$131.40k
  • Scott Richards (55yo)

    MD, CEO & Executive Director

    • Tenure: 7.8yrs
    • Compensation: AU$2.86m
  • Frank Condella (65yo)

    Independent Non-Executive Director

    • Tenure: 1.5yrs
    • Compensation: AU$156.97k
  • Bruce Robinson (62yo)

    Independent Non-Executive Director

    • Tenure: 5.3yrs
    • Compensation: AU$134.14k
  • Pat Blake (55yo)

    Independent Non-Executive Director

    • Tenure: 1.4yrs
    • Compensation: AU$156.97k
  • Ron Best (70yo)

    Independent Non Executive Director

    • Tenure: 13.3yrs
    • Compensation: AU$142.35k
  • Nancy Dolan (68yo)

    Independent Non-Executive Director

    • Tenure: 3.2yrs
    • Compensation: AU$142.35k

Company Information

Mayne Pharma Group Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Mayne Pharma Group Limited
  • Ticker: MYX
  • Exchange: ASX
  • Founded: 2005
  • Industry: Pharmaceuticals
  • Sector: Pharmaceuticals & Biotech
  • Market Cap: AU$924.161m
  • Shares outstanding: 1.59b
  • Website: https://www.maynepharma.com

Number of Employees


Location

  • Mayne Pharma Group Limited
  • 1538 Main North Road
  • Salisbury South
  • South Australia
  • 5106
  • Australia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MYXASX (Australian Securities Exchange)YesOrdinary SharesAUAUDJun 2007
HG6DB (Deutsche Boerse AG)YesOrdinary SharesDEEURJun 2007
MAYN.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJun 2007
MYXCHIA (Chi-X Australia)YesOrdinary SharesAUAUDJun 2007

Biography

Mayne Pharma Group Limited, a specialty pharmaceutical company, manufactures and sells branded and generic pharmaceutical products in Australia, the United States, Korea, and internationally. It operates t ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/12 10:33
End of Day Share Price2019/11/12 00:00
Earnings2019/06/30
Annual Earnings2019/06/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.