ENXTBR:BCART

Stock Analysis Report

Executive Summary

Biocartis Group NV, a molecular diagnostics company, provides diagnostic solutions enhancing clinical practice for the benefit of patients, clinicians, payers, and healthcare industry, with a focus on oncology in Belgium and internationally.

Snowflake

Fundamentals

Fair value with mediocre balance sheet.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-7.2%

BCART

0.2%

BE Medical Equipment

-0.4%

BE Market


1 Year Return

-49.2%

BCART

21.7%

BE Medical Equipment

10.9%

BE Market

Return vs Industry: BCART underperformed the Belgian Medical Equipment industry which returned 21.7% over the past year.

Return vs Market: BCART underperformed the Belgian Market which returned 10.9% over the past year.


Shareholder returns

BCARTIndustryMarket
7 Day-7.2%0.2%-0.4%
30 Day-9.6%-2.4%-1.7%
90 Day-43.5%-1.3%-0.4%
1 Year-49.2%-49.2%23.7%21.7%13.3%10.9%
3 Year-36.3%-36.3%63.5%55.0%-4.0%-10.5%
5 Yearn/a119.4%98.6%27.1%12.2%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Biocartis 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: BCART (€5.9) is trading below our estimate of fair value (€28.77)

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


Price To Earnings Ratio

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

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


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: BCART is good value based on its PB Ratio (2.7x) compared to the XE Medical Equipment industry average (3.4x).


Next Steps

Future Growth

How is Biocartis Group forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

57.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BCART is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: BCART is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: BCART is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: BCART's revenue (40.4% per year) is forecast to grow faster than the Belgian market (3.5% per year).

High Growth Revenue: BCART's revenue (40.4% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BCART is forecast to be unprofitable in 3 years.


Next Steps

Past Performance

How has Biocartis Group performed over the past 5 years?

-9.5%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: BCART is unprofitable, and losses have increased over the past 5 years at a rate of -9.5% per year.

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

Earnings vs Industry: BCART is unprofitable, making it difficult to compare its past year earnings growth to the Medical Equipment industry (5.5%).


Return on Equity

High ROE: BCART has a negative Return on Equity (-45.36%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: BCART is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: BCART is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is Biocartis Group's financial position?


Financial Position Analysis

Short Term Liabilities: BCART's short term assets (€238.6M) exceeds its short term liabilities (€18.0M)

Long Term Liabilities: BCART's short term assets (238.6M) exceeds its long term liabilities (161.5M)


Debt to Equity History and Analysis

Debt Level: BCART's debt to equity ratio (109.2%) is considered high

Reducing Debt: BCART's debt to equity ratio has increased from 43.4% to 109.2% over the past 5 years.


Balance Sheet

Inventory Level: BCART has a low level of unsold assets or inventory.

Debt Coverage by Assets: BCART's debt is covered by short term assets (assets are 1.767700x 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: BCART has sufficient cash runway for more than 3 years based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if BCART has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

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


Dividend Yield vs Market

companyn/amarketbottom25%2.1%markettop25%4.4%industryaverage1.5%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

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

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

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

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


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

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


Next Steps

Management

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

3.3yrs

Average management tenure


CEO

Herman Verrelst (45yo)

2.2yrs

Tenure

€510,000

Compensation

Mr. Herman Verrelst has been Chief Executive Officer of Biocartis Group NV since August 31, 2017. Mr. Verrelst serves as Director of European Operations at Detica Group Holdings (Ireland) Limited and of No ...


CEO Compensation Analysis

Compensation vs. Market: Herman has recently become CEO, making it difficult to compare their total compensation against companies of similar size in the Belgian market.

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


Management Age and Tenure

3.3yrs

Average Tenure

51yo

Average Age

Experienced Management: BCART's management team is considered experienced (3.3 years average tenure).


Board Age and Tenure

2.1yrs

Average Tenure

55yo

Average Age

Experienced Board: BCART's board of directors are not considered experienced ( 2.1 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Hilde Eylenbosch (55yo)

    Chief Commercial Officer

    • Tenure: 3yrs
  • Herman Verrelst (45yo)

    CEO & Director

    • Tenure: 2.2yrs
    • Compensation: €510.00k
  • Geert Maertens

    Chairman of Scientific Advisory Board & Chief Scientific Officer

    • Tenure: 0yrs
  • Erwin Sablon (54yo)

    Head of R&D and Alliance Management

    • Tenure: 7.2yrs
  • Ewoud Welten (35yo)

    Chief Financial Officer

    • Tenure: 4.1yrs
  • Susy Spruyt (51yo)

    Head of People & Organization

    • Tenure: 4.8yrs
  • Reginald Van Genechten (53yo)

    Head of Manufacturing & Supply Chain

    • Tenure: 3.6yrs
  • Piet Houwen

    Chief Operating Officer

    • Tenure: 0.5yrs
  • Benoit Devogelaere (38yo)

    Chief Technology Officer

    • Tenure: 1.8yrs
  • Renate Degrave

    Manager of Corporate Communications & Investor Relations

    • Tenure: 0yrs

Board Members

  • Leo Steenbergen (66yo)

    Non Executive Independent Director

    • Tenure: 0yrs
    • Compensation: €25.69k
  • Christian Reinaudo (65yo)

    Independent Chairman of the Board

    • Tenure: 1.4yrs
    • Compensation: €46.71k
  • Herman Verrelst (45yo)

    CEO & Director

    • Tenure: 2.2yrs
    • Compensation: €510.00k
  • Harry Glorikian (53yo)

    Non Executive Independent Director

    • Tenure: 0yrs
    • Compensation: €27.11k
  • Ann-Christine Sundell (55yo)

    Non Executive Independent Director

    • Tenure: 0yrs
    • Compensation: €28.69k
  • Geert Maertens

    Chairman of Scientific Advisory Board & Chief Scientific Officer

    • Tenure: 0yrs
  • Eric Cutsem

    Member of Scientific Advisory Board

    • Tenure: 0yrs
  • Roald Borré (46yo)

    Non-Executive Director

    • Tenure: 4.8yrs
    • Compensation: €36.24k
  • Josep Tabernero

    Member of Scientific Advisory Board

    • Tenure: 0yrs
  • Luc Gijsens (65yo)

    Non-Executive Independent Director

    • Tenure: 0yrs
    • Compensation: €27.92k

Company Information

Biocartis Group NV's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Biocartis Group NV
  • Ticker: BCART
  • Exchange: ENXTBR
  • Founded: 2007
  • Industry: Health Care Equipment
  • Sector: Healthcare
  • Market Cap: €332.654m
  • Shares outstanding: 56.38m
  • Website: https://www.biocartis.com

Number of Employees


Location

  • Biocartis Group NV
  • Generaal De Wittelaan 11 B3
  • Mechelen
  • Antwerp
  • 2800
  • Belgium

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BCARTENXTBR (Euronext Brussels)YesNew Ordinary SharesBEEURApr 2015
8XBDB (Deutsche Boerse AG)YesNew Ordinary SharesDEEURApr 2015
0R72LSE (London Stock Exchange)YesNew Ordinary SharesGBEURApr 2015
BCARTBBATS-CHIXE (BATS 'Chi-X Europe')YesNew Ordinary SharesGBEURApr 2015

Biography

Biocartis Group NV, a molecular diagnostics company, provides diagnostic solutions enhancing clinical practice for the benefit of patients, clinicians, payers, and healthcare industry, with a focus on onco ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/22 21:41
End of Day Share Price2019/10/22 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.